Avidian Wealth Enterprises LLC Sells 7,950 Shares of Intel Co. (NASDAQ:INTC)

Avidian Wealth Enterprises LLC lessened its position in shares of Intel Co. (NASDAQ:INTC) by 42.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,876 shares of the chip maker’s stock after selling 7,950 shares during the period. Avidian Wealth Enterprises LLC’s holdings in Intel were worth $255,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the company. Guardian Capital Advisors LP increased its position in Intel by 2.1% during the 1st quarter. Guardian Capital Advisors LP now owns 16,030 shares of the chip maker’s stock valued at $708,000 after buying an additional 328 shares in the last quarter. Richard C. Young & CO. LTD. increased its holdings in shares of Intel by 0.9% during the first quarter. Richard C. Young & CO. LTD. now owns 37,489 shares of the chip maker’s stock valued at $1,656,000 after acquiring an additional 338 shares in the last quarter. Key Financial Inc raised its position in shares of Intel by 4.1% in the 2nd quarter. Key Financial Inc now owns 8,685 shares of the chip maker’s stock worth $269,000 after purchasing an additional 340 shares during the last quarter. W.G. Shaheen & Associates DBA Whitney & Co grew its position in Intel by 1.4% during the 2nd quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 24,779 shares of the chip maker’s stock valued at $767,000 after purchasing an additional 348 shares during the last quarter. Finally, Cypress Asset Management Inc. TX increased its stake in Intel by 1.6% during the 1st quarter. Cypress Asset Management Inc. TX now owns 22,835 shares of the chip maker’s stock valued at $1,015,000 after purchasing an additional 350 shares in the last quarter. Institutional investors own 64.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Northland Securities dropped their target price on shares of Intel from $42.00 to $28.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Barclays reduced their target price on Intel from $40.00 to $25.00 and set an “equal weight” rating for the company in a report on Friday, August 2nd. Morgan Stanley lowered their price target on Intel from $36.00 to $25.00 and set an “equal weight” rating on the stock in a report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft decreased their target price on Intel from $27.00 to $25.00 and set a “hold” rating for the company in a research report on Thursday, October 3rd. Finally, Cantor Fitzgerald lowered their target price on shares of Intel from $40.00 to $27.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Six equities research analysts have rated the stock with a sell rating, twenty-five have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $30.12.

Intel Stock Performance

NASDAQ INTC opened at $26.23 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. Intel Co. has a twelve month low of $18.51 and a twelve month high of $51.28. The business has a 50-day moving average price of $22.01 and a 200-day moving average price of $26.72. The firm has a market cap of $113.13 billion, a price-to-earnings ratio of -7.05 and a beta of 1.03.

Intel (NASDAQ:INTC) last posted its quarterly 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). The business had revenue of $13.30 billion during the quarter, compared to the consensus estimate of $13.02 billion. Intel had a negative return on equity of 1.71% and a negative net margin of 29.42%. The company’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.28 earnings per share. As a group, equities research analysts predict that Intel Co. will post -0.47 EPS for the current fiscal year.

Intel Company 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.