Intel Corporation $INTC Shares Sold by OLD Point Trust & Financial Services N A

Key Points

• OLD Point Trust & Financial Services N A has reduced its stake in Intel Corporation by 30.8%, selling 18,951 shares, resulting in ownership of 42,631 shares worth approximately $955,000.
• Wall Street analysts have mixed ratings on Intel, with two analysts giving a Buy rating, twenty-three a Hold rating, and seven a Sell rating, while the average price target is set at $29.26.
• Intel reported a quarterly loss of ($0.10) EPS, missing analysts' estimates, but achieved revenue of $12.86 billion, which exceeded expectations of $11.88 billion.

OLD Point Trust & Financial Services N A decreased its position in Intel Corporation (NASDAQ:INTC - Free Report) by 30.8% in the second quarter, according to its most recent 13F filing with the SEC. The firm 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 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Verdence Capital Advisors LLC boosted its stake in shares of Intel by 1.1% during the 1st quarter. Verdence Capital Advisors LLC now owns 45,682 shares of the chip maker's stock valued at $1,037,000 after buying an additional 486 shares during the period. Independent Wealth Network Inc. boosted its stake in shares of Intel by 5.2% during the 2nd quarter. Independent Wealth Network Inc. now owns 9,927 shares of the chip maker's stock valued at $222,000 after buying an additional 490 shares during the period. Cary Street Partners Investment Advisory LLC boosted its stake in shares of Intel by 23.1% during the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 2,614 shares of the chip maker's stock valued at $59,000 after buying an additional 491 shares during the period. one8zero8 LLC boosted its stake in shares of Intel by 4.2% during the 1st quarter. one8zero8 LLC now owns 12,320 shares of the chip maker's stock valued at $280,000 after buying an additional 500 shares during the period. Finally, Indiana Trust & Investment Management Co boosted its stake in shares of Intel by 8.4% during the 1st quarter. Indiana Trust & Investment Management Co now owns 6,457 shares of the chip maker's stock valued at $147,000 after buying an additional 500 shares during the period. Institutional investors and hedge funds own 64.53% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Wall Street Zen raised shares of Intel from a "sell" rating to a "hold" rating in a research note on Saturday, September 13th. Wells Fargo & Company lifted their target price on shares of Intel from $22.00 to $30.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 15th. Cantor Fitzgerald lifted their target price on shares of Intel from $36.00 to $40.00 and gave the stock a "neutral" rating in a report on Monday. KeyCorp reiterated a "sector weight" rating on shares of Intel in a report on Monday. Finally, Hsbc Global Res downgraded shares of Intel from a "hold" rating to a "moderate sell" rating in a report on Tuesday, October 7th. Two analysts have rated the stock with a Buy rating, twenty-three have issued a Hold rating and seven have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Reduce" and an average price target of $29.26.

Intel Price Performance

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

Intel (NASDAQ:INTC - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The chip maker reported ($0.10) EPS for the quarter, missing analysts' consensus estimates 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% on a year-over-year basis. During the same quarter last year, the firm earned $0.02 earnings per share. On average, equities analysts anticipate that Intel Corporation will post -0.11 EPS for the current fiscal year.

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.

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