Hourglass Capital LLC Sells 2,000 Shares of Intel Co. (NASDAQ:INTC)

Hourglass Capital LLC cut its position in Intel Co. (NASDAQ:INTC) by 15.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,213 shares of the chip maker’s stock after selling 2,000 shares during the period. Hourglass Capital LLC’s holdings in Intel were worth $263,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in INTC. Vanguard Group Inc. raised its holdings in shares of Intel by 0.9% in the first quarter. Vanguard Group Inc. now owns 389,098,435 shares of the chip maker’s stock valued at $17,186,478,000 after purchasing an additional 3,310,528 shares during the last quarter. Capital International Investors grew its stake in shares of Intel by 16.0% during the 1st quarter. Capital International Investors now owns 112,093,582 shares of the chip maker’s stock worth $4,951,174,000 after acquiring an additional 15,475,631 shares during the period. Primecap Management Co. CA increased its holdings in Intel by 2.2% in the 2nd quarter. Primecap Management Co. CA now owns 77,822,587 shares of the chip maker’s stock worth $2,410,166,000 after acquiring an additional 1,697,550 shares during the last quarter. Van ECK Associates Corp lifted its holdings in Intel by 27.2% during the third quarter. Van ECK Associates Corp now owns 44,013,936 shares of the chip maker’s stock valued at $967,426,000 after purchasing an additional 9,422,136 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in Intel by 6.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 39,841,750 shares of the chip maker’s stock worth $1,759,811,000 after purchasing an additional 2,457,243 shares during the period. Institutional investors and hedge funds own 64.53% of the company’s stock.

Intel Stock Performance

Shares of Intel stock opened at $24.92 on Thursday. The stock has a market cap of $107.48 billion, a price-to-earnings ratio of -6.70 and a beta of 1.03. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.31 and a quick ratio of 0.97. The firm’s 50-day moving average is $22.36 and its 200 day moving average is $26.43. Intel Co. has a 1 year low of $18.51 and a 1 year high of $51.28.

Intel (NASDAQ:INTC) last announced 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). Intel had a negative net margin of 29.42% and a negative return on equity of 1.71%. The business had revenue of $13.30 billion during the quarter, compared to analysts’ expectations of $13.02 billion. During the same quarter in the prior year, the firm earned $0.28 EPS. Intel’s revenue for the quarter was down 6.3% on a year-over-year basis. Sell-side analysts anticipate that Intel Co. will post -0.83 EPS for the current fiscal year.

Insider Buying and Selling at Intel

In other news, EVP Michelle Johnston Holthaus sold 25,000 shares of the company’s 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 completion of the sale, the executive vice president now directly owns 273,258 shares in the company, valued at $7,104,708. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.04% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts recently commented on INTC shares. Wedbush cut their price objective on shares of Intel from $32.50 to $25.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Benchmark reaffirmed a “hold” rating on shares of Intel in a report on Friday, November 1st. Mizuho increased their price objective on Intel from $22.00 to $23.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Rosenblatt Securities reaffirmed a “sell” rating and set a $17.00 target price on shares of Intel in a report on Tuesday, October 29th. Finally, Argus cut shares of Intel from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Six analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $30.12.

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.