Kentucky Retirement Systems Insurance Trust Fund Lowers Stake in Intel Co. (NASDAQ:INTC)

Kentucky Retirement Systems Insurance Trust Fund cut its holdings in shares of Intel Co. (NASDAQ:INTC) by 8.0% during the third quarter, Holdings Channel.com reports. The institutional investor owned 126,335 shares of the chip maker’s stock after selling 10,971 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Intel were worth $2,964,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. America First Investment Advisors LLC acquired a new stake in Intel in the second quarter valued at $25,000. Cyrus J. Lawrence LLC acquired a new stake in Intel during the 2nd quarter worth $27,000. Spartan Fund Management Inc. purchased a new position in shares of Intel during the second quarter worth about $31,000. Financial Connections Group Inc. purchased a new position in shares of Intel in the 2nd quarter valued at approximately $32,000. Finally, Triad Wealth Partners LLC acquired a new position in shares of Intel in the second quarter valued at approximately $33,000. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Insider Buying and Selling at Intel

In other news, EVP Michelle Johnston Holthaus sold 25,000 shares of the company’s stock in a transaction dated Thursday, November 7th. The stock was 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 $7,104,708. This represents a 8.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.04% of the stock is currently owned by corporate insiders.

Intel Trading Down 2.7 %

Shares of INTC stock opened at $24.35 on Friday. Intel Co. has a 1-year low of $18.51 and a 1-year high of $51.28. The firm’s 50-day simple moving average is $22.69 and its 200-day simple moving average is $26.36. The firm has a market cap of $105.02 billion, a P/E ratio of -6.55 and a beta of 1.03. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.31 and a quick ratio of 0.97.

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 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 analyst estimates of $13.02 billion. During the same quarter in the prior year, the company earned $0.28 earnings per share. The business’s revenue was down 6.3% compared to the same quarter last year. As a group, equities analysts forecast that Intel Co. will post -0.83 EPS for the current year.

Analyst Ratings Changes

Several brokerages have issued reports on INTC. JPMorgan Chase & Co. dropped their price objective on shares of Intel from $35.00 to $26.00 and set an “underweight” rating on the stock in a research note on Friday, August 2nd. Northland Securities dropped their price target 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. Bank of America downgraded shares of Intel from a “neutral” rating to an “underperform” rating and reduced their price objective for the company from $35.00 to $23.00 in a research report on Friday, August 2nd. Argus cut Intel from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Finally, New Street Research downgraded Intel from a “buy” rating to a “neutral” rating in a research note on Friday, August 2nd. Six equities research analysts have rated the stock with a sell rating, twenty-five have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price 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.