Oppenheimer & Co. Inc. Lowers Stock Position in Intel Co. (NASDAQ:INTC)

Oppenheimer & Co. Inc. reduced its position in shares of Intel Co. (NASDAQ:INTC) by 0.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 261,868 shares of the chip maker’s stock after selling 1,027 shares during the period. Oppenheimer & Co. Inc.’s holdings in Intel were worth $6,143,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Orion Portfolio Solutions LLC grew its stake in Intel by 1.9% in the 1st quarter. Orion Portfolio Solutions LLC now owns 100,220 shares of the chip maker’s stock valued at $4,427,000 after purchasing an additional 1,900 shares during the period. Dorsey & Whitney Trust CO LLC grew its position in Intel by 1.4% during the first quarter. Dorsey & Whitney Trust CO LLC now owns 41,162 shares of the chip maker’s stock valued at $1,818,000 after buying an additional 588 shares during the period. M&G Plc purchased a new stake in Intel during the first quarter worth about $129,589,000. Mizuho Markets Cayman LP increased its holdings in Intel by 336.0% during the first quarter. Mizuho Markets Cayman LP now owns 32,400 shares of the chip maker’s stock worth $1,476,000 after buying an additional 24,969 shares during the last quarter. Finally, Councilmark Asset Management LLC bought a new stake in Intel in the first quarter worth about $1,631,000. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

INTC has been the subject of several research analyst reports. Barclays decreased their price target on shares of Intel from $40.00 to $25.00 and set an “equal weight” rating for the company in a research note on Friday, August 2nd. UBS Group decreased their target price on Intel from $37.00 to $32.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Wedbush dropped their price target on Intel from $32.50 to $25.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Needham & Company LLC reissued a “hold” rating on shares of Intel in a report on Friday, November 1st. Finally, HSBC cut Intel from a “hold” rating to a “reduce” rating in a research note on Friday, August 2nd. Six research analysts have rated the stock with a sell rating, twenty-five have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $30.12.

Insider Transactions at Intel

In other news, EVP Michelle Johnston Holthaus sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The shares were 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 approximately $7,104,708. The trade was a 8.38 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.04% of the company’s stock.

Intel Price Performance

INTC stock opened at $25.03 on Friday. The firm has a 50 day simple moving average of $22.47 and a two-hundred day simple moving average of $26.42. The stock has a market cap of $107.95 billion, a PE ratio of -6.73 and a beta of 1.03. Intel Co. has a one year low of $18.51 and a one year high of $51.28. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.31 and a quick ratio of 0.97.

Intel (NASDAQ:INTC) last announced its earnings results on Thursday, October 31st. The chip maker reported ($0.46) earnings per share (EPS) for the quarter, missing the consensus estimate 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 return on equity of 1.71% and a negative net margin of 29.42%. During the same quarter last year, the firm posted $0.28 earnings per share. The firm’s revenue was down 6.3% on a year-over-year basis. On average, analysts predict that Intel Co. will post -0.83 EPS 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.