Ferguson Wellman Capital Management Inc. Sells 28,179 Shares of Intel Co. (NASDAQ:INTC)

Ferguson Wellman Capital Management Inc. reduced its holdings in shares of Intel Co. (NASDAQ:INTC) by 33.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 57,226 shares of the chip maker’s stock after selling 28,179 shares during the quarter. Ferguson Wellman Capital Management Inc.’s holdings in Intel were worth $1,343,000 at the end of the most recent reporting period.

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

Insider Activity

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $26.00, for a total transaction of $650,000.00. Following the transaction, the executive vice president now owns 273,258 shares in the company, valued at $7,104,708. The trade was a 8.38 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.04% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on INTC shares. Stifel Nicolaus reaffirmed a “hold” rating and set a $25.00 target price (down previously from $28.00) on shares of Intel in a research note on Friday, October 25th. TD Cowen raised Intel to a “hold” rating in a research note on Monday, September 16th. Daiwa America raised Intel to a “hold” rating in a research note on Monday, August 26th. Deutsche Bank Aktiengesellschaft cut their price target on Intel from $27.00 to $25.00 and set a “hold” rating on the stock in a report on Thursday, October 3rd. Finally, Rosenblatt Securities reiterated a “sell” rating and issued a $17.00 price target on shares of Intel in a report on Tuesday, October 29th. Six analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $30.12.

Intel Stock Performance

Shares of INTC stock opened at $25.03 on Friday. The company has a quick ratio of 0.97, a current ratio of 1.31 and a debt-to-equity ratio of 0.44. The business has a 50-day moving average price of $22.47 and a two-hundred day moving average price of $26.42. Intel Co. has a 12-month low of $18.51 and a 12-month high of $51.28.

Intel (NASDAQ:INTC) last released 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). Intel had a negative net margin of 29.42% and a negative return on equity of 1.71%. The company had revenue of $13.30 billion during the quarter, compared to the consensus estimate of $13.02 billion. During the same period last year, the firm posted $0.28 EPS. The company’s revenue was down 6.3% on a year-over-year basis. Research analysts predict that Intel Co. will post -0.83 earnings per share for the current year.

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.