Kentucky Retirement Systems Lowers Holdings in Intel Co. (NASDAQ:INTC)

Kentucky Retirement Systems cut its holdings in shares of Intel Co. (NASDAQ:INTC - Free Report) by 7.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 297,262 shares of the chip maker's stock after selling 23,530 shares during the quarter. Kentucky Retirement Systems' holdings in Intel were worth $6,974,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Guardian Capital Advisors LP increased its holdings in shares of Intel by 2.1% in the first quarter. Guardian Capital Advisors LP now owns 16,030 shares of the chip maker's stock worth $708,000 after purchasing an additional 328 shares during the period. Key Financial Inc increased its stake in Intel by 4.1% in the 2nd quarter. Key Financial Inc now owns 8,685 shares of the chip maker's stock worth $269,000 after acquiring an additional 340 shares during the last quarter. W.G. Shaheen & Associates DBA Whitney & Co boosted its position in shares of Intel by 1.4% during the 2nd quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 24,779 shares of the chip maker's stock valued at $767,000 after acquiring an additional 348 shares during the last quarter. Cypress Asset Management Inc. TX grew its holdings in shares of Intel by 1.6% during the first quarter. Cypress Asset Management Inc. TX now owns 22,835 shares of the chip maker's stock worth $1,015,000 after purchasing an additional 350 shares in the last quarter. Finally, Cidel Asset Management Inc. increased its position in shares of Intel by 0.6% in the second quarter. Cidel Asset Management Inc. now owns 64,589 shares of the chip maker's stock worth $2,000,000 after purchasing an additional 381 shares during the last quarter. Institutional investors own 64.53% of the company's stock.

Intel Trading Down 2.7 %

NASDAQ:INTC traded down $0.68 during trading hours on Friday, hitting $24.35. The company had a trading volume of 55,104,875 shares, compared to its average volume of 60,061,836. 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 50-day moving average price of $22.69 and a 200 day moving average price of $26.36. The company has a market capitalization of $105.02 billion, a PE ratio of -6.55 and a beta of 1.03. Intel Co. has a 52 week low of $18.51 and a 52 week high of $51.28.

Intel (NASDAQ:INTC - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The chip maker reported ($0.46) earnings per share (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 analysts' expectations of $13.02 billion. During the same quarter in the prior year, the firm earned $0.28 EPS. Intel's quarterly revenue was down 6.3% compared to the same quarter last year. On average, equities research analysts predict that Intel Co. will post -0.83 EPS for the current fiscal year.

Insider Activity at Intel

In other Intel news, EVP Michelle Johnston Holthaus sold 25,000 shares of the company'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 sale, the executive vice president now owns 273,258 shares in the company, valued at approximately $7,104,708. This represents a 8.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.04% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Hsbc Global Res lowered shares of Intel from a "hold" rating to a "moderate sell" rating in a research report on Friday, August 2nd. Argus downgraded Intel from a "buy" rating to a "hold" rating in a research report on Tuesday, August 6th. Bank of America cut Intel from a "neutral" rating to an "underperform" rating and decreased their price objective for the company from $35.00 to $23.00 in a report on Friday, August 2nd. Roth Mkm dropped their target price on Intel from $35.00 to $25.00 and set a "neutral" rating for the company in a research report on Friday, August 2nd. Finally, Mizuho increased their price target on shares of Intel from $22.00 to $23.00 and gave the company a "neutral" rating in a research 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 issued a buy rating to the company. According to MarketBeat, the company currently 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.