Cadence Bank Lowers Holdings in Intel Co. (NASDAQ:INTC)

Cadence Bank decreased its position in Intel Co. (NASDAQ:INTC) by 17.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 24,264 shares of the chip maker’s stock after selling 5,037 shares during the period. Cadence Bank’s holdings in Intel were worth $569,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Key Financial Inc boosted its holdings in shares of Intel by 4.1% in the second quarter. Key Financial Inc now owns 8,685 shares of the chip maker’s stock valued at $269,000 after purchasing an additional 340 shares during the period. W.G. Shaheen & Associates DBA Whitney & Co raised its stake in Intel by 1.4% in 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 buying an additional 348 shares in the last quarter. Cypress Asset Management Inc. TX raised its stake 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 buying an additional 350 shares in the last quarter. Cidel Asset Management Inc. raised its stake in Intel by 0.6% in the second quarter. Cidel Asset Management Inc. now owns 64,589 shares of the chip maker’s stock worth $2,000,000 after buying an additional 381 shares in the last quarter. Finally, Alhambra Investment Management LLC raised its stake in Intel by 5.9% in the second quarter. Alhambra Investment Management LLC now owns 7,000 shares of the chip maker’s stock worth $217,000 after buying an additional 389 shares in the last quarter. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Analyst Ratings Changes

INTC has been the subject of a number of recent research reports. Hsbc Global Res downgraded shares of Intel from a “hold” rating to a “moderate sell” rating in a research note on Friday, August 2nd. Bank of America downgraded shares of Intel from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $35.00 to $23.00 in a research note on Friday, August 2nd. Stifel Nicolaus reissued a “hold” rating and issued a $25.00 price objective (down previously from $28.00) on shares of Intel in a research note on Friday, October 25th. Morgan Stanley reduced their price objective on shares of Intel from $36.00 to $25.00 and set an “equal weight” rating for the company in a research note on Friday, August 2nd. Finally, Susquehanna reduced their price target on Intel from $35.00 to $26.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Six investment analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $30.12.

Intel Trading Down 1.7 %

INTC opened at $23.65 on Thursday. 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 company’s 50 day simple moving average is $23.38 and its two-hundred day simple moving average is $25.99. Intel Co. has a 1-year low of $18.51 and a 1-year high of $51.28. The firm has a market capitalization of $102.00 billion, a price-to-earnings ratio of -6.36 and a beta of 1.03.

Intel (NASDAQ:INTC) last released its earnings results 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 return on equity of 1.71% and a negative net margin of 29.42%. The business had revenue of $13.30 billion during the quarter, compared to analysts’ expectations of $13.02 billion. During the same period last year, the business earned $0.28 earnings per share. The company’s revenue for the quarter was down 6.3% compared to the same quarter last year. Analysts expect that Intel Co. will post -0.87 EPS for the current fiscal year.

Insider Activity

In other 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 sale, the executive vice president now owns 273,258 shares of the company’s stock, valued at approximately $7,104,708. The trade was a 8.38 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.04% of the company’s stock.

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.