KBC Group NV Sells 124,317 Shares of Intel Co. (NASDAQ:INTC)

KBC Group NV cut its position in shares of Intel Co. (NASDAQ:INTC - Free Report) by 9.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,135,764 shares of the chip maker's stock after selling 124,317 shares during the quarter. KBC Group NV's holdings in Intel were worth $26,645,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the stock. Cable Hill Partners LLC increased its position in shares of Intel by 9.0% in the third quarter. Cable Hill Partners LLC now owns 22,364 shares of the chip maker's stock valued at $525,000 after acquiring an additional 1,839 shares during the period. Mizuho Securities Co. Ltd. grew its stake in shares of Intel by 2,910.4% in the third quarter. Mizuho Securities Co. Ltd. now owns 28,900 shares of the chip maker's stock worth $678,000 after purchasing an additional 27,940 shares during the last quarter. ICICI Prudential Asset Management Co Ltd increased its holdings in Intel by 19.4% during the 3rd quarter. ICICI Prudential Asset Management Co Ltd now owns 55,821 shares of the chip maker's stock valued at $1,310,000 after purchasing an additional 9,057 shares during the period. Angeles Investment Advisors LLC raised its position in Intel by 40.5% during the 3rd quarter. Angeles Investment Advisors LLC now owns 14,775 shares of the chip maker's stock valued at $347,000 after purchasing an additional 4,260 shares during the last quarter. Finally, Encompass Wealth Advisors LLC lifted its holdings in Intel by 19.7% in the 3rd quarter. Encompass Wealth Advisors LLC now owns 18,893 shares of the chip maker's stock worth $443,000 after buying an additional 3,114 shares during the period. 64.53% of the stock is owned by hedge funds and other institutional investors.

Intel Price Performance

Shares of NASDAQ:INTC opened at $24.35 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.97 and a current ratio of 1.31. The firm has a market cap of $105.02 billion, a price-to-earnings ratio of -6.55 and a beta of 1.03. The business has a 50-day simple moving average of $22.69 and a two-hundred day simple moving average of $26.36. Intel Co. has a fifty-two week low of $18.51 and a fifty-two week high of $51.28.

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 analysts' consensus estimates 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 the consensus estimate of $13.02 billion. During the same quarter in the previous year, the business posted $0.28 EPS. Intel's revenue was down 6.3% on a year-over-year basis. On average, analysts expect that Intel Co. will post -0.83 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Michelle Johnston Holthaus sold 25,000 shares of the business'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 transaction, the executive vice president now owns 273,258 shares of the company's stock, valued at approximately $7,104,708. The trade was a 8.38 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.04% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on INTC shares. Needham & Company LLC restated a "hold" rating on shares of Intel in a report on Friday, November 1st. UBS Group dropped their target price on shares of Intel from $37.00 to $32.00 and set a "neutral" rating for the company in a research report on Friday, August 2nd. JPMorgan Chase & Co. reduced their price target on shares of Intel from $35.00 to $26.00 and set an "underweight" rating on the stock in a research report on Friday, August 2nd. New Street Research lowered shares of Intel from a "buy" rating to a "neutral" rating in a report on Friday, August 2nd. Finally, Truist Financial lifted their price objective on Intel from $25.00 to $26.00 and gave the company a "hold" rating in a research report on Friday, November 1st. Six analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus 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.