Perkins Coie Trust Co Sells 71,854 Shares of Intel Co. (NASDAQ:INTC)

Perkins Coie Trust Co lowered its stake in Intel Co. (NASDAQ:INTC) by 97.1% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 2,174 shares of the chip maker’s stock after selling 71,854 shares during the period. Perkins Coie Trust Co’s holdings in Intel were worth $44,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Cyrus J. Lawrence LLC bought a new stake in Intel in the 2nd quarter valued at $27,000. Quest Partners LLC raised its stake in shares of Intel by 7,370.6% in the 3rd quarter. Quest Partners LLC now owns 1,270 shares of the chip maker’s stock valued at $30,000 after purchasing an additional 1,253 shares during the period. West Financial Advisors LLC acquired a new stake in shares of Intel in the 4th quarter valued at about $31,000. Groupama Asset Managment lifted its holdings in shares of Intel by 6.3% in the third quarter. Groupama Asset Managment now owns 137,181 shares of the chip maker’s stock valued at $32,000 after purchasing an additional 8,084 shares in the last quarter. Finally, Sawyer & Company Inc acquired a new position in shares of Intel during the fourth quarter worth about $32,000. Institutional investors and hedge funds own 64.53% of the company’s stock.

Insiders Place Their Bets

In other Intel 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 transaction of $650,000.00. Following the completion of the transaction, the executive vice president now directly owns 273,258 shares in the company, valued at $7,104,708. The trade was a 8.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.04% of the company’s stock.

Intel Stock Up 9.3 %

NASDAQ INTC opened at $21.49 on Friday. The company has a current ratio of 1.31, a quick ratio of 0.97 and a debt-to-equity ratio of 0.44. The company has a 50 day moving average of $21.55 and a 200-day moving average of $23.32. Intel Co. has a 1-year low of $18.51 and a 1-year high of $50.30.

Intel (NASDAQ:INTC) last announced its quarterly earnings data 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). The company had revenue of $13.30 billion during the quarter, compared to analyst estimates of $13.02 billion. Intel had a negative net margin of 29.42% and a negative return on equity of 1.71%. Intel’s revenue was down 6.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.28 earnings per share. As a group, equities research analysts expect that Intel Co. will post -0.87 EPS for the current fiscal year.

Analyst Ratings Changes

INTC has been the topic of several research reports. Barclays cut their target price on Intel from $25.00 to $23.00 and set an “equal weight” rating on the stock in a research note on Friday. Needham & Company LLC restated a “hold” rating on shares of Intel in a report on Friday, November 1st. Northland Securities decreased their target price on shares of Intel from $42.00 to $28.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Bank of America reissued an “underperform” rating and set a $21.00 price target on shares of Intel in a research report on Tuesday, December 3rd. Finally, Robert W. Baird lifted their target price on Intel from $20.00 to $25.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Six analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $29.88.

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.