Ballast Inc. Purchases 8,980 Shares of Intel Co. (NASDAQ:INTC)

Ballast Inc. grew its position in shares of Intel Co. (NASDAQ:INTC) by 26.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 42,831 shares of the chip maker’s stock after buying an additional 8,980 shares during the quarter. Ballast Inc.’s holdings in Intel were worth $859,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Activity at Intel

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of the firm’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 directly owns 273,258 shares in the company, valued at approximately $7,104,708. This trade represents a 8.38 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.04% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Robert W. Baird upped their price target on Intel from $20.00 to $25.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Bank of America restated an “underperform” rating and set a $21.00 target price on shares of Intel in a research report on Tuesday, December 3rd. Stifel Nicolaus reiterated a “hold” rating and set a $25.00 price target (down previously from $28.00) on shares of Intel in a research report on Friday, October 25th. Rosenblatt Securities restated a “sell” rating and issued a $17.00 price objective on shares of Intel in a report on Tuesday, October 29th. Finally, Benchmark reaffirmed a “hold” rating on shares of Intel in a report on Friday, November 1st. Six equities research 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 currently has an average rating of “Hold” and an average price target of $29.88.

Intel Price Performance

Shares of INTC stock opened at $21.49 on Friday. The firm’s fifty day moving average price is $21.55 and its two-hundred day moving average price is $23.32. Intel Co. has a 1 year low of $18.51 and a 1 year high of $50.30. The company has a current ratio of 1.31, a quick ratio of 0.97 and a debt-to-equity ratio of 0.44.

Intel (NASDAQ:INTC) last issued 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). The company had revenue of $13.30 billion for 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%. The business’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same period last year, the company posted $0.28 earnings per share. As a group, analysts expect that Intel Co. will post -0.87 EPS for the current 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.