Oppenheimer Asset Management Inc. Lowers Position in Intel Co. (NASDAQ:INTC)

Oppenheimer Asset Management Inc. lowered its position in shares of Intel Co. (NASDAQ:INTC - Free Report) by 63.1% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 179,921 shares of the chip maker's stock after selling 308,110 shares during the quarter. Oppenheimer Asset Management Inc.'s holdings in Intel were worth $4,221,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. America First Investment Advisors LLC bought a new stake in Intel in the 2nd quarter valued at about $25,000. Cyrus J. Lawrence LLC bought a new stake in shares of Intel in the second quarter valued at approximately $27,000. Spartan Fund Management Inc. acquired a new stake in Intel during the second quarter worth approximately $31,000. Financial Connections Group Inc. bought a new position in Intel during the 2nd quarter worth $32,000. Finally, Triad Wealth Partners LLC acquired a new position in Intel in the 2nd quarter valued at $33,000. Institutional investors own 64.53% of the company's stock.

Insider Transactions at Intel

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $26.00, for a total value of $650,000.00. Following the transaction, the executive vice president now directly owns 273,258 shares in the company, valued at $7,104,708. This trade represents a 8.38 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.04% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently commented on INTC shares. StockNews.com cut Intel from a "hold" rating to a "sell" rating in a research report on Friday, August 9th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Intel from $27.00 to $25.00 and set a "hold" rating for the company in a research report on Thursday, October 3rd. Northland Securities reduced their price target on shares of Intel from $42.00 to $28.00 and set an "outperform" rating on the stock in a research report on Friday, November 1st. Daiwa America upgraded shares of Intel to a "hold" rating in a research report on Monday, August 26th. Finally, Mizuho upped their target price on Intel from $22.00 to $23.00 and gave the stock a "neutral" rating in a research note on Friday, November 1st. Six investment analysts have rated the stock with a sell rating, twenty-five have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $30.12.

Intel Trading Down 2.7 %

Intel stock traded down $0.68 during mid-day trading on Friday, hitting $24.35. 55,104,875 shares of the stock were exchanged, compared to its average volume of 60,061,836. The firm's fifty day simple moving average is $22.69 and its two-hundred day simple moving average is $26.36. The company has a quick ratio of 0.97, a current ratio of 1.31 and a debt-to-equity ratio of 0.44. Intel Co. has a 12 month low of $18.51 and a 12 month high of $51.28. The stock has a market capitalization of $105.02 billion, a price-to-earnings ratio of -6.55 and a beta of 1.03.

Intel (NASDAQ:INTC - Get Free Report) last released its 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 firm had revenue of $13.30 billion during the quarter, compared to analyst estimates of $13.02 billion. During the same quarter in the previous year, the firm earned $0.28 EPS. Intel's quarterly revenue was down 6.3% on a year-over-year basis. Analysts forecast that Intel Co. will post -0.83 EPS for the current year.

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.