Why Intel Stock Sank Again Today
Sell-offs for (NASDAQ: INTC) stock continued Wednesday. The semiconductor company's share price ended the day's trading down 2.7%, according to data from S&P Global Market Intelligence.
After the market closed yesterday, Intel published its latest 13F filing -- a form submitted to the Securities and Exchange Commission (SEC) showing the stock ownership positions of institutional investors and asset managers. The document revealed that Intel had sold its stake in British chip designer Arm Holdings, and investors don't appear to be happy with the move.
According to Intel's 13F filing, the company sold all 1.18 million shares of Arm stock that it owned in the second quarter. Based on calculations for the company's average stock price in the period, Reuters estimated that the sale would have generated somewhere in the neighborhood of $146.7 million in cash.
Source Fool.com
Intel Corp. Stock
Currently there is a rather positive sentiment for Intel Corp. with 47 Buy predictions and 24 Sell predictions.
However, we have a potential of -5.36% for Intel Corp. as the target price of 74 € is below the current price of 78.19 €.
