Denver PWM LLC Boosts Stock Position in Intel Co. (NASDAQ:INTC)

Denver PWM LLC grew its holdings in shares of Intel Co. (NASDAQ:INTC) by 752.1% in the 3rd quarter, HoldingsChannel reports. The firm owned 26,425 shares of the chip maker’s stock after acquiring an additional 23,324 shares during the quarter. Denver PWM LLC’s holdings in Intel were worth $620,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in INTC. Triad Wealth Partners LLC purchased a new position in Intel in the second quarter valued at about $33,000. Blue Trust Inc. raised its holdings in shares of Intel by 23.5% in the 2nd quarter. Blue Trust Inc. now owns 42,177 shares of the chip maker’s stock worth $1,306,000 after purchasing an additional 8,035 shares during the period. Everpar Advisors LLC lifted its stake in Intel by 4.6% in the second quarter. Everpar Advisors LLC now owns 9,822 shares of the chip maker’s stock valued at $304,000 after purchasing an additional 435 shares during the last quarter. Tyche Wealth Partners LLC grew its holdings in Intel by 40.6% during the second quarter. Tyche Wealth Partners LLC now owns 17,464 shares of the chip maker’s stock valued at $541,000 after purchasing an additional 5,040 shares during the period. Finally, McGlone Suttner Wealth Management Inc. raised its stake in shares of Intel by 6.8% in the second quarter. McGlone Suttner Wealth Management Inc. now owns 13,329 shares of the chip maker’s stock valued at $413,000 after buying an additional 844 shares during the period. 64.53% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Intel 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 transaction, the executive vice president now owns 273,258 shares in the company, valued at approximately $7,104,708. This represents a 8.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.04% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. The Goldman Sachs Group cut their price target on Intel from $22.00 to $21.00 and set a “sell” rating for the company in a research note on Thursday, October 17th. Truist Financial lifted their target price on shares of Intel from $25.00 to $26.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. Mizuho upped their price target on shares of Intel from $22.00 to $23.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Benchmark reiterated a “hold” rating on shares of Intel in a research note on Friday, November 1st. Finally, Northland Securities dropped their target price on Intel from $42.00 to $28.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Six investment 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. According to data from MarketBeat, Intel presently has a consensus rating of “Hold” and an average price target of $30.04.

Intel Price Performance

Shares of INTC stock opened at $20.78 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.97 and a current ratio of 1.31. The firm has a market cap of $89.62 billion, a P/E ratio of -5.59 and a beta of 1.05. The business’s 50 day moving average price is $23.17 and its 200-day moving average price is $25.30. Intel Co. has a fifty-two week low of $18.51 and a fifty-two week high of $51.28.

Intel (NASDAQ:INTC) last issued its quarterly earnings data 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 net margin of 29.42% and a negative return on equity of 1.71%. The company had revenue of $13.30 billion for the quarter, compared to analysts’ expectations of $13.02 billion. During the same period in the previous year, the firm posted $0.28 earnings per share. The firm’s revenue for the quarter was down 6.3% compared to the same quarter last year. On average, equities research analysts anticipate that Intel Co. will post -0.87 earnings per share for the current 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.