Garner Asset Management Corp Lowers Stock Position in Intel Co. (NASDAQ:INTC)

Garner Asset Management Corp trimmed its holdings in shares of Intel Co. (NASDAQ:INTC) by 24.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,472 shares of the chip maker’s stock after selling 3,962 shares during the quarter. Garner Asset Management Corp’s holdings in Intel were worth $293,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Key Financial Inc lifted its holdings in Intel by 4.1% during the 2nd quarter. Key Financial Inc now owns 8,685 shares of the chip maker’s stock worth $269,000 after buying an additional 340 shares during the last quarter. W.G. Shaheen & Associates DBA Whitney & Co lifted its stake in Intel by 1.4% during the second quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 24,779 shares of the chip maker’s stock worth $767,000 after purchasing an additional 348 shares during the last quarter. Cypress Asset Management Inc. TX boosted its holdings in Intel by 1.6% in the first quarter. Cypress Asset Management Inc. TX now owns 22,835 shares of the chip maker’s stock worth $1,015,000 after purchasing an additional 350 shares during the period. Cidel Asset Management Inc. increased its stake in Intel by 0.6% during the second quarter. Cidel Asset Management Inc. now owns 64,589 shares of the chip maker’s stock valued at $2,000,000 after purchasing an additional 381 shares during the last quarter. Finally, Alhambra Investment Management LLC raised its holdings in shares of Intel by 5.9% during the second quarter. Alhambra Investment Management LLC now owns 7,000 shares of the chip maker’s stock worth $217,000 after purchasing an additional 389 shares during the period. Institutional investors own 64.53% of the company’s stock.

Intel Trading Up 0.2 %

NASDAQ:INTC opened at $24.50 on Friday. The stock’s 50-day moving average is $23.19 and its two-hundred day moving average is $26.11. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.31 and a quick ratio of 0.97. The stock has a market cap of $105.67 billion, a PE ratio of -6.59 and a beta of 1.03. Intel Co. has a fifty-two week low of $18.51 and a fifty-two week high of $51.28.

Intel (NASDAQ:INTC) last released 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 firm had revenue of $13.30 billion for the quarter, compared to analyst estimates of $13.02 billion. During the same period in the previous year, the business posted $0.28 EPS. Intel’s revenue for the quarter was down 6.3% on a year-over-year basis. As a group, equities research analysts forecast that Intel Co. will post -0.83 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of the business’s stock in a transaction that occurred 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. The trade was a 8.38 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.04% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on INTC shares. JPMorgan Chase & Co. reduced their price objective on Intel from $35.00 to $26.00 and set an “underweight” rating for the company in a research report on Friday, August 2nd. Daiwa America raised shares of Intel to a “hold” rating in a report on Monday, August 26th. Wedbush lowered their price target on shares of Intel from $32.50 to $25.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Roth Mkm cut their price objective on shares of Intel from $35.00 to $25.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Finally, Rosenblatt Securities restated a “sell” rating and issued a $17.00 target price on shares of Intel in a research report on Tuesday, October 29th. Six equities research 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, the stock currently has an average rating of “Hold” and an average price target of $30.12.

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.