TCW Group Inc. Decreases Stock Holdings in Intel Co. (NASDAQ:INTC)

TCW Group Inc. cut its stake in Intel Co. (NASDAQ:INTC - Free Report) by 46.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 58,277 shares of the chip maker's stock after selling 50,765 shares during the quarter. TCW Group Inc.'s holdings in Intel were worth $1,367,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. America First Investment Advisors LLC acquired a new stake in Intel in the second quarter valued at approximately $25,000. Cyrus J. Lawrence LLC acquired a new stake in shares of Intel in the 2nd quarter worth $27,000. Quest Partners LLC grew its stake in Intel by 7,370.6% during the 3rd quarter. Quest Partners LLC now owns 1,270 shares of the chip maker's stock worth $30,000 after buying an additional 1,253 shares during the last quarter. Spartan Fund Management Inc. acquired a new position in Intel during the 2nd quarter valued at about $31,000. Finally, Financial Connections Group Inc. purchased a new stake in Intel in the second quarter valued at about $32,000. 64.53% of the stock is owned by institutional investors.

Intel Price Performance

NASDAQ INTC traded down $0.44 during trading hours on Friday, reaching $20.34. The company's stock had a trading volume of 54,958,367 shares, compared to its average volume of 61,653,441. 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 $51.28. The company's 50-day moving average is $23.17 and its two-hundred day moving average is $25.30. The firm has a market capitalization of $87.73 billion, a price-to-earnings ratio of -5.49 and a beta of 1.05.

Intel (NASDAQ:INTC - Get Free Report) last announced its earnings results on Thursday, October 31st. The chip maker reported ($0.46) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.44). The business had revenue of $13.30 billion for the quarter, compared to analysts' expectations of $13.02 billion. Intel had a negative net margin of 29.42% and a negative return on equity of 1.71%. The company's quarterly revenue was down 6.3% on a year-over-year basis. During the same quarter last year, the business earned $0.28 EPS. On average, equities analysts predict that Intel Co. will post -0.87 EPS for the current year.

Insider Activity

In other Intel news, EVP Michelle Johnston Holthaus sold 25,000 shares of the 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 completion of the transaction, the executive vice president now owns 273,258 shares of the company's stock, valued at $7,104,708. This represents a 8.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.04% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on INTC shares. TD Cowen upgraded shares of Intel to a "hold" rating in a report on Monday, September 16th. 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 note on Friday, November 1st. The Goldman Sachs Group dropped their price objective on shares of Intel from $22.00 to $21.00 and set a "sell" rating on the stock in a report on Thursday, October 17th. Bank of America restated an "underperform" rating and issued a $21.00 target price on shares of Intel in a research note on Tuesday, December 3rd. Finally, Stifel Nicolaus reiterated a "hold" rating and set a $25.00 price target (down previously from $28.00) on shares of Intel in a research note on Friday, October 25th. Six analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Intel presently has an average rating of "Hold" and a consensus target price of $30.04.

Intel Company 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.