Kanawha Capital Management LLC Trims Stock Position in Intel Co. (NASDAQ:INTC)

by · The Markets Daily

Kanawha Capital Management LLC reduced its stake in shares of Intel Co. (NASDAQ:INTC – Free Report) by 35.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 123,165 shares of the chip maker’s stock after selling 66,427 shares during the period. Kanawha Capital Management LLC’s holdings in Intel were worth $2,889,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Forum Financial Management LP increased its position in Intel by 11.3% during the third quarter. Forum Financial Management LP now owns 73,610 shares of the chip maker’s stock worth $1,727,000 after buying an additional 7,501 shares in the last quarter. RWQ Financial Management Services Inc. purchased a new stake in Intel during the 3rd quarter worth about $3,538,000. BSW Wealth Partners raised its stake in Intel by 50.0% in the 3rd quarter. BSW Wealth Partners now owns 42,241 shares of the chip maker’s stock valued at $991,000 after purchasing an additional 14,079 shares during the last quarter. Angeles Wealth Management LLC raised its stake in Intel by 35.6% in the 3rd quarter. Angeles Wealth Management LLC now owns 11,844 shares of the chip maker’s stock valued at $278,000 after purchasing an additional 3,111 shares during the last quarter. Finally, Van ECK Associates Corp lifted its holdings in Intel by 27.2% in the 3rd quarter. Van ECK Associates Corp now owns 44,013,936 shares of the chip maker’s stock valued at $967,426,000 after purchasing an additional 9,422,136 shares in the last quarter. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on INTC. Morgan Stanley cut 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 report on Friday, August 2nd. Cantor Fitzgerald cut their price target on Intel from $40.00 to $27.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Robert W. Baird raised their price objective on Intel from $20.00 to $25.00 and gave the stock a “neutral” rating in a report on Friday. Argus downgraded Intel from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Finally, Hsbc Global Res downgraded Intel from a “hold” rating to a “moderate sell” rating in a research report on Friday, August 2nd. Six analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Intel has an average rating of “Hold” and an average target price of $30.12.

View Our Latest Analysis on Intel

Intel Price Performance

INTC opened at $23.20 on Monday. Intel Co. has a twelve month low of $18.51 and a twelve month high of $51.28. The firm has a market cap of $99.20 billion, a price-to-earnings ratio of -6.24 and a beta of 1.03. The company has a current ratio of 1.59, a quick ratio of 1.24 and a debt-to-equity ratio of 0.40. The company has a fifty day simple moving average of $21.79 and a 200 day simple moving average of $26.90.

Intel (NASDAQ:INTC – Get Free Report) last announced its earnings results on Thursday, August 1st. The chip maker reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.08). The business had revenue of $12.80 billion for the quarter, compared to analysts’ expectations of $12.92 billion. Intel had a negative return on equity of 1.68% and a negative net margin of 29.42%. The firm’s revenue was down .8% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.05) earnings per share. Equities research analysts expect that Intel Co. will post -0.47 EPS for the current fiscal year.

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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