Intel Co. (NASDAQ:INTC) Shares Sold by Palisade Asset Management LLC

Palisade Asset Management LLC lowered its stake in shares of Intel Co. (NASDAQ:INTC) by 1.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 153,781 shares of the chip maker’s stock after selling 2,126 shares during the period. Palisade Asset Management LLC’s holdings in Intel were worth $3,608,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Primecap Management Co. CA grew its position in Intel by 2.2% in the second 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 period. Van ECK Associates Corp grew its position in Intel by 27.2% in the 3rd quarter. Van ECK Associates Corp now owns 44,013,936 shares of the chip maker’s stock valued at $967,426,000 after acquiring an additional 9,422,136 shares in the last quarter. Legal & General Group Plc grew its holdings in shares of Intel by 1.3% in the second quarter. Legal & General Group Plc now owns 37,513,226 shares of the chip maker’s stock valued at $1,161,779,000 after purchasing an additional 487,191 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Intel by 7.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 31,690,418 shares of the chip maker’s stock worth $743,457,000 after acquiring an additional 2,248,332 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in Intel by 2.8% in the second quarter. Dimensional Fund Advisors LP now owns 24,512,863 shares of the chip maker’s stock valued at $759,127,000 after purchasing an additional 656,583 shares during the period. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

Intel Stock Performance

Shares of INTC opened at $24.50 on Friday. The stock’s 50 day moving average is $23.19 and its two-hundred day moving average is $26.14. Intel Co. has a twelve month low of $18.51 and a twelve month high of $51.28. 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 (NASDAQ:INTC) last released its quarterly earnings data on Thursday, October 31st. The chip maker reported ($0.46) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.44). The company had revenue of $13.30 billion for 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%. The firm’s quarterly revenue was down 6.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.28 EPS. On average, equities analysts expect that Intel Co. will post -0.83 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on INTC. Mizuho increased their price target on Intel from $22.00 to $23.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Wedbush reduced their price objective on shares of Intel from $32.50 to $25.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Hsbc Global Res downgraded shares of Intel from a “hold” rating to a “moderate sell” rating in a research note on Friday, August 2nd. Northland Securities cut their price target on Intel from $42.00 to $28.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Finally, UBS Group dropped their price objective on Intel from $37.00 to $32.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Six investment 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 company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $30.12.

Insider Buying and Selling

In other Intel news, EVP Michelle Johnston Holthaus sold 25,000 shares of Intel stock in a transaction dated 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 owns 273,258 shares in the company, valued at $7,104,708. The trade was a 8.38 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.04% of the stock is owned by company insiders.

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.