Pingora Partners LLC Buys 7,005 Shares of Intel Co. (NASDAQ:INTC)

Pingora Partners LLC grew its stake in shares of Intel Co. (NASDAQ:INTC) by 65.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,735 shares of the chip maker’s stock after buying an additional 7,005 shares during the period. Pingora Partners LLC’s holdings in Intel were worth $416,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of INTC. William B. Walkup & Associates Inc. acquired a new position in Intel during the second quarter valued at approximately $2,178,000. Swiss National Bank grew its holdings in shares of Intel by 0.3% in the 3rd quarter. Swiss National Bank now owns 12,635,400 shares of the chip maker’s stock valued at $296,426,000 after buying an additional 31,800 shares during the period. Fortis Group Advisors LLC grew its holdings in shares of Intel by 1,052.9% in the 3rd quarter. Fortis Group Advisors LLC now owns 172,996 shares of the chip maker’s stock valued at $4,058,000 after buying an additional 157,991 shares during the period. Mizuho Securities Co. Ltd. increased its position in shares of Intel by 2,910.4% in the 3rd quarter. Mizuho Securities Co. Ltd. now owns 28,900 shares of the chip maker’s stock valued at $678,000 after buying an additional 27,940 shares in the last quarter. Finally, CreativeOne Wealth LLC raised its stake in Intel by 104.9% during the 3rd quarter. CreativeOne Wealth LLC now owns 60,831 shares of the chip maker’s stock worth $1,427,000 after buying an additional 31,143 shares during the period. 64.53% of the stock is currently owned by institutional investors and hedge funds.

Intel Stock Down 6.1 %

INTC opened at $22.47 on Wednesday. The stock’s fifty day simple moving average is $23.50 and its 200 day simple moving average is $25.73. Intel Co. has a 1-year low of $18.51 and a 1-year high of $51.28. The stock has a market cap of $96.91 billion, a PE ratio of -6.04 and a beta of 1.05. The company has a current ratio of 1.31, a quick ratio of 0.97 and a debt-to-equity ratio of 0.44.

Intel (NASDAQ:INTC) last issued its quarterly earnings data on Thursday, October 31st. The chip maker reported ($0.46) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.44). The company had revenue of $13.30 billion during the quarter, compared to the consensus estimate of $13.02 billion. Intel had a negative net margin of 29.42% and a negative return on equity of 1.71%. Intel’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.28 earnings per share. As a group, research analysts expect that Intel Co. will post -0.87 earnings per share for the current year.

Insiders Place Their Bets

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 value of $650,000.00. Following the transaction, the executive vice president now directly owns 273,258 shares of the company’s stock, valued at $7,104,708. This represents a 8.38 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.04% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Truist Financial increased their price target on Intel from $25.00 to $26.00 and gave the stock a “hold” rating in a report on Friday, November 1st. The Goldman Sachs Group dropped their target price on shares of Intel from $22.00 to $21.00 and set a “sell” rating on the stock in a report on Thursday, October 17th. Stifel Nicolaus reiterated a “hold” rating and issued a $25.00 price target (down previously from $28.00) on shares of Intel in a report on Friday, October 25th. Rosenblatt Securities restated a “sell” rating and set a $17.00 price objective on shares of Intel in a report on Tuesday, October 29th. Finally, Northland Securities reduced their target price on shares of Intel from $42.00 to $28.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. 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 company’s stock. According to data from MarketBeat.com, Intel has an average rating of “Hold” and an average target price of $30.04.

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.