Tompkins Financial Corp Sells 27,434 Shares of Intel Co. (NASDAQ:INTC)

Tompkins Financial Corp trimmed its position in shares of Intel Co. (NASDAQ:INTC - Free Report) by 59.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 18,557 shares of the chip maker's stock after selling 27,434 shares during the quarter. Tompkins Financial Corp's holdings in Intel were worth $435,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Intel by 30.9% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 119,045 shares of the chip maker's stock valued at $5,258,000 after purchasing an additional 28,125 shares during the last quarter. CarsonAllaria Wealth Management Ltd. increased its holdings in shares of Intel by 19.6% during the first quarter. CarsonAllaria Wealth Management Ltd. now owns 2,507 shares of the chip maker's stock valued at $111,000 after acquiring an additional 410 shares in the last quarter. WealthPLAN Partners LLC raised its position in shares of Intel by 3.7% in the 1st quarter. WealthPLAN Partners LLC now owns 79,128 shares of the chip maker's stock worth $3,495,000 after purchasing an additional 2,787 shares during the last quarter. TCI Wealth Advisors Inc. boosted its stake in Intel by 28.7% in the 1st quarter. TCI Wealth Advisors Inc. now owns 23,394 shares of the chip maker's stock worth $1,033,000 after purchasing an additional 5,222 shares in the last quarter. Finally, Keudell Morrison Wealth Management grew its position in Intel by 14.3% during the 1st quarter. Keudell Morrison Wealth Management now owns 27,840 shares of the chip maker's stock valued at $1,230,000 after purchasing an additional 3,480 shares during the last quarter. Hedge funds and other institutional investors own 64.53% of the company's stock.

Wall Street Analyst Weigh In

INTC has been the topic of a number of recent analyst reports. HSBC cut shares of Intel from a "hold" rating to a "reduce" rating in a report on Friday, August 2nd. Northland Securities dropped their price objective on Intel from $42.00 to $28.00 and set an "outperform" rating on the stock in a research report on Friday, November 1st. Roth Mkm decreased their target price on Intel from $35.00 to $25.00 and set a "neutral" rating for the company in a research report on Friday, August 2nd. Truist Financial raised their price target on shares of Intel from $25.00 to $26.00 and gave the company a "hold" rating in a report on Friday, November 1st. Finally, Hsbc Global Res cut shares of Intel from a "hold" rating to a "moderate sell" rating in a report on Friday, August 2nd. Six equities research analysts have rated the stock with a sell rating, twenty-five have given a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Intel has a consensus rating of "Hold" and a consensus price target of $30.12.

Intel Price Performance

Shares of NASDAQ:INTC traded down $0.03 during midday trading on Friday, reaching $26.20. 76,427,983 shares of the company were exchanged, compared to its average volume of 65,260,216. The stock has a market cap of $113.00 billion, a PE ratio of -7.04 and a beta of 1.03. The business's fifty day moving average is $22.22 and its two-hundred day moving average is $26.66. Intel Co. has a one year low of $18.51 and a one year high of $51.28. The company has a current ratio of 1.31, a quick ratio of 0.97 and a debt-to-equity ratio of 0.44.

Intel (NASDAQ:INTC - Get Free Report) last issued its quarterly earnings data 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). The firm 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 revenue for the quarter was down 6.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.28 EPS. As a group, analysts predict that Intel Co. will post -0.83 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of the company's stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $26.00, for a total transaction of $650,000.00. Following the sale, the executive vice president now owns 273,258 shares of the company's stock, valued at $7,104,708. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.04% of the company's stock.

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.