Intel Co. (NASDAQ:INTC) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. decreased its holdings in shares of Intel Co. (NASDAQ:INTC) by 15.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,274,034 shares of the chip maker’s stock after selling 943,342 shares during the period. PNC Financial Services Group Inc.’s holdings in Intel were worth $123,729,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in INTC. America First Investment Advisors LLC purchased a new stake in shares of Intel during the 2nd quarter worth approximately $25,000. Cyrus J. Lawrence LLC purchased a new stake in shares of Intel during the 2nd quarter worth approximately $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 shares of Intel during the 2nd quarter worth approximately $32,000. Finally, Triad Wealth Partners LLC purchased a new stake in shares of Intel during the 2nd quarter worth approximately $33,000. Institutional investors and hedge funds own 64.53% of the company’s stock.

Insider Transactions at Intel

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of the 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 approximately $7,104,708. This represents a 8.38 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.04% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. 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 note on Friday, August 2nd. Truist Financial boosted their price target on Intel from $25.00 to $26.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. Benchmark reaffirmed a “hold” rating on shares of Intel in a research note on Friday, November 1st. JPMorgan Chase & Co. reduced their target price on Intel from $35.00 to $26.00 and set an “underweight” rating on the stock in a research note on Friday, August 2nd. Finally, New Street Research lowered Intel from a “buy” rating to a “neutral” rating in a research note on Friday, August 2nd. Six 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 company’s stock. According to MarketBeat.com, Intel has a consensus rating of “Hold” and a consensus target price of $30.12.

Intel Trading Down 2.6 %

INTC stock opened at $24.20 on Wednesday. The company has a market cap of $104.37 billion, a price-to-earnings ratio of -6.51 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. The business has a fifty day simple moving average of $22.91 and a 200-day simple moving average of $26.21. Intel Co. has a 52 week low of $18.51 and a 52 week high of $51.28.

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

Intel Company 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.