OLD Point Trust & Financial Services N A Sells 18,951 Shares of Intel Corporation $INTC

OLD Point Trust & Financial Services N A lessened its position in Intel Corporation (NASDAQ:INTC) by 30.8% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 42,631 shares of the chip maker’s stock after selling 18,951 shares during the period. OLD Point Trust & Financial Services N A’s holdings in Intel were worth $955,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of INTC. HFM Investment Advisors LLC bought a new stake in shares of Intel during the first quarter worth $25,000. N.E.W. Advisory Services LLC bought a new stake in shares of Intel during the first quarter worth $25,000. MJT & Associates Financial Advisory Group Inc. bought a new stake in shares of Intel during the first quarter worth $27,000. West Branch Capital LLC bought a new stake in shares of Intel during the second quarter worth $28,000. Finally, LFA Lugano Financial Advisors SA bought a new stake in shares of Intel during the first quarter worth $30,000. Institutional investors own 64.53% of the company’s stock.

Wall Street Analysts Forecast Growth

INTC has been the subject of a number of analyst reports. Wells Fargo & Company raised their target price on shares of Intel from $22.00 to $30.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 15th. Morgan Stanley increased their price target on shares of Intel from $23.00 to $36.00 and gave the company an “equal weight” rating in a research note on Monday. Rosenblatt Securities reiterated a “sell” rating and issued a $14.00 price target on shares of Intel in a research note on Friday, July 25th. Stifel Nicolaus increased their price target on shares of Intel from $21.00 to $24.50 and gave the company a “hold” rating in a research note on Monday, July 21st. Finally, Bank of America reiterated an “underperform” rating and issued a $34.00 price target on shares of Intel in a research note on Monday, October 13th. Two analysts have rated the stock with a Buy rating, twenty-three have given a Hold rating and seven have given a Sell rating to the stock. Based on data from MarketBeat, Intel has an average rating of “Reduce” and an average price target of $29.26.

Intel Price Performance

Shares of NASDAQ:INTC opened at $36.92 on Thursday. The firm has a 50 day moving average of $29.81 and a 200-day moving average of $24.06. The stock has a market capitalization of $161.60 billion, a PE ratio of -7.74 and a beta of 1.33. The company has a current ratio of 1.24, a quick ratio of 0.92 and a debt-to-equity ratio of 0.42. Intel Corporation has a 12 month low of $17.67 and a 12 month high of $39.65.

Intel (NASDAQ:INTC) last issued its earnings results on Thursday, July 24th. The chip maker reported ($0.10) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.11). The firm had revenue of $12.86 billion during the quarter, compared to analyst estimates of $11.88 billion. Intel had a negative net margin of 38.64% and a negative return on equity of 3.78%. Intel’s quarterly revenue was up .5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.02 earnings per share. On average, equities research analysts predict that Intel Corporation will post -0.11 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.