Meridian Investment Counsel Inc. Has $1.58 Million Holdings in Intel Co. (NASDAQ:INTC)

Meridian Investment Counsel Inc. trimmed its position in Intel Co. (NASDAQ:INTC) by 6.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Guardian Capital Advisors LP raised its stake in shares of Intel by 2.1% in the 1st quarter. Guardian Capital Advisors LP now owns 16,030 shares of the chip maker’s stock valued at $708,000 after buying an additional 328 shares in the last quarter. Key Financial Inc boosted its position in shares of Intel by 4.1% during the 2nd quarter. Key Financial Inc now owns 8,685 shares of the chip maker’s stock valued at $269,000 after acquiring an additional 340 shares in the last quarter. W.G. Shaheen & Associates DBA Whitney & Co increased its stake in Intel by 1.4% in the second quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 24,779 shares of the chip maker’s stock valued at $767,000 after acquiring an additional 348 shares during the period. Cypress Asset Management Inc. TX raised its position in Intel by 1.6% in the first quarter. Cypress Asset Management Inc. TX now owns 22,835 shares of the chip maker’s stock worth $1,015,000 after purchasing an additional 350 shares in the last quarter. Finally, Cidel Asset Management Inc. lifted its stake in Intel by 0.6% during the second quarter. Cidel Asset Management Inc. now owns 64,589 shares of the chip maker’s stock worth $2,000,000 after purchasing an additional 381 shares during the period. 64.53% of the stock is owned by institutional investors.

Insider Buying and Selling at Intel

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of the business’s 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 sale, 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 position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.04% of the company’s stock.

Intel Stock Performance

INTC opened at $24.35 on Friday. 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 company has a market capitalization of $105.02 billion, a price-to-earnings ratio of -6.55 and a beta of 1.03. Intel Co. has a 1 year low of $18.51 and a 1 year high of $51.28. The business’s 50-day moving average price is $22.69 and its two-hundred day moving average price is $26.36.

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

Analyst Ratings Changes

A number of brokerages have recently issued reports on INTC. Hsbc Global Res cut Intel from a “hold” rating to a “moderate sell” rating in a report on Friday, August 2nd. HSBC cut shares of Intel from a “hold” rating to a “reduce” rating in a research report on Friday, August 2nd. Robert W. Baird boosted their price target on shares of Intel from $20.00 to $25.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. UBS Group decreased their price target on Intel from $37.00 to $32.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Finally, Wedbush dropped their target price on Intel from $32.50 to $25.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Six analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price 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.