Rep. Kevin Hern Sells Off Shares of Intel Co. (NASDAQ:INTC)

Representative Kevin Hern (R-Oklahoma) recently sold shares of Intel Co. (NASDAQ:INTC). In a filing disclosed on January 15th, the Representative disclosed that they had sold between $50,001 and $100,000 in Intel stock on December 31st. The trade occurred in the Representative’s “HERN FAMILY REVOCABLE TRUST > BROKERAGE INVESTMENT ACCOUNT” account.

Representative Kevin Hern also recently made the following trade(s):

• Sold $250,001 – $500,000 in shares of Devon Energy (NYSE:DVN) on 12/31/2024.
• Sold $15,001 – $50,000 in shares of Estée Lauder Companies (NYSE:EL) on 12/31/2024.
• Sold $100,001 – $250,000 in shares of Johnson & Johnson (NYSE:JNJ) on 12/31/2024.
• Sold $50,001 – $100,000 in shares of DexCom (NASDAQ:DXCM) on 12/31/2024.
• Sold $50,001 – $100,000 in shares of AGCO (NYSE:AGCO) on 12/31/2024.
• Purchased $1,001 – $15,000 in shares of Home Depot (NYSE:HD) on 12/12/2024.
• Purchased $1,001 – $15,000 in shares of Exxon Mobil (NYSE:XOM) on 12/10/2024.
• Purchased $100,001 – $250,000 in shares of McDonald’s (NYSE:MCD) on 10/29/2024.

Intel Stock Performance

INTC opened at $19.69 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 stock has a market capitalization of $84.90 billion, a price-to-earnings ratio of -5.29, a PEG ratio of 8.53 and a beta of 1.07. The company has a fifty day moving average of $21.78 and a 200 day moving average of $23.47. Intel Co. has a fifty-two week low of $18.51 and a fifty-two week high of $50.30.

Intel (NASDAQ:INTC) last issued its quarterly earnings data on Thursday, October 31st. The chip maker reported ($0.46) earnings per share 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 firm had revenue of $13.30 billion for the quarter, compared to analysts’ expectations of $13.02 billion. During the same quarter in the previous year, the business earned $0.28 EPS. The company’s revenue for the quarter was down 6.3% on a year-over-year basis. As a group, sell-side analysts forecast that Intel Co. will post -0.87 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of Intel stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $26.00, for a total transaction of $650,000.00. Following the transaction, the executive vice president now directly owns 273,258 shares of the company’s stock, 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 SEC, which is available through this link. 0.04% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Truist Financial lifted their price objective on Intel from $25.00 to $26.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. Northland Securities reduced their price target on shares of Intel from $42.00 to $28.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Robert W. Baird increased their price objective 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. Barclays dropped their price objective on shares of Intel from $25.00 to $23.00 and set an “equal weight” rating for the company in a research note on Friday. Finally, Needham & Company LLC restated a “hold” rating on shares of Intel 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 given a buy rating to the stock. According to data from MarketBeat.com, Intel has a consensus rating of “Hold” and a consensus target price of $29.88.

Hedge Funds Weigh In On Intel

A number of institutional investors have recently modified their holdings of INTC. State Street Corp grew its stake in Intel by 2.8% in the third quarter. State Street Corp now owns 197,958,739 shares of the chip maker’s stock worth $4,644,112,000 after purchasing an additional 5,417,753 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Intel by 4.6% in the 3rd quarter. Geode Capital Management LLC now owns 92,510,098 shares of the chip maker’s stock worth $2,162,891,000 after buying an additional 4,103,553 shares during the period. Primecap Management Co. CA grew its position in shares of Intel by 2.2% during the 2nd quarter. Primecap Management Co. CA now owns 77,822,587 shares of the chip maker’s stock worth $2,410,166,000 after buying an additional 1,697,550 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Intel by 28.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 58,469,412 shares of the chip maker’s stock valued at $1,371,692,000 after buying an additional 12,865,308 shares during the period. Finally, Van ECK Associates Corp raised its holdings in shares of Intel by 27.2% in the third quarter. Van ECK Associates Corp now owns 44,013,936 shares of the chip maker’s stock valued at $967,426,000 after acquiring an additional 9,422,136 shares in the last quarter. 64.53% of the stock is owned by hedge funds and other institutional investors.

About Representative Hern

Kevin Hern (Republican Party) is a member of the U.S. House, representing Oklahoma’s 1st Congressional District. He assumed office on November 13, 2018. His current term ends on January 3, 2025. Hern (Republican Party) is running for re-election to the U.S. House to represent Oklahoma’s 1st Congressional District. He declared candidacy for the 2024 election. Before running for Congress, Hern was a McDonald’s franchisee and served on the McDonald’s National Leadership Team. Hern went into business as a McDonald’s franchisee in 1999. He acquired 10 McDonald’s franchises by 2012. He served on the McDonald’s National Leadership Team for 13 years, including the tax policy team, the insurance corporation, and as chairman of the economics team. From 2011 to 2015, he was chairman of the finance committee of the Oklahoma Turnpike Authority.

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.