CNB Bank Sells 1,254 Shares of Intel Co. (NASDAQ:INTC)

CNB Bank reduced its position in Intel Co. (NASDAQ:INTC) by 21.5% during the fourth quarter, HoldingsChannel reports. The fund owned 4,587 shares of the chip maker’s stock after selling 1,254 shares during the quarter. CNB Bank’s holdings in Intel were worth $92,000 as of its most recent filing with the SEC.

Several other institutional investors have also added to or reduced their stakes in the business. Dunhill Financial LLC lifted its stake in shares of Intel by 22.6% in the 3rd quarter. Dunhill Financial LLC now owns 2,380 shares of the chip maker’s stock worth $56,000 after purchasing an additional 438 shares during the period. MKT Advisors LLC increased its holdings in Intel by 4.8% during the third quarter. MKT Advisors LLC now owns 10,762 shares of the chip maker’s stock valued at $241,000 after buying an additional 490 shares during the last quarter. Beaton Management Co. Inc. raised its position in Intel by 2.2% in the third quarter. Beaton Management Co. Inc. now owns 23,208 shares of the chip maker’s stock worth $544,000 after acquiring an additional 500 shares during the period. Everpar Advisors LLC raised its position in Intel by 5.1% in the third quarter. Everpar Advisors LLC now owns 10,326 shares of the chip maker’s stock worth $242,000 after acquiring an additional 504 shares during the period. Finally, Lavaca Capital LLC boosted its stake in shares of Intel by 4.7% during the 2nd quarter. Lavaca Capital LLC now owns 11,796 shares of the chip maker’s stock worth $365,000 after acquiring an additional 530 shares during the last quarter. 64.53% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of the firm’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. This trade represents a 8.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.04% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on INTC. Needham & Company LLC restated a “hold” rating on shares of Intel in a research note on Friday, November 1st. Barclays reduced their price target on Intel from $25.00 to $23.00 and set an “equal weight” rating for the company in a research report on Friday. Bank of America reiterated an “underperform” rating and set a $21.00 price objective on shares of Intel in a research note on Tuesday, December 3rd. Truist Financial raised 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. Finally, Northland Securities dropped their price target on shares of Intel from $42.00 to $28.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. 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 stock. Based on data from MarketBeat, Intel currently has an average rating of “Hold” and a consensus price target of $29.88.

Intel Stock Up 8.2 %

NASDAQ INTC opened at $21.28 on Friday. The stock has a 50 day moving average price of $21.78 and a 200-day moving average price of $23.47. Intel Co. has a one year low of $18.51 and a one year high of $50.30. 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 company has a market capitalization of $91.77 billion, a P/E ratio of -5.71, a P/E/G ratio of 8.53 and a beta of 1.07.

Intel (NASDAQ:INTC) last released its quarterly earnings data 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 business had revenue of $13.30 billion for the quarter, compared to the consensus estimate of $13.02 billion. During the same quarter last year, the business earned $0.28 EPS. Intel’s revenue for the quarter was down 6.3% compared to the same quarter last year. As a group, equities analysts predict that Intel Co. will post -0.87 EPS for the current fiscal 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.