Kentucky Retirement Systems Insurance Trust Fund Lowers Stock Holdings in Intel Co. (NASDAQ:INTC)

Kentucky Retirement Systems Insurance Trust Fund lowered its position in Intel Co. (NASDAQ:INTC) by 8.0% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 126,335 shares of the chip maker’s stock after selling 10,971 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Intel were worth $2,964,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. America First Investment Advisors LLC bought a new stake in shares of Intel in the 2nd quarter worth about $25,000. Cyrus J. Lawrence LLC purchased a new stake in shares of Intel in the second quarter worth approximately $27,000. Spartan Fund Management Inc. purchased a new stake in Intel in the second quarter worth $31,000. Financial Connections Group Inc. bought a new stake in Intel during the 2nd quarter valued at about $32,000. Finally, Triad Wealth Partners LLC purchased a new stake in Intel in the 2nd quarter valued at about $33,000. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Intel Stock Down 2.7 %

Shares of INTC opened at $24.35 on Friday. The stock has a 50 day moving average price of $22.69 and a 200 day moving average price of $26.36. 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 $105.02 billion, a price-to-earnings ratio of -6.55 and a beta of 1.03. Intel Co. has a one year low of $18.51 and a one year high of $51.28.

Intel (NASDAQ:INTC) last announced its quarterly earnings data 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 business had revenue of $13.30 billion for the quarter, compared to analysts’ expectations of $13.02 billion. Intel had a negative net margin of 29.42% and a negative return on equity of 1.71%. The firm’s revenue was down 6.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.28 EPS. Equities research analysts forecast that Intel Co. will post -0.83 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on INTC shares. Rosenblatt Securities reaffirmed a “sell” rating and set a $17.00 target price on shares of Intel in a research report on Tuesday, October 29th. New Street Research downgraded Intel from a “buy” rating to a “neutral” rating in a report on Friday, August 2nd. Truist Financial lifted their target price on Intel from $25.00 to $26.00 and gave the company a “hold” rating in a research report on Friday, November 1st. Benchmark reissued a “hold” rating on shares of Intel in a research report on Friday, November 1st. Finally, UBS Group decreased their price objective on Intel from $37.00 to $32.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Six equities research analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $30.12.

Insiders Place Their Bets

In other Intel 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 transaction of $650,000.00. Following the completion of the sale, the executive vice president now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.04% of the stock is owned by insiders.

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.