Intel Corporation $INTC Shares Sold by AIGH Capital Management LLC

Key Points

• AIGH Capital Management cut its Intel stake by 19.8% in the third quarter, selling 123,500 shares and retaining 500,000 shares valued at about $60.1 million. Intel remained 6.1% of the fund’s portfolio and its third-largest holding.
• Intel’s latest quarterly results beat analyst expectations for earnings per share, reporting $0.52 versus $0.41, while revenue of $16.51 billion came in slightly below estimates. Revenue rose 20.9% year over year.
• CEO Lip-Bu Tan bought 150,000 Intel shares for about $9.7 million, increasing his holdings by 11.4%. Analysts’ consensus rating was “Hold,” with an average price target of $97.42.

AIGH Capital Management LLC lessened its stake in shares of Intel Corporation (NASDAQ:INTC - Free Report) by 19.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 500,000 shares of the chip maker's stock after selling 123,500 shares during the quarter. Intel comprises about 6.1% of AIGH Capital Management LLC's investment portfolio, making the stock its 3rd biggest position. AIGH Capital Management LLC's holdings in Intel were worth $60,115,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in the stock. Southern Financial Group LLC grew its stake in shares of Intel by 0.6% in the first quarter. Southern Financial Group LLC now owns 14,313 shares of the chip maker's stock valued at $632,000 after buying an additional 90 shares in the last quarter. Harrell Investment Partners LLC boosted its stake in shares of Intel by 0.4% in the second quarter. Harrell Investment Partners LLC now owns 23,277 shares of the chip maker's stock valued at $3,250,000 after purchasing an additional 100 shares during the period. TFR Capital LLC. boosted its stake in shares of Intel by 0.4% in the second quarter. TFR Capital LLC. now owns 26,643 shares of the chip maker's stock valued at $3,720,000 after purchasing an additional 100 shares during the period. Walker Asset Management LLC boosted its stake in shares of Intel by 1.9% in the third quarter. Walker Asset Management LLC now owns 5,433 shares of the chip maker's stock valued at $653,000 after purchasing an additional 100 shares during the period. Finally, Wynn Capital LLC grew its holdings in Intel by 0.4% during the 2nd quarter. Wynn Capital LLC now owns 27,162 shares of the chip maker's stock valued at $3,793,000 after purchasing an additional 104 shares in the last quarter. 64.53% of the stock is owned by institutional investors and hedge funds.

Intel Stock Down 10.3%

INTC opened at $52.25 on Friday. Intel Corporation has a 12 month low of $32.89 and a 12 month high of $142.35. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.31 and a quick ratio of 1.86. The stock has a market cap of $277.71 billion, a P/E ratio of 63.34, a P/E/G ratio of 6.23 and a beta of 2.42. The stock's 50 day moving average price is $98.66 and its 200 day moving average price is $86.56.

Intel (NASDAQ:INTC - Get Free Report) last announced its quarterly earnings results on Thursday, October 29th. The chip maker reported $0.52 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.41 by $0.11. Intel had a positive return on equity of 4.70% and a negative net margin of 20.09%. The company had revenue of $16.51 billion during the quarter, compared to analyst estimates of $16.56 billion. During the same quarter in the previous year, the firm posted $0.23 EPS. The firm's quarterly revenue was up 20.9% on a year-over-year basis. As a group, research analysts predict that Intel Corporation will post 1.04 earnings per share for the current year.

Intel News Roundup

Here are the key news stories impacting Intel this week:

• Positive Sentiment: CEO Lip-Bu Tan bought 150,000 shares for about $9.7 million, increasing his holdings by 11.4%. The purchase may signal confidence in Intel’s recovery, although the stock was below his purchase price afterward. Details on the CEO’s stock purchase
• Positive Sentiment: Intel is seeing brisk demand for server CPUs, with demand expected to exceed supply for the next couple of years. Its collaboration with Oracle could help sustain growth in its data-center business. Intel and Oracle collaboration
• Negative Sentiment: The main pressure was Intel’s fourth-quarter revenue forecast of $15 billion to $16 billion, which was below expectations. The outlook weighed on shares despite strong server demand, as investors assessed whether revenue growth can keep pace with expectations. Report on Intel’s fourth-quarter outlook
• Negative Sentiment: A wider semiconductor selloff added to the pressure. Investors worried that election outcomes and proposed policy changes could slow data-center construction, potentially putting a brake on AI-related infrastructure spending that supports chip demand. Analysis of political concerns and chip stocks

Insider Buying and Selling

In other news, CEO Lip Tan bought 150,000 shares of the company's stock in a transaction that occurred on Monday, November 2nd. The shares were purchased at an average price of $64.73 per share, with a total value of $9,709,500.00. Following the completion of the acquisition, the chief executive officer directly owned 1,464,669 shares in the company, valued at approximately $94,808,024.37. This trade represents a 11.41% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.05% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. dropped their price target on shares of Intel from $85.00 to $80.00 and set a "neutral" rating on the stock in a research note on Friday, October 30th. Evercore reissued an "outperform" rating and issued a $133.00 price objective on shares of Intel in a research report on Friday, October 30th. National Bank Financial set a $85.00 price objective on Intel in a research note on Monday, October 19th. KeyCorp dropped their target price on shares of Intel from $155.00 to $140.00 and set an "overweight" rating for the company in a research report on Friday, October 30th. Finally, Sanford C. Bernstein upgraded Intel from a "hold" rating to an "outperform" rating in a report on Monday, October 19th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, twenty-eight have issued a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $97.42.

About Intel

Intel Corporation NASDAQ: INTC is a global semiconductor company that designs and manufactures computing and connectivity products. Its portfolio includes Intel Core processors for personal computers, Xeon processors for data centers and enterprise systems, and products for networking, edge computing, graphics, and artificial intelligence workloads.

Through Intel Foundry, the company also provides semiconductor manufacturing and technology-development services for external customers. Intel develops process technologies, advanced packaging, and other manufacturing capabilities intended to support its own products and third-party chip designs.

Founded in 1968 by Robert Noyce and Gordon Moore, Intel helped establish the modern microprocessor industry and has historically supplied processors for PCs, servers, and other computing systems.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.