Procyon Advisors LLC Sells 2,528 Shares of Intel Co. (NASDAQ:INTC)

Procyon Advisors LLC lowered its stake in Intel Co. (NASDAQ:INTC) by 9.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 23,244 shares of the chip maker’s stock after selling 2,528 shares during the quarter. Procyon Advisors LLC’s holdings in Intel were worth $466,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Edgestream Partners L.P. grew its holdings in shares of Intel by 74.1% during the second quarter. Edgestream Partners L.P. now owns 12,043 shares of the chip maker’s stock worth $373,000 after buying an additional 5,124 shares in the last quarter. XTX Topco Ltd boosted its position in Intel by 173.6% during the 2nd quarter. XTX Topco Ltd now owns 17,959 shares of the chip maker’s stock worth $556,000 after acquiring an additional 11,394 shares during the last quarter. ProVise Management Group LLC grew its stake in shares of Intel by 30.6% during the 2nd quarter. ProVise Management Group LLC now owns 6,883 shares of the chip maker’s stock worth $213,000 after acquiring an additional 1,612 shares in the last quarter. Intech Investment Management LLC raised its holdings in shares of Intel by 10.7% in the second quarter. Intech Investment Management LLC now owns 146,133 shares of the chip maker’s stock valued at $4,526,000 after purchasing an additional 14,102 shares during the last quarter. Finally, Canada Pension Plan Investment Board lifted its position in shares of Intel by 201.1% in the second quarter. Canada Pension Plan Investment Board now owns 3,351,421 shares of the chip maker’s stock worth $103,794,000 after purchasing an additional 2,238,254 shares in the last quarter. Institutional investors and hedge funds own 64.53% of the company’s stock.

Intel Trading Up 9.3 %

Shares of INTC stock opened at $21.49 on Friday. The stock has a market cap of $92.69 billion, a P/E ratio of -5.78, a price-to-earnings-growth ratio of 8.53 and a beta of 1.07. Intel Co. has a 1 year low of $18.51 and a 1 year high of $50.30. The company has a current ratio of 1.31, a quick ratio of 0.97 and a debt-to-equity ratio of 0.44. The stock has a 50 day simple moving average of $21.55 and a 200 day simple moving average of $23.32.

Intel (NASDAQ:INTC) last released its earnings results on Thursday, October 31st. The chip maker reported ($0.46) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.44). The company 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 business’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same period last year, the company posted $0.28 earnings per share. On average, research analysts predict that Intel Co. will post -0.87 earnings per share for the current fiscal year.

Insider Buying and Selling at Intel

In other Intel news, EVP Michelle Johnston Holthaus sold 25,000 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $26.00, for a total transaction 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 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 is available at the SEC website. Insiders own 0.04% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Stifel Nicolaus reiterated a “hold” rating and issued a $25.00 price target (down from $28.00) on shares of Intel in a research note on Friday, October 25th. Barclays dropped their target price on Intel from $25.00 to $23.00 and set an “equal weight” rating on the stock in a report on Friday. Rosenblatt Securities restated a “sell” rating and issued a $17.00 price target on shares of Intel in a research note on Tuesday, October 29th. The Goldman Sachs Group dropped their price objective on Intel from $22.00 to $21.00 and set a “sell” rating on the stock in a research note on Thursday, October 17th. Finally, Bank of America restated an “underperform” rating and set a $21.00 target price on shares of Intel in a report on Tuesday, December 3rd. 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 stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $29.88.

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.