Essex Savings Bank Sells 5,814 Shares of Intel Co. (NASDAQ:INTC)

Essex Savings Bank cut its holdings in shares of Intel Co. (NASDAQ:INTC) by 34.4% during the 4th quarter, Holdings Channel reports. The firm owned 11,077 shares of the chip maker’s stock after selling 5,814 shares during the period. Essex Savings Bank’s holdings in Intel were worth $222,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Cyrus J. Lawrence LLC bought a new position in Intel during the 2nd quarter worth $27,000. Quest Partners LLC grew its holdings in shares of Intel by 7,370.6% during the 3rd quarter. Quest Partners LLC now owns 1,270 shares of the chip maker’s stock worth $30,000 after purchasing an additional 1,253 shares in the last quarter. FSA Wealth Management LLC acquired a new stake in shares of Intel during the 3rd quarter worth $34,000. Capital Performance Advisors LLP bought a new position in shares of Intel in the third quarter worth $36,000. Finally, Sawyer & Company Inc acquired a new position in Intel in the fourth quarter valued at about $32,000. 64.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have commented on INTC shares. Robert W. Baird raised their target price on shares of Intel from $20.00 to $25.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Needham & Company LLC restated a “hold” rating on shares of Intel in a research report on Friday, November 1st. Northland Securities reduced their target price on Intel from $42.00 to $28.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Bank of America reissued an “underperform” rating and set a $21.00 price target on shares of Intel in a report on Tuesday, December 3rd. Finally, Rosenblatt Securities reaffirmed a “sell” rating and issued a $17.00 price objective on shares of Intel in a research note on Tuesday, October 29th. Six equities research analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Intel has a consensus rating of “Hold” and a consensus target price of $29.96.

Insider Transactions at Intel

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of the firm’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 transaction of $650,000.00. Following the completion of the sale, the executive vice president now owns 273,258 shares of the company’s stock, valued at $7,104,708. This trade represents a 8.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.04% of the company’s stock.

Intel Stock Down 0.2 %

Intel stock opened at $19.69 on Friday. The firm has a market cap of $84.90 billion, a price-to-earnings ratio of -5.29, a PEG ratio of 8.53 and a beta of 1.07. Intel Co. has a 52-week low of $18.51 and a 52-week high of $50.30. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.97 and a current ratio of 1.31. The firm has a 50 day moving average price of $21.78 and a two-hundred day moving average price of $23.47.

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

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.