Miracle Mile Advisors LLC Purchases 27,607 Shares of Intel Co. (NASDAQ:INTC)

Miracle Mile Advisors LLC lifted its holdings in shares of Intel Co. (NASDAQ:INTC - Free Report) by 82.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 61,245 shares of the chip maker's stock after purchasing an additional 27,607 shares during the period. Miracle Mile Advisors LLC's holdings in Intel were worth $1,228,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Cyrus J. Lawrence LLC acquired a new position in Intel during the 2nd quarter worth about $27,000. Quest Partners LLC raised its position in shares of Intel by 7,370.6% during the third quarter. Quest Partners LLC now owns 1,270 shares of the chip maker's stock worth $30,000 after acquiring an additional 1,253 shares during the last quarter. Groupama Asset Managment lifted its stake in shares of Intel by 6.3% in the third quarter. Groupama Asset Managment now owns 137,181 shares of the chip maker's stock worth $32,000 after acquiring an additional 8,084 shares during the period. FSA Wealth Management LLC bought a new stake in Intel in the third quarter valued at approximately $34,000. Finally, Capital Performance Advisors LLP bought a new position in Intel during the 3rd quarter worth approximately $36,000. Institutional investors own 64.53% of the company's stock.

Intel Price Performance

INTC opened at $19.20 on Wednesday. The firm's fifty day moving average price is $21.89 and its two-hundred day moving average price is $23.49. The company has a market capitalization of $82.81 billion, a price-to-earnings ratio of -5.16 and a beta of 1.07. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.31 and a quick ratio of 0.97. Intel Co. has a 1 year low of $18.51 and a 1 year high of $50.30.

Intel (NASDAQ:INTC - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The chip maker reported ($0.46) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.44). The firm had revenue of $13.30 billion for the quarter, compared to analysts' expectations of $13.02 billion. Intel had a negative return on equity of 1.71% and a negative net margin of 29.42%. The firm's revenue for the quarter was down 6.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.28 earnings per share. As a group, analysts anticipate that Intel Co. will post -0.87 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on INTC shares. Benchmark reaffirmed a "hold" rating on shares of Intel in a research note on Friday, November 1st. Truist Financial upped their price target on shares of Intel from $25.00 to $26.00 and gave the company a "hold" rating in a research report on Friday, November 1st. Robert W. Baird lifted their price objective on Intel from $20.00 to $25.00 and gave the stock a "neutral" rating in a research report on Friday, November 1st. Needham & Company LLC restated a "hold" rating on shares of Intel in a research report on Friday, November 1st. Finally, The Goldman Sachs Group lowered their target price on Intel from $22.00 to $21.00 and set a "sell" rating for the company in a report on Thursday, October 17th. Six 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 stock. According to data from MarketBeat, Intel has an average rating of "Hold" and an average price target of $29.96.

Insider Activity

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $26.00, for a total transaction of $650,000.00. Following the completion of the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.04% of the stock is currently owned by corporate insiders.

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.