SevenBridge Financial Group LLC Trims Holdings in Intel Co. (NASDAQ:INTC)

SevenBridge Financial Group LLC reduced its stake in Intel Co. (NASDAQ:INTC) by 5.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 44,800 shares of the chip maker’s stock after selling 2,499 shares during the quarter. SevenBridge Financial Group LLC’s holdings in Intel were worth $1,122,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in INTC. Epoch Investment Partners Inc. boosted its holdings in Intel by 20.1% during the 1st quarter. Epoch Investment Partners Inc. now owns 70,469 shares of the chip maker’s stock valued at $3,113,000 after acquiring an additional 11,803 shares during the period. Lazard Asset Management LLC boosted its stake in shares of Intel by 5.0% in the first quarter. Lazard Asset Management LLC now owns 284,044 shares of the chip maker’s stock valued at $12,544,000 after purchasing an additional 13,506 shares during the period. Lavaca Capital LLC grew its holdings in shares of Intel by 61.8% in the first quarter. Lavaca Capital LLC now owns 11,266 shares of the chip maker’s stock valued at $498,000 after purchasing an additional 4,305 shares in the last quarter. Silvercrest Asset Management Group LLC increased its stake in Intel by 3.0% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 303,347 shares of the chip maker’s stock worth $13,399,000 after buying an additional 8,732 shares during the period. Finally, Waverly Advisors LLC lifted its holdings in Intel by 16.9% during the 1st quarter. Waverly Advisors LLC now owns 73,714 shares of the chip maker’s stock worth $3,256,000 after buying an additional 10,659 shares in the last quarter. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on INTC. Wedbush dropped their price target on shares of Intel from $32.50 to $25.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Mizuho boosted their target price on Intel from $22.00 to $23.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Argus lowered Intel from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Bank of America downgraded Intel from a “neutral” rating to an “underperform” rating and lowered their price objective for the stock from $35.00 to $23.00 in a research report on Friday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of Intel from $27.00 to $25.00 and set a “hold” rating on the stock in a report on Thursday, October 3rd. Six analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $30.12.

Insider Buying and Selling

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $26.00, for a total transaction of $650,000.00. Following the completion of the transaction, the executive vice president now directly 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 transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.04% of the company’s stock.

Intel Trading Up 0.2 %

NASDAQ INTC opened at $24.50 on Friday. Intel Co. has a one year low of $18.51 and a one year high of $51.28. The firm has a market cap of $105.67 billion, a PE ratio of -6.59 and a beta of 1.03. The firm’s fifty day moving average is $23.19 and its two-hundred day moving average is $26.11. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.97 and a current ratio of 1.31.

Intel (NASDAQ:INTC) last posted its quarterly earnings data on Thursday, October 31st. The chip maker reported ($0.46) 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 analysts’ expectations of $13.02 billion. During the same period in the prior year, the company earned $0.28 earnings per share. The firm’s revenue was down 6.3% on a year-over-year basis. Analysts expect that Intel Co. will post -0.83 earnings per share for the current 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.