Wilmington Savings Fund Society FSB Trims Stock Holdings in Intel Co. (NASDAQ:INTC)

Wilmington Savings Fund Society FSB cut its holdings in shares of Intel Co. (NASDAQ:INTC) by 1.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 153,744 shares of the chip maker’s stock after selling 2,917 shares during the period. Wilmington Savings Fund Society FSB’s holdings in Intel were worth $3,607,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. William B. Walkup & Associates Inc. purchased a new position in shares of Intel in the 2nd quarter valued at approximately $2,178,000. Geode Capital Management LLC grew its position in Intel by 4.6% in the 3rd quarter. Geode Capital Management LLC now owns 92,510,098 shares of the chip maker’s stock valued at $2,162,891,000 after buying an additional 4,103,553 shares during the last quarter. Swiss National Bank grew its position in Intel by 0.3% in the 3rd quarter. Swiss National Bank now owns 12,635,400 shares of the chip maker’s stock valued at $296,426,000 after buying an additional 31,800 shares during the last quarter. SGL Investment Advisors Inc. acquired a new position in Intel in the 3rd quarter valued at $2,365,000. Finally, Benjamin Edwards Inc. increased its stake in shares of Intel by 35,983.5% during the third quarter. Benjamin Edwards Inc. now owns 32,836 shares of the chip maker’s stock worth $770,000 after acquiring an additional 32,745 shares during the period. 64.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently commented on INTC. TD Cowen raised Intel to a “hold” rating in a report on Monday, September 16th. Truist Financial upped their price target on Intel from $25.00 to $26.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Robert W. Baird boosted their target price on Intel from $20.00 to $25.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Northland Securities lowered their price objective on shares of Intel from $42.00 to $28.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Finally, Rosenblatt Securities restated a “sell” rating and set a $17.00 target price on shares of Intel in a research report on Tuesday, October 29th. Six investment analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $30.04.

Intel Stock Performance

Intel stock opened at $20.78 on Friday. The firm has a market capitalization of $89.62 billion, a PE ratio of -5.59 and a beta of 1.05. Intel Co. has a one year low of $18.51 and a one year high of $51.28. The stock’s 50 day moving average price is $23.17 and its 200 day moving average price is $25.30. 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 announced its 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 firm had revenue of $13.30 billion during the quarter, compared to analysts’ expectations of $13.02 billion. During the same quarter last year, the company posted $0.28 earnings per share. Intel’s revenue for the quarter was down 6.3% compared to the same quarter last year. As a group, sell-side analysts expect that Intel Co. will post -0.87 EPS for the current fiscal year.

Insider Transactions at Intel

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of the company’s 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 sale, 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 legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.04% of the company’s stock.

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.