Simplicity Wealth LLC Acquires New Stake in Intel Co. (NASDAQ:INTC)

Simplicity Wealth LLC acquired a new stake in shares of Intel Co. (NASDAQ:INTC) in the first quarter, HoldingsChannel reports. The institutional investor acquired 57,167 shares of the chip maker’s stock, valued at approximately $1,298,000.

A number of other institutional investors and hedge funds have also modified their holdings of INTC. Norges Bank bought a new stake in shares of Intel in the 4th quarter worth $1,246,569,000. Two Sigma Advisers LP bought a new stake in shares of Intel in the 4th quarter worth $289,752,000. Two Sigma Investments LP bought a new stake in shares of Intel in the 4th quarter worth $237,457,000. Toronto Dominion Bank increased its holdings in shares of Intel by 286.8% in the 4th quarter. Toronto Dominion Bank now owns 10,529,354 shares of the chip maker’s stock worth $211,114,000 after purchasing an additional 7,806,882 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Intel by 15.5% in the 4th quarter. Northern Trust Corp now owns 45,811,555 shares of the chip maker’s stock worth $918,522,000 after purchasing an additional 6,157,853 shares in the last quarter. Institutional investors own 64.53% of the company’s stock.

Intel Stock Up 7.8%

INTC stock opened at $22.08 on Wednesday. The business’s 50-day moving average price is $20.35 and its 200-day moving average price is $21.22. The company has a quick ratio of 0.98, a current ratio of 1.33 and a debt-to-equity ratio of 0.44. Intel Co. has a twelve month low of $17.67 and a twelve month high of $37.16. The stock has a market cap of $96.31 billion, a P/E ratio of -5.04 and a beta of 1.12.

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

Wall Street Analysts Forecast Growth

INTC has been the subject of several research analyst reports. Sanford C. Bernstein cut their price objective on Intel from $25.00 to $21.00 and set a “market perform” rating for the company in a report on Tuesday, April 22nd. Benchmark reaffirmed a “hold” rating on shares of Intel in a report on Friday, April 25th. Mizuho cut their price objective on Intel from $23.00 to $22.00 and set a “neutral” rating for the company in a report on Friday, April 25th. Susquehanna cut their price objective on Intel from $24.00 to $22.00 and set a “neutral” rating for the company in a report on Wednesday, April 16th. Finally, Barclays reaffirmed a “reduce” rating on shares of Intel in a report on Tuesday, April 22nd. Six 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’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $21.57.

About Intel

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.