Marco Investment Management LLC Sells 8,300 Shares of Intel Co. (NASDAQ:INTC)

Marco Investment Management LLC decreased its holdings in Intel Co. (NASDAQ:INTC) by 4.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 168,985 shares of the chip maker’s stock after selling 8,300 shares during the quarter. Marco Investment Management LLC’s holdings in Intel were worth $3,964,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. America First Investment Advisors LLC purchased a new position in shares of Intel during the second quarter valued at approximately $25,000. Cyrus J. Lawrence LLC purchased a new position in Intel during the 2nd quarter worth $27,000. Spartan Fund Management Inc. bought a new stake in shares of Intel in the 2nd quarter worth $31,000. Financial Connections Group Inc. purchased a new stake in shares of Intel in the second quarter valued at about $32,000. Finally, Triad Wealth Partners LLC bought a new position in shares of Intel during the second quarter valued at about $33,000. Institutional investors and hedge funds own 64.53% of the company’s stock.

Insider Activity

In other news, EVP Michelle Johnston Holthaus sold 25,000 shares of the stock in a transaction 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 transaction, the executive vice president now owns 273,258 shares of the company’s stock, valued at $7,104,708. This represents a 8.38 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.04% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Intel in a research report on Friday, November 1st. Barclays decreased their price target on Intel from $40.00 to $25.00 and set an “equal weight” rating for the company in a research report on Friday, August 2nd. Morgan Stanley cut their price objective on Intel from $36.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Friday, August 2nd. HSBC lowered Intel from a “hold” rating to a “reduce” rating in a research report on Friday, August 2nd. Finally, Wedbush reduced their price target on shares of Intel from $32.50 to $25.00 and set a “neutral” rating for the company in a research report 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 issued a buy rating to the company’s stock. According to data from MarketBeat.com, Intel has a consensus rating of “Hold” and a consensus target price of $30.12.

Intel Stock Performance

Intel stock opened at $24.50 on Friday. The firm’s 50 day simple moving average is $23.19 and its 200 day simple moving average is $26.11. The company has a current ratio of 1.31, a quick ratio of 0.97 and a debt-to-equity ratio of 0.44. Intel Co. has a 1-year low of $18.51 and a 1-year high of $51.28. The firm has a market capitalization of $105.67 billion, a PE ratio of -6.59 and a beta of 1.03.

Intel (NASDAQ:INTC) last issued its quarterly earnings data on Thursday, October 31st. The chip maker reported ($0.46) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.44). Intel had a negative return on equity of 1.71% and a negative net margin of 29.42%. The business had revenue of $13.30 billion during the quarter, compared to analysts’ expectations of $13.02 billion. During the same quarter last year, the business posted $0.28 EPS. The company’s quarterly revenue was down 6.3% on a year-over-year basis. As a group, analysts expect that Intel Co. will post -0.83 earnings per share 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.