Rep. Mike Kelly Sells Intel Co. (NASDAQ:INTC) Shares

Representative Mike Kelly (R-Pennsylvania) recently sold shares of Intel Co. (NASDAQ:INTC). In a filing disclosed on December 12th, the Representative disclosed that they had sold between $1,001 and $15,000 in Intel stock on November 8th. The trade occurred in the Representative’s “VICTORIA KELLY TRUST ICA” account.

Representative Mike Kelly also recently made the following trade(s):

• Sold $15,001 – $50,000 in shares of Union Pacific (NYSE:UNP) on 11/8/2024.

Intel Price Performance

INTC opened at $20.78 on Friday. The stock has a market capitalization of $89.62 billion, a PE ratio of -5.59 and a beta of 1.05. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.97 and a current ratio of 1.31. The company’s 50 day simple moving average is $23.19 and its 200 day simple moving average is $25.33. Intel Co. has a 1 year low of $18.51 and a 1 year high of $51.28.

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

Insider Activity at Intel

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $26.00, for a total value of $650,000.00. Following the completion of 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.04% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Northland Securities reduced their price objective 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. The Goldman Sachs Group dropped their price objective on shares of Intel from $22.00 to $21.00 and set a “sell” rating for the company in a report on Thursday, October 17th. Daiwa America raised Intel to a “hold” rating in a report on Monday, August 26th. Rosenblatt Securities reissued a “sell” rating and issued a $17.00 price target on shares of Intel in a research note on Tuesday, October 29th. Finally, TD Cowen raised Intel to a “hold” rating in a research note on Monday, September 16th. 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. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $30.04.

Institutional Investors Weigh In On Intel

Institutional investors have recently made changes to their positions in the business. America First Investment Advisors LLC purchased a new stake in shares of Intel during the second quarter valued at approximately $25,000. Cyrus J. Lawrence LLC purchased a new stake in Intel during the 2nd quarter valued at $27,000. Quest Partners LLC increased its position in shares of Intel by 7,370.6% in the third quarter. Quest Partners LLC now owns 1,270 shares of the chip maker’s stock valued at $30,000 after acquiring an additional 1,253 shares during the period. Spartan Fund Management Inc. bought a new position in shares of Intel during the second quarter valued at about $31,000. Finally, Financial Connections Group Inc. purchased a new stake in shares of Intel during the second quarter worth about $32,000. Hedge funds and other institutional investors own 64.53% of the company’s stock.

About Representative Kelly

Mike Kelly (Republican Party) is a member of the U.S. House, representing Pennsylvania’s 16th Congressional District. He assumed office on January 3, 2019. His current term ends on January 3, 2025. Kelly (Republican Party) is running for re-election to the U.S. House to represent Pennsylvania’s 16th Congressional District. He declared candidacy for the 2024 election. Prior to joining Congress, Kelly served on the Butler County council and the Butler area school board. At the start of the 116th Congress, Kelly was named the ranking member of the Subcommittee on Oversight of the House Committee on Ways and Means. He was described by the Pittsburgh Post-Gazette in January 2019 as “a fiscal conservative and Donald Trump loyalist.”

Intel Company Profile

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.