Caprock Group LLC Trims Stake in Intel Co. (NASDAQ:INTC)

Caprock Group LLC cut its holdings in shares of Intel Co. (NASDAQ:INTC) by 29.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 48,771 shares of the chip maker’s stock after selling 20,113 shares during the quarter. Caprock Group LLC’s holdings in Intel were worth $1,144,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analyst Ratings Changes

INTC has been the subject of a number of research reports. Stifel Nicolaus restated a “hold” rating and issued a $25.00 price objective (down previously from $28.00) on shares of Intel in a report on Friday, October 25th. Susquehanna cut their price target on Intel from $35.00 to $26.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Mizuho upped their target price on shares of Intel from $22.00 to $23.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Rosenblatt Securities restated a “sell” rating and set a $17.00 target price on shares of Intel in a research note on Tuesday, October 29th. Finally, Bank of America lowered shares of Intel from a “neutral” rating to an “underperform” rating and dropped their price target for the company from $35.00 to $23.00 in a research note on Friday, August 2nd. Six research analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Intel has an average rating of “Hold” and an average price target of $30.12.

Intel Stock Performance

Shares of INTC stock opened at $24.43 on Friday. The stock has a 50 day simple moving average of $23.10 and a 200-day simple moving average of $26.19. Intel Co. has a 12-month low of $18.51 and a 12-month high of $51.28. The company has a market cap of $105.35 billion, a price-to-earnings ratio of -6.57 and a beta of 1.03. 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 (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, October 31st. The chip maker reported ($0.46) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 net margin of 29.42% and a negative return on equity of 1.71%. The business’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.28 EPS. On average, equities analysts forecast that Intel Co. will post -0.83 EPS for the current year.

Insider Activity at Intel

In other Intel news, EVP Michelle Johnston Holthaus sold 25,000 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $7,104,708. This represents a 8.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.04% of the stock is currently owned by company insiders.

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.