Balboa Wealth Partners Boosts Position in Intel Co. (NASDAQ:INTC)

by · The Markets Daily

Balboa Wealth Partners increased its position in Intel Co. (NASDAQ:INTC – Free Report) by 16.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 24,883 shares of the chip maker’s stock after purchasing an additional 3,435 shares during the quarter. Balboa Wealth Partners’ holdings in Intel were worth $584,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in INTC. America First Investment Advisors LLC purchased a new position in Intel during the 2nd quarter valued at about $25,000. Cyrus J. Lawrence LLC bought a new position in Intel in the second quarter worth approximately $27,000. Spartan Fund Management Inc. bought a new stake in Intel during the 2nd quarter valued at $31,000. Financial Connections Group Inc. purchased a new position in shares of Intel in the 2nd quarter valued at $32,000. Finally, Triad Wealth Partners LLC bought a new position in shares of Intel in the 2nd quarter worth $33,000. Institutional investors own 64.53% of the company’s stock.

Intel Price Performance

Shares of INTC opened at $25.03 on Friday. The firm has a 50-day simple moving average of $22.47 and a two-hundred day simple moving average of $26.42. 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 Co. has a 1-year low of $18.51 and a 1-year high of $51.28.

Intel (NASDAQ:INTC – Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The chip maker reported ($0.46) EPS 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 firm had revenue of $13.30 billion for the quarter, compared to analyst estimates of $13.02 billion. During the same quarter last year, the company earned $0.28 earnings per share. The firm’s revenue for the quarter was down 6.3% on a year-over-year basis. On average, analysts anticipate that Intel Co. will post -0.83 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on INTC. The Goldman Sachs Group cut their target price on Intel from $22.00 to $21.00 and set a “sell” rating on the stock in a research note on Thursday, October 17th. Benchmark reiterated a “hold” rating on shares of Intel in a report on Friday, November 1st. Susquehanna dropped their price target on Intel from $35.00 to $26.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. TD Cowen upgraded shares of Intel to a “hold” rating in a research note on Monday, September 16th. Finally, StockNews.com lowered shares of Intel from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. Six research analysts have rated the stock with a sell rating, twenty-five have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $30.12.

View Our Latest Stock Report on INTC

Insider Buying and Selling at Intel

In other Intel news, EVP Michelle Johnston Holthaus sold 25,000 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $26.00, for a total value of $650,000.00. Following the sale, the executive vice president now directly owns 273,258 shares of the company’s stock, valued at approximately $7,104,708. This represents a 8.38 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.04% of the stock is currently owned by corporate insiders.

Intel Company Profile

(Free Report)

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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