Lowe Brockenbrough & Co. Inc. Cuts Stock Position in Intel Co. (NASDAQ:INTC)

Lowe Brockenbrough & Co. Inc. decreased its holdings in shares of Intel Co. (NASDAQ:INTC) by 15.3% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 59,393 shares of the chip maker’s stock after selling 10,732 shares during the period. Lowe Brockenbrough & Co. Inc.’s holdings in Intel were worth $1,393,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes 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 Intel during the 2nd quarter valued at $27,000. Spartan Fund Management Inc. purchased a new stake in Intel during the 2nd quarter worth $31,000. Financial Connections Group Inc. acquired a new position in Intel in the 2nd quarter worth $32,000. Finally, Triad Wealth Partners LLC purchased a new position in Intel in the 2nd quarter valued at about $33,000. 64.53% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Patrick P. Gelsinger acquired 12,500 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were acquired at an average price of $20.16 per share, for a total transaction of $252,000.00. Following the completion of the purchase, the chief executive officer now directly owns 37,975 shares of the company’s stock, valued at $765,576. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.04% of the stock is owned by insiders.

Intel Stock Up 7.8 %

Shares of Intel stock opened at $23.20 on Friday. Intel Co. has a 1-year low of $18.51 and a 1-year high of $51.28. The company has a market capitalization of $99.20 billion, a P/E ratio of -6.24 and a beta of 1.03. The business’s fifty day moving average price is $21.79 and its two-hundred day moving average price is $26.96. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.59 and a quick ratio of 1.24.

Intel (NASDAQ:INTC) last posted its quarterly earnings data on Thursday, August 1st. The chip maker reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.08). The company had revenue of $12.80 billion during the quarter, compared to analyst estimates of $12.92 billion. Intel had a negative return on equity of 1.68% and a negative net margin of 29.42%. The business’s revenue for the quarter was down .8% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.05) EPS. As a group, research analysts forecast that Intel Co. will post -0.47 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Daiwa America upgraded Intel to a “hold” rating in a research note on Monday, August 26th. New Street Research cut Intel from a “buy” rating to a “neutral” rating in a research note on Friday, August 2nd. Raymond James downgraded shares of Intel from an “outperform” rating to a “market perform” rating in a research report on Friday, August 2nd. Truist Financial increased their price objective on shares of Intel from $25.00 to $26.00 and gave the company a “hold” rating in a research note on Friday. Finally, Morgan Stanley dropped their target price on shares of Intel from $36.00 to $25.00 and set an “equal weight” rating for the company in a research report on Friday, August 2nd. Six research 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $30.12.

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.