Busey Bank Sells 1,674 Shares of Intel Co. (NASDAQ:INTC)

Busey Bank trimmed its holdings in Intel Co. (NASDAQ:INTC) by 1.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 118,861 shares of the chip maker’s stock after selling 1,674 shares during the period. Busey Bank’s holdings in Intel were worth $2,383,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Quest Partners LLC boosted its stake in Intel by 7,370.6% during 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 last quarter. Finley Financial LLC purchased a new position in shares of Intel during the fourth quarter valued at approximately $25,000. FSA Wealth Management LLC bought a new stake in Intel during the third quarter worth $34,000. Capital Performance Advisors LLP purchased a new stake in Intel in the 3rd quarter valued at $36,000. Finally, West Financial Advisors LLC bought a new position in Intel during the 4th quarter valued at $31,000. 64.53% of the stock is owned by institutional investors.

Intel Stock Performance

Intel stock opened at $19.77 on Thursday. Intel Co. has a fifty-two week low of $18.51 and a fifty-two week high of $46.63. The firm’s fifty day moving average price is $21.06 and its 200-day moving average price is $22.65. The stock has a market cap of $85.25 billion, a P/E ratio of -5.31, a price-to-earnings-growth ratio of 9.72 and a beta of 1.07. 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 released its quarterly earnings results on Thursday, October 31st. The chip maker reported ($0.46) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.44). The firm had revenue of $13.30 billion for the quarter, compared to analysts’ expectations of $13.02 billion. Intel had a negative net margin of 29.42% and a negative return on equity of 1.71%. The company’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.28 EPS. On average, equities research analysts expect that Intel Co. will post -0.87 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Michelle Johnston Holthaus sold 25,000 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $26.00, for a total transaction of $650,000.00. Following the transaction, the executive vice president now directly owns 273,258 shares of the company’s stock, valued at approximately $7,104,708. This trade represents a 8.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.04% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Barclays lowered their target price on shares of Intel from $25.00 to $23.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. HSBC raised Intel from a “reduce” rating to a “hold” rating in a report on Tuesday, January 21st. The Goldman Sachs Group dropped their price target on Intel from $22.00 to $21.00 and set a “sell” rating on the stock in a report on Thursday, October 17th. Benchmark reaffirmed a “hold” rating on shares of Intel in a research report on Friday, November 1st. Finally, Truist Financial boosted their price target on shares of Intel from $25.00 to $26.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Five analysts have rated the stock with a sell rating, twenty-seven have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $28.00.

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.