Perigon Wealth Management LLC Sells 23,396 Shares of Intel Co. (NASDAQ:INTC)

Perigon Wealth Management LLC reduced its position in shares of Intel Co. (NASDAQ:INTC) by 17.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 114,138 shares of the chip maker’s stock after selling 23,396 shares during the quarter. Perigon Wealth Management LLC’s holdings in Intel were worth $2,245,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Quest Partners LLC increased its position in shares of Intel by 7,370.6% during the third quarter. Quest Partners LLC now owns 1,270 shares of the chip maker’s stock valued at $30,000 after acquiring an additional 1,253 shares in the last quarter. Finley Financial LLC purchased a new position in shares of Intel in the fourth quarter worth $25,000. FSA Wealth Management LLC bought a new position in shares of Intel during the third quarter valued at $34,000. Capital Performance Advisors LLP purchased a new stake in shares of Intel during the third quarter valued at $36,000. Finally, West Financial Advisors LLC bought a new stake in Intel in the 4th quarter worth about $31,000. 64.53% of the stock is 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 business’s stock in a transaction on Thursday, November 7th. The shares were 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 in the company, valued at approximately $7,104,708. The trade was a 8.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.04% of the company’s stock.

Intel Trading Down 0.2 %

Intel stock opened at $19.77 on Thursday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.31 and a quick ratio of 0.97. The firm’s 50 day moving average price is $21.06 and its 200-day moving average price is $22.65. Intel Co. has a 1 year low of $18.51 and a 1 year high of $46.63. The stock has a market cap of $85.25 billion, a P/E ratio of -5.31, a PEG ratio of 9.72 and a beta of 1.07.

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 company had revenue of $13.30 billion during 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%. The firm’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.28 EPS. On average, equities analysts predict that Intel Co. will post -0.87 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Robert W. Baird upped their target price on shares of Intel from $20.00 to $25.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Intel from $27.00 to $25.00 and set a “hold” rating on the stock in a report on Thursday, October 3rd. Bank of America reiterated an “underperform” rating and set a $21.00 target price on shares of Intel in a research note on Tuesday, December 3rd. Barclays dropped their price target on Intel from $25.00 to $23.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. Finally, The Goldman Sachs Group reduced their price objective on Intel from $22.00 to $21.00 and set a “sell” rating for the company in a research report on Thursday, October 17th. Five investment analysts have rated the stock with a sell rating, twenty-seven have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $27.88.

About Intel

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.