Meeder Asset Management Inc. Sells 156,255 Shares of Intel Co. (NASDAQ:INTC)

Meeder Asset Management Inc. reduced its holdings in Intel Co. (NASDAQ:INTC - Free Report) by 82.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 33,096 shares of the chip maker's stock after selling 156,255 shares during the quarter. Meeder Asset Management Inc.'s holdings in Intel were worth $776,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of INTC. William B. Walkup & Associates Inc. bought a new position in shares of Intel during the 2nd quarter worth approximately $2,178,000. Swiss National Bank boosted its stake in shares of Intel by 0.3% in the third quarter. Swiss National Bank now owns 12,635,400 shares of the chip maker's stock valued at $296,426,000 after buying an additional 31,800 shares during the period. Fortis Group Advisors LLC increased its position in shares of Intel by 1,052.9% in the third quarter. Fortis Group Advisors LLC now owns 172,996 shares of the chip maker's stock worth $4,058,000 after purchasing an additional 157,991 shares during the period. Mizuho Securities Co. Ltd. boosted its position in shares of Intel by 2,910.4% during the 3rd quarter. Mizuho Securities Co. Ltd. now owns 28,900 shares of the chip maker's stock worth $678,000 after acquiring an additional 27,940 shares in the last quarter. Finally, Private Advisory Group LLC acquired a new stake in shares of Intel in the 3rd quarter valued at $8,045,000. Institutional investors own 64.53% of the company's stock.

Insider Buying and Selling at Intel

In other news, EVP Michelle Johnston Holthaus sold 25,000 shares of the firm's 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 transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.04% of the company's stock.

Intel Stock Down 0.8 %

Shares of NASDAQ:INTC traded down $0.19 during trading on Wednesday, hitting $24.01. The stock had a trading volume of 48,673,438 shares, compared to its average volume of 60,021,453. 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 company has a market capitalization of $103.56 billion, a PE ratio of -6.47 and a beta of 1.03. The firm's fifty day moving average is $22.91 and its 200 day moving average is $26.21.

Intel (NASDAQ:INTC - Get Free Report) last announced 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 net margin of 29.42% and a negative return on equity of 1.71%. The business had revenue of $13.30 billion for the quarter, compared to the consensus estimate of $13.02 billion. During the same quarter last year, the firm posted $0.28 EPS. The business's quarterly revenue was down 6.3% on a year-over-year basis. Analysts anticipate that Intel Co. will post -0.83 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Stifel Nicolaus reiterated a "hold" rating and set a $25.00 target price (down from $28.00) on shares of Intel in a research report on Friday, October 25th. Bank of America cut Intel from a "neutral" rating to an "underperform" rating and cut their target price for the stock from $35.00 to $23.00 in a report on Friday, August 2nd. Morgan Stanley cut their target price on Intel from $36.00 to $25.00 and set an "equal weight" rating on the stock in a research note on Friday, August 2nd. Robert W. Baird increased their price target on Intel from $20.00 to $25.00 and gave the company a "neutral" rating in a research report on Friday, November 1st. Finally, Truist Financial upped their price objective on Intel from $25.00 to $26.00 and gave the company a "hold" rating in a research note on Friday, November 1st. Six 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's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $30.12.

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.