Mascoma Wealth Management LLC Cuts Stake in Intel Co. (NASDAQ:INTC)

Mascoma Wealth Management LLC lessened its stake in shares of Intel Co. (NASDAQ:INTC) by 24.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,523 shares of the chip maker’s stock after selling 817 shares during the period. Mascoma Wealth Management LLC’s holdings in Intel were worth $59,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Platform Technology Partners raised its stake in Intel by 43.5% in the 3rd quarter. Platform Technology Partners now owns 11,565 shares of the chip maker’s stock valued at $271,000 after purchasing an additional 3,508 shares during the last quarter. Rakuten Securities Inc. grew its holdings in shares of Intel by 217.0% during the third quarter. Rakuten Securities Inc. now owns 91,251 shares of the chip maker’s stock worth $2,141,000 after buying an additional 62,461 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position in shares of Intel by 1.6% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 10,380,522 shares of the chip maker’s stock valued at $243,527,000 after buying an additional 163,478 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd lifted its stake in shares of Intel by 304.3% in the third quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 954,293 shares of the chip maker’s stock worth $22,827,000 after buying an additional 718,234 shares in the last quarter. Finally, WealthPlan Investment Management LLC acquired a new position in Intel during the third quarter worth about $1,482,000. 64.53% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Intel 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 sale, the executive vice president now directly owns 273,258 shares of the company’s stock, valued at $7,104,708. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.04% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on INTC. Roth Mkm decreased their target price on shares of Intel from $35.00 to $25.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Hsbc Global Res downgraded Intel from a “hold” rating to a “moderate sell” rating in a research note on Friday, August 2nd. Barclays lowered their price target on shares of Intel from $40.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Friday, August 2nd. Stifel Nicolaus restated a “hold” rating and set a $25.00 price objective (down from $28.00) on shares of Intel in a research report on Friday, October 25th. Finally, HSBC cut Intel from a “hold” rating to a “reduce” 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 issued a buy rating to the stock. According to MarketBeat, Intel currently has a consensus rating of “Hold” and a consensus price target of $30.12.

Intel Stock Down 4.4 %

Shares of NASDAQ:INTC opened at $25.05 on Tuesday. The firm has a 50 day simple moving average of $22.28 and a 200-day simple moving average of $26.48. Intel Co. has a twelve month low of $18.51 and a twelve month 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. The company has a market capitalization of $108.04 billion, a PE ratio of -6.73 and a beta of 1.03.

Intel (NASDAQ:INTC) last released its quarterly earnings data on Thursday, October 31st. The chip maker reported ($0.46) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.44). Intel had a negative net margin of 29.42% and a negative return on equity of 1.71%. The company had revenue of $13.30 billion during the quarter, compared to analyst estimates of $13.02 billion. During the same quarter in the prior year, the company earned $0.28 EPS. The business’s revenue was down 6.3% on a year-over-year basis. On average, equities analysts predict that Intel Co. will post -0.83 EPS for the current fiscal year.

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.