Intel Co. (NASDAQ:INTC) Shares Sold by Meridian Investment Counsel Inc.

Meridian Investment Counsel Inc. cut its stake in shares of Intel Co. (NASDAQ:INTC) by 6.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 67,181 shares of the chip maker’s stock after selling 4,282 shares during the quarter. Meridian Investment Counsel Inc.’s holdings in Intel were worth $1,576,000 as of its most recent SEC filing.

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

Intel Price Performance

Shares of NASDAQ:INTC opened at $24.35 on Friday. The company’s fifty day moving average is $22.69 and its two-hundred day moving average is $26.36. The company has a market cap of $105.02 billion, a P/E ratio of -6.55 and a beta of 1.03. The company has a quick ratio of 0.97, a current ratio of 1.31 and a debt-to-equity ratio of 0.44. Intel Co. has a 12-month low of $18.51 and a 12-month high of $51.28.

Intel (NASDAQ:INTC) last released 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). Intel had a negative return on equity of 1.71% and a negative net margin of 29.42%. The company had revenue of $13.30 billion during the quarter, compared to analysts’ expectations of $13.02 billion. During the same quarter in the previous year, the company earned $0.28 EPS. The firm’s quarterly revenue was down 6.3% compared to the same quarter last year. Equities analysts expect that Intel Co. will post -0.83 earnings per share for the current fiscal year.

Insider Activity at Intel

In other news, EVP Michelle Johnston Holthaus sold 25,000 shares of the company’s 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 directly owns 273,258 shares in the company, valued at $7,104,708. The trade was a 8.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.04% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on INTC shares. Robert W. Baird raised their price target on Intel from $20.00 to $25.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Susquehanna dropped their price objective on shares of Intel from $35.00 to $26.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Argus lowered Intel from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of Intel in a report on Friday, November 1st. Finally, Northland Securities cut their price target on Intel from $42.00 to $28.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Six research analysts have rated the stock with a sell rating, twenty-five have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company 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.