B. Riley Wealth Advisors Inc. Reduces Stock Position in Intel Co. (NASDAQ:INTC)

B. Riley Wealth Advisors Inc. trimmed its holdings in shares of Intel Co. (NASDAQ:INTC) by 5.4% in the third quarter, HoldingsChannel reports. The firm owned 111,768 shares of the chip maker’s stock after selling 6,354 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Intel were worth $2,577,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. America First Investment Advisors LLC purchased a new position in shares of Intel during the 2nd quarter worth approximately $25,000. Cyrus J. Lawrence LLC purchased a new position in shares of Intel during the 2nd quarter worth approximately $27,000. Spartan Fund Management Inc. purchased a new stake in Intel in the 2nd quarter worth approximately $31,000. Financial Connections Group Inc. purchased a new stake in Intel in the 2nd quarter worth approximately $32,000. Finally, Fairfield Financial Advisors LTD purchased a new stake in Intel in the 2nd quarter worth approximately $35,000. 64.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on INTC. Robert W. Baird lifted their target price on shares of Intel from $20.00 to $25.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Daiwa America raised shares of Intel to a “hold” rating in a research note on Monday, August 26th. Mizuho lifted their target price on shares of Intel from $22.00 to $23.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Northland Securities lowered their target price on shares of Intel from $42.00 to $28.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Finally, Benchmark reaffirmed a “hold” rating on shares of Intel in a research note on Friday, November 1st. Six equities 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 company’s stock. Based on data from MarketBeat, Intel presently has an average rating of “Hold” and a consensus price target of $30.04.

Insider Buying and Selling

In other news, EVP Michelle Johnston Holthaus sold 25,000 shares of the business’s stock in a transaction dated 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 owns 273,258 shares of the company’s stock, valued at approximately $7,104,708. The trade was a 8.38 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.04% of the stock is currently owned by insiders.

Intel Stock Performance

Intel stock opened at $20.34 on Monday. Intel Co. has a 12-month low of $18.51 and a 12-month high of $51.28. The company has a market capitalization of $87.73 billion, a price-to-earnings ratio of -5.47 and a beta of 1.05. 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 fifty day moving average price is $23.12 and its 200 day moving average price is $25.15.

Intel (NASDAQ:INTC) last released its quarterly 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). Intel had a negative return on equity of 1.71% and a negative net margin of 29.42%. The firm had revenue of $13.30 billion for the quarter, compared to analysts’ expectations of $13.02 billion. During the same period last year, the firm earned $0.28 EPS. The business’s quarterly revenue was down 6.3% on a year-over-year basis. On average, research analysts forecast that Intel Co. will post -0.87 EPS for the current fiscal year.

Intel 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.