Intel Co. (NASDAQ:INTC) Stock Position Decreased by Victory Capital Management Inc.

Victory Capital Management Inc. cut its position in shares of Intel Co. (NASDAQ:INTC) by 0.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,264,530 shares of the chip maker’s stock after selling 28,466 shares during the period. Victory Capital Management Inc. owned 0.08% of Intel worth $76,586,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in INTC. America First Investment Advisors LLC bought a new position in shares of Intel in the 2nd quarter valued at approximately $25,000. Cyrus J. Lawrence LLC bought a new position in shares of Intel in the 2nd quarter valued at approximately $27,000. Spartan Fund Management Inc. bought a new position in shares of Intel in the 2nd quarter valued at approximately $31,000. Financial Connections Group Inc. bought a new position in shares of Intel in the 2nd quarter valued at approximately $32,000. Finally, Triad Wealth Partners LLC bought a new position in shares of Intel in the 2nd quarter valued at approximately $33,000. 64.53% of the stock is owned by hedge funds and other institutional investors.

Intel Price Performance

Shares of INTC stock opened at $24.92 on Thursday. The stock’s fifty day simple moving average is $22.36 and its 200 day simple moving average is $26.43. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.31 and a quick ratio of 0.97. The firm has a market cap of $107.48 billion, a price-to-earnings ratio of -6.70 and a beta of 1.03. Intel Co. has a one year low of $18.51 and a one year high of $51.28.

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

Insider Buying and Selling at Intel

In other Intel news, EVP Michelle Johnston Holthaus sold 25,000 shares of Intel stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $26.00, for a total value of $650,000.00. Following the completion of the transaction, the executive vice president now owns 273,258 shares in the company, valued at approximately $7,104,708. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.04% of the company’s stock.

Analyst Ratings Changes

INTC has been the topic of a number of recent analyst reports. Argus downgraded Intel from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Roth Mkm cut their price objective on Intel from $35.00 to $25.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Truist Financial raised their target price on Intel from $25.00 to $26.00 and gave the company a “hold” rating in a report on Friday, November 1st. Robert W. Baird raised their target price on Intel from $20.00 to $25.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Finally, Bank of America lowered Intel from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $35.00 to $23.00 in a 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 assigned a buy rating to the company. Based on data from MarketBeat.com, Intel presently has an average rating of “Hold” and a consensus 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.