Intel Co. (NASDAQ:INTC) Stake Lifted by Concentric Capital Strategies LP

Concentric Capital Strategies LP raised its stake in Intel Co. (NASDAQ:INTC) by 642.8% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 333,000 shares of the chip maker’s stock after buying an additional 288,170 shares during the quarter. Concentric Capital Strategies LP’s holdings in Intel were worth $7,812,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of INTC. America First Investment Advisors LLC bought a new stake in shares of Intel during the second quarter valued at approximately $25,000. Cyrus J. Lawrence LLC acquired a new position in shares of Intel during the second quarter valued at $27,000. Quest Partners LLC grew its position in 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 buying an additional 1,253 shares in the last quarter. Spartan Fund Management Inc. acquired a new position in Intel during the 2nd quarter valued at about $31,000. Finally, Financial Connections Group Inc. bought a new stake in shares of Intel during the 2nd quarter worth about $32,000. Institutional investors own 64.53% of the company’s stock.

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 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. This represents a 8.38 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.04% of the stock is currently owned by corporate insiders.

Intel Stock Performance

INTC opened at $24.05 on Monday. The stock has a 50-day moving average of $23.48 and a 200-day moving average of $25.85. 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 Co. has a 52-week low of $18.51 and a 52-week high of $51.28. The company has a market cap of $103.73 billion, a PE ratio of -6.47 and a beta of 1.03.

Intel (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, October 31st. The chip maker reported ($0.46) EPS 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 company had revenue of $13.30 billion for the quarter, compared to analyst estimates of $13.02 billion. During the same quarter last year, the business earned $0.28 EPS. The company’s revenue for the quarter was down 6.3% on a year-over-year basis. As a group, equities research analysts forecast that Intel Co. will post -0.87 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

INTC has been the topic of a number of research analyst reports. 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. Stifel Nicolaus restated a “hold” rating and issued a $25.00 price objective (down previously from $28.00) on shares of Intel in a report on Friday, October 25th. The Goldman Sachs Group lowered their target price on Intel from $22.00 to $21.00 and set a “sell” rating on the stock in a report on Thursday, October 17th. StockNews.com lowered shares of Intel from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. Finally, Rosenblatt Securities reiterated a “sell” rating and issued a $17.00 target price on shares of Intel in a report on Tuesday, October 29th. Six analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Intel presently has an average rating of “Hold” and a consensus price target of $30.12.

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.