Sheaff Brock Investment Advisors LLC Decreases Stake in Intel Co. (NASDAQ:INTC)

Sheaff Brock Investment Advisors LLC trimmed its position in Intel Co. (NASDAQ:INTC - Free Report) by 36.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 55,038 shares of the chip maker's stock after selling 31,913 shares during the quarter. Sheaff Brock Investment Advisors LLC's holdings in Intel were worth $1,291,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. America First Investment Advisors LLC purchased a new position in shares of Intel in the 2nd quarter worth $25,000. Cyrus J. Lawrence LLC bought a new stake in Intel during the second quarter worth approximately $27,000. Spartan Fund Management Inc. purchased a new stake in Intel during the second quarter valued at approximately $31,000. Financial Connections Group Inc. bought a new stake in shares of Intel in the 2nd quarter valued at approximately $32,000. Finally, Triad Wealth Partners LLC purchased a new position in shares of Intel in the 2nd quarter worth approximately $33,000. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related 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 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 $7,104,708. This represents a 8.38 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.04% of the company's stock.

Intel Stock Performance

INTC stock traded down $0.68 during midday trading on Friday, hitting $24.35. 55,104,875 shares of the stock traded hands, compared to its average volume of 60,061,836. Intel Co. has a 1-year low of $18.51 and a 1-year high of $51.28. 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's fifty day simple moving average is $22.69 and its 200-day simple moving average is $26.36. The firm has a market cap of $105.02 billion, a P/E ratio of -6.55 and a beta of 1.03.

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 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 business had revenue of $13.30 billion during the quarter, compared to analyst estimates of $13.02 billion. During the same period in the previous year, the company posted $0.28 EPS. The business's revenue for the quarter was down 6.3% compared to the same quarter last year. On average, analysts expect that Intel Co. will post -0.83 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. StockNews.com downgraded Intel from a "hold" rating to a "sell" rating in a research report on Friday, August 9th. TD Cowen raised shares of Intel to a "hold" rating in a research note on Monday, September 16th. Truist Financial boosted their target price on Intel from $25.00 to $26.00 and gave the company a "hold" rating in a research report on Friday, November 1st. Susquehanna reduced their price target on Intel from $35.00 to $26.00 and set a "neutral" rating on the stock in a report on Friday, August 2nd. Finally, Stifel Nicolaus reaffirmed a "hold" rating and issued a $25.00 price objective (down previously from $28.00) on shares of Intel in a research report on Friday, October 25th. 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 company's stock. According to data from MarketBeat, Intel 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.