Intel Co. (NASDAQ:INTC) Shares Sold by Grimes & Company Inc.

Grimes & Company Inc. lowered its stake in Intel Co. (NASDAQ:INTC - Free Report) by 18.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 84,700 shares of the chip maker's stock after selling 19,284 shares during the quarter. Grimes & Company Inc.'s holdings in Intel were worth $1,698,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of INTC. Assenagon Asset Management S.A. boosted its position in Intel by 264.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 19,617,088 shares of the chip maker's stock worth $393,323,000 after acquiring an additional 14,227,458 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Intel by 28.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 58,469,412 shares of the chip maker's stock worth $1,371,692,000 after purchasing an additional 12,865,308 shares during the last quarter. Van ECK Associates Corp boosted its holdings in shares of Intel by 27.2% during the third quarter. Van ECK Associates Corp now owns 44,013,936 shares of the chip maker's stock worth $967,426,000 after purchasing an additional 9,422,136 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its stake in Intel by 224.8% in the third quarter. Jacobs Levy Equity Management Inc. now owns 10,413,544 shares of the chip maker's stock valued at $244,302,000 after purchasing an additional 7,207,785 shares during the last quarter. Finally, State Street Corp lifted its position in Intel by 2.8% during the third quarter. State Street Corp now owns 197,958,739 shares of the chip maker's stock worth $4,644,112,000 after buying an additional 5,417,753 shares during the period. 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 company's stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $26.00, for a total transaction of $650,000.00. Following the sale, the executive vice president now owns 273,258 shares in the company, 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 SEC, which is available through this link. 0.04% of the stock is owned by company insiders.

Intel Stock Down 3.4 %

INTC traded down $0.74 on Friday, reaching $20.83. The company's stock had a trading volume of 66,104,293 shares, compared to its average volume of 53,998,324. Intel Co. has a 1 year low of $18.51 and a 1 year high of $50.30. The business's 50 day moving average is $21.23 and its 200 day moving average is $22.93. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.31 and a quick ratio of 0.97. The stock has a market cap of $89.84 billion, a price-to-earnings ratio of -5.60, a price-to-earnings-growth ratio of 9.72 and a beta of 1.07.

Intel (NASDAQ:INTC - Get Free Report) last released its 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 business 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 business's quarterly revenue was down 6.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.28 earnings per share. As a group, research analysts forecast that Intel Co. will post -0.87 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have commented on INTC. Deutsche Bank Aktiengesellschaft lowered their price target on Intel from $27.00 to $25.00 and set a "hold" rating for the company in a report on Thursday, October 3rd. Mizuho dropped their price target on shares of Intel from $23.00 to $21.00 and set a "neutral" rating for the company in a research report on Friday, January 10th. Citigroup cut their price target on shares of Intel from $22.00 to $21.00 and set a "neutral" rating on the stock in a research note on Tuesday, January 21st. Truist Financial boosted their price objective on shares of Intel from $25.00 to $26.00 and gave the company a "hold" rating in a research note on Friday, November 1st. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Intel in a research report on Friday, November 1st. Five investment analysts have rated the stock with a sell rating, twenty-seven have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Intel has a consensus rating of "Hold" and an average price target of $28.81.

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.