Gulf International Bank UK Ltd Sells 14,596 Shares of Intel Co. (NASDAQ:INTC)

Gulf International Bank UK Ltd lessened its holdings in Intel Co. (NASDAQ:INTC) by 4.1% in the third quarter, Holdings Channel reports. The institutional investor owned 338,132 shares of the chip maker’s stock after selling 14,596 shares during the period. Gulf International Bank UK Ltd’s holdings in Intel were worth $7,932,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in INTC. America First Investment Advisors LLC acquired a new stake in Intel in the second quarter valued at $25,000. Cyrus J. Lawrence LLC acquired a new position in shares of Intel in the second quarter worth approximately $27,000. Spartan Fund Management Inc. bought a new position in Intel during the 2nd quarter worth approximately $31,000. Financial Connections Group Inc. acquired a new position in shares of Intel in the 2nd quarter valued at about $32,000. Finally, Triad Wealth Partners LLC bought a new stake in Intel in the second quarter valued at $33,000. 64.53% of the stock is currently owned by institutional investors and hedge funds.

Intel Trading Down 2.9 %

Shares of INTC opened at $22.52 on Tuesday. Intel Co. has a 52 week low of $18.51 and a 52 week high of $51.28. 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 business has a 50-day simple moving average of $21.84 and a two-hundred day simple moving average of $26.81.

Intel (NASDAQ:INTC) last released its quarterly earnings data on Thursday, October 31st. The chip maker reported ($0.46) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.44). The company had revenue of $13.30 billion for the quarter, compared to the consensus estimate of $13.02 billion. Intel had a negative net margin of 29.42% and a negative return on equity of 1.71%. The company’s quarterly revenue was down 6.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.28 EPS. As a group, analysts predict that Intel Co. will post -0.47 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on INTC. JPMorgan Chase & Co. dropped their price objective on shares of Intel from $35.00 to $26.00 and set an “underweight” rating on the stock in a research note on Friday, August 2nd. 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 report on Thursday, October 17th. Bank of America downgraded shares of Intel from a “neutral” rating to an “underperform” rating and cut their price objective for the stock from $35.00 to $23.00 in a report on Friday, August 2nd. UBS Group reduced their price objective on shares of Intel from $37.00 to $32.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Finally, Hsbc Global Res cut Intel from a “hold” rating to a “moderate sell” rating in a report on Friday, August 2nd. Six analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $30.12.

Intel 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.