Ridgecrest Wealth Partners LLC Cuts Stock Holdings in Intel Co. (NASDAQ:INTC)

Ridgecrest Wealth Partners LLC reduced its position in Intel Co. (NASDAQ:INTC) by 5.5% in the fourth quarter, Holdings Channel.com reports. The fund owned 14,624 shares of the chip maker’s stock after selling 850 shares during the period. Ridgecrest Wealth Partners LLC’s holdings in Intel were worth $293,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Webster Bank N. A. increased its holdings in shares of Intel by 10.7% in the 4th quarter. Webster Bank N. A. now owns 12,064 shares of the chip maker’s stock worth $242,000 after purchasing an additional 1,164 shares in the last quarter. Pacer Advisors Inc. boosted its position in shares of Intel by 26.1% during the fourth quarter. Pacer Advisors Inc. now owns 760,936 shares of the chip maker’s stock valued at $15,257,000 after buying an additional 157,480 shares during the last quarter. KBC Group NV increased its holdings in Intel by 2.7% in the 4th quarter. KBC Group NV now owns 1,166,161 shares of the chip maker’s stock worth $23,382,000 after buying an additional 30,397 shares in the last quarter. Union Bancaire Privee UBP SA purchased a new position in Intel in the 4th quarter worth about $45,000. Finally, Apexium Financial LP lifted its stake in Intel by 13.1% during the 4th quarter. Apexium Financial LP now owns 11,660 shares of the chip maker’s stock valued at $234,000 after acquiring an additional 1,353 shares during the period. 64.53% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on INTC. Truist Financial lifted their price target on shares of Intel from $25.00 to $26.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. Hsbc Global Res raised shares of Intel from a “moderate sell” rating to a “hold” rating in a research report on Tuesday, January 21st. Barclays lowered their price target on Intel from $25.00 to $23.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. Deutsche Bank Aktiengesellschaft cut their price objective on Intel from $27.00 to $25.00 and set a “hold” rating for the company in a report on Thursday, October 3rd. 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 research 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 stock. According to data from MarketBeat, Intel currently has an average rating of “Hold” and a consensus price target of $27.88.

Insiders Place Their Bets

In other Intel news, EVP Michelle Johnston Holthaus sold 25,000 shares of Intel 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 $7,104,708. The trade was a 8.38 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.04% of the company’s stock.

Intel Stock Down 3.4 %

Shares of INTC opened at $20.83 on Monday. The business’s 50 day moving average is $21.23 and its 200 day moving average is $22.85. The company has a current ratio of 1.31, a quick ratio of 0.97 and a debt-to-equity ratio of 0.44. Intel Co. has a 12-month low of $18.51 and a 12-month high of $50.30. The company has a market capitalization of $89.84 billion, a PE ratio of -5.60, a price-to-earnings-growth ratio of 9.72 and a beta of 1.07.

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). 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 for the quarter, compared to the consensus estimate of $13.02 billion. During the same quarter in the previous year, the business earned $0.28 EPS. The company’s quarterly revenue was down 6.3% on a year-over-year basis. Research analysts expect that Intel Co. will post -0.87 earnings per share for the current fiscal year.

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.