Intel Co. (NASDAQ:INTC) Shares Sold by Everence Capital Management Inc.

Everence Capital Management Inc. cut its holdings in Intel Co. (NASDAQ:INTC) by 26.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 81,708 shares of the chip maker’s stock after selling 28,810 shares during the quarter. Everence Capital Management Inc.’s holdings in Intel were worth $1,638,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. FineMark National Bank & Trust grew its holdings in shares of Intel by 23.0% during the second quarter. FineMark National Bank & Trust now owns 14,906 shares of the chip maker’s stock worth $462,000 after buying an additional 2,789 shares in the last quarter. TD Asset Management Inc grew its stake in Intel by 2.9% in the 2nd quarter. TD Asset Management Inc now owns 2,164,825 shares of the chip maker’s stock worth $67,045,000 after acquiring an additional 61,267 shares during the period. Foster & Motley Inc. raised its holdings in Intel by 7.9% in the 2nd quarter. Foster & Motley Inc. now owns 6,851 shares of the chip maker’s stock valued at $212,000 after acquiring an additional 500 shares during the last quarter. Bordeaux Wealth Advisors LLC lifted its stake in shares of Intel by 23.8% during the 2nd quarter. Bordeaux Wealth Advisors LLC now owns 19,016 shares of the chip maker’s stock worth $589,000 after purchasing an additional 3,652 shares during the period. Finally, Altus Wealth Group LLC boosted its holdings in shares of Intel by 3.4% during the second quarter. Altus Wealth Group LLC now owns 26,842 shares of the chip maker’s stock worth $831,000 after purchasing an additional 893 shares during the last quarter. 64.53% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on INTC shares. Robert W. Baird upped their target price on Intel from $20.00 to $25.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Mizuho upped their price objective on shares of Intel from $22.00 to $23.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Bank of America reissued an “underperform” rating and issued a $21.00 target price on shares of Intel in a research report on Tuesday, December 3rd. Stifel Nicolaus reaffirmed a “hold” rating and set a $25.00 price target (down previously from $28.00) on shares of Intel in a research report on Friday, October 25th. Finally, Truist Financial boosted their price objective on shares of Intel from $25.00 to $26.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Six investment analysts have rated the stock with a sell rating, twenty-five have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $30.04.

Insiders Place Their Bets

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of the firm’s stock in a transaction on 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 directly owns 273,258 shares in the company, valued at $7,104,708. This trade represents a 8.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.04% of the stock is currently owned by company insiders.

Intel Stock Up 1.7 %

INTC stock opened at $20.56 on Friday. The company has a market capitalization of $88.68 billion, a P/E ratio of -5.53 and a beta of 1.05. The firm has a 50 day simple moving average of $22.32 and a 200-day simple moving average of $24.13. 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 twelve month low of $18.51 and a twelve month high of $50.30.

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 the consensus estimate of ($0.02) by ($0.44). Intel had a negative return on equity of 1.71% and a negative net margin of 29.42%. The company had revenue of $13.30 billion during the quarter, compared to the consensus estimate of $13.02 billion. During the same period in the previous year, the firm posted $0.28 EPS. Intel’s revenue for the quarter was down 6.3% on a year-over-year basis. On average, equities research analysts predict 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.