Chemistry Wealth Management LLC Acquires New Position in Intel Co. (NASDAQ:INTC)

Chemistry Wealth Management LLC acquired a new stake in Intel Co. (NASDAQ:INTC) in the first quarter, HoldingsChannel.com reports. The fund acquired 10,604 shares of the chip maker’s stock, valued at approximately $241,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in Intel by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 369,099,204 shares of the chip maker’s stock valued at $7,400,439,000 after purchasing an additional 6,143,164 shares during the period. Geode Capital Management LLC lifted its position in Intel by 3.2% in the fourth quarter. Geode Capital Management LLC now owns 95,488,444 shares of the chip maker’s stock valued at $1,909,761,000 after purchasing an additional 2,978,346 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Intel by 8.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 63,263,339 shares of the chip maker’s stock valued at $1,268,430,000 after purchasing an additional 4,793,927 shares during the period. Norges Bank acquired a new stake in Intel in the fourth quarter valued at about $1,246,569,000. Finally, Northern Trust Corp lifted its position in Intel by 15.5% in the fourth quarter. Northern Trust Corp now owns 45,811,555 shares of the chip maker’s stock valued at $918,522,000 after purchasing an additional 6,157,853 shares during the period. Institutional investors and hedge funds own 64.53% of the company’s stock.

Analyst Upgrades and Downgrades

INTC has been the subject of a number of recent analyst reports. Barclays restated a “reduce” rating on shares of Intel in a research report on Tuesday, April 22nd. Cantor Fitzgerald dropped their target price on shares of Intel from $29.00 to $20.00 and set a “neutral” rating for the company in a report on Monday, April 21st. Morgan Stanley dropped their target price on shares of Intel from $25.00 to $23.00 and set an “equal weight” rating for the company in a report on Friday, April 25th. Bank of America raised shares of Intel from an “underperform” rating to a “neutral” rating and increased their target price for the company from $19.00 to $25.00 in a report on Thursday, March 13th. Finally, Sanford C. Bernstein dropped their target price on shares of Intel from $25.00 to $21.00 and set a “market perform” rating for the company in a report on Tuesday, April 22nd. Six equities research analysts have rated the stock with a sell rating, twenty-five have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $21.57.

Intel Stock Up 0.4%

INTC stock opened at $20.06 on Friday. The stock has a market capitalization of $87.50 billion, a P/E ratio of -4.58 and a beta of 1.15. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.98 and a current ratio of 1.33. Intel Co. has a one year low of $17.67 and a one year high of $37.16. The company has a 50 day moving average price of $20.39 and a two-hundred day moving average price of $21.28.

Intel (NASDAQ:INTC) last released its earnings results on Thursday, April 24th. The chip maker reported $0.13 EPS for the quarter, topping the consensus estimate of $0.01 by $0.12. The firm had revenue of $12.67 billion during the quarter, compared to analysts’ expectations of $12.26 billion. Intel had a negative net margin of 35.32% and a negative return on equity of 3.27%. Intel’s revenue for the quarter was down .4% on a year-over-year basis. During the same period in the previous year, the company earned $0.18 EPS. As a group, sell-side analysts expect that Intel Co. will post -0.11 EPS for the current year.

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.