Eastern Bank Decreases Stock Position in Intel Co. (NASDAQ:INTC)

Eastern Bank cut its stake in Intel Co. (NASDAQ:INTC) by 10.9% in the fourth quarter, HoldingsChannel reports. The firm owned 59,638 shares of the chip maker’s stock after selling 7,311 shares during the quarter. Eastern Bank’s holdings in Intel were worth $1,196,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Persium Advisors LLC purchased a new position in Intel in the fourth quarter valued at $688,000. Claro Advisors LLC purchased a new position in Intel in the fourth quarter valued at $260,000. City State Bank boosted its holdings in Intel by 39.0% in the fourth quarter. City State Bank now owns 10,384 shares of the chip maker’s stock valued at $208,000 after purchasing an additional 2,915 shares during the period. Fiduciary Alliance LLC boosted its holdings in Intel by 34.7% in the fourth quarter. Fiduciary Alliance LLC now owns 60,688 shares of the chip maker’s stock valued at $1,217,000 after purchasing an additional 15,650 shares during the period. Finally, Clark & Stuart Inc purchased a new position in Intel in the fourth quarter valued at $385,000. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Intel

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $26.00, for a total value of $650,000.00. Following the sale, the executive vice president now owns 273,258 shares of the company’s stock, valued at approximately $7,104,708. This represents a 8.38 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.04% of the company’s stock.

Intel Price Performance

Shares of NASDAQ:INTC opened at $19.20 on Tuesday. The business’s 50 day simple moving average is $21.97 and its 200-day simple moving average is $23.58. The firm has a market capitalization of $82.81 billion, a price-to-earnings ratio of -5.16 and a beta of 1.07. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.31 and a quick ratio of 0.97. Intel Co. has a 12 month low of $18.51 and a 12 month high of $50.30.

Intel (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, October 31st. The chip maker reported ($0.46) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.44). The firm had revenue of $13.30 billion for the quarter, compared to analysts’ expectations of $13.02 billion. Intel had a negative return on equity of 1.71% and a negative net margin of 29.42%. Intel’s revenue was down 6.3% compared to the same quarter last year. During the same period last year, the firm earned $0.28 EPS. As a group, equities analysts forecast that Intel Co. will post -0.87 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on INTC shares. Truist Financial lifted their target price on Intel from $25.00 to $26.00 and gave the company a “hold” rating in a report on Friday, November 1st. Mizuho decreased their price target on Intel from $23.00 to $21.00 and set a “neutral” rating for the company in a report on Friday. Needham & Company LLC reaffirmed a “hold” rating on shares of Intel in a report on Friday, November 1st. Robert W. Baird lifted their price target on Intel from $20.00 to $25.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Finally, Benchmark reaffirmed a “hold” rating on shares of Intel in a report on Friday, November 1st. Six research analysts have rated the stock with a sell rating, twenty-five have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Intel has an average rating of “Hold” and a consensus price target of $29.96.

Intel Company Profile

Intel Corporation designs, develops, manufactures, markets, and sells computing and related products and services worldwide. It operates through Client Computing Group, Data Center and AI, Network and Edge, Mobileye, and Intel Foundry Services segments. The company's products portfolio comprises central processing units and chipsets, system-on-chips (SoCs), and multichip packages; mobile and desktop processors; hardware products comprising graphics processing units (GPUs), domain-specific accelerators, and field programmable gate arrays (FPGAs); and memory and storage, connectivity and networking, and other semiconductor products.