Fortitude Family Office LLC Sells 6,036 Shares of Intel Co. (NASDAQ:INTC)

Fortitude Family Office LLC reduced its stake in Intel Co. (NASDAQ:INTC) by 47.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,725 shares of the chip maker’s stock after selling 6,036 shares during the quarter. Fortitude Family Office LLC’s holdings in Intel were worth $153,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vermillion Wealth Management Inc. bought a new stake in Intel during the 4th quarter valued at about $27,000. Synergy Investment Management LLC bought a new stake in shares of Intel during the fourth quarter valued at approximately $27,000. BankPlus Trust Department bought a new stake in shares of Intel during the fourth quarter valued at approximately $28,000. Conquis Financial LLC purchased a new position in Intel in the 4th quarter worth approximately $32,000. Finally, IMG Wealth Management Inc. bought a new stake in shares of Intel in the 4th quarter worth $34,000. Institutional investors own 64.53% of the company’s stock.

Intel Stock Performance

NASDAQ:INTC opened at $20.68 on Thursday. Intel Co. has a 1 year low of $17.67 and a 1 year high of $37.16. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.33 and a quick ratio of 0.98. The stock’s 50 day simple moving average is $20.37 and its two-hundred day simple moving average is $21.21. The company has a market cap of $90.21 billion, a price-to-earnings ratio of -4.72 and a beta of 1.12.

Intel (NASDAQ:INTC) last posted its quarterly earnings data on Thursday, April 24th. The chip maker reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $12.67 billion during the quarter, compared to analyst estimates of $12.26 billion. During the same period last year, the company earned $0.18 EPS. The company’s revenue for the quarter was down .4% on a year-over-year basis. As a group, equities analysts anticipate that Intel Co. will post -0.11 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Bank of America raised Intel from an “underperform” rating to a “neutral” rating and increased their price objective for the company from $19.00 to $25.00 in a research report on Thursday, March 13th. Needham & Company LLC restated a “hold” rating on shares of Intel in a research note on Friday, April 25th. Citigroup reiterated a “sell” rating on shares of Intel in a research note on Friday, April 25th. Sanford C. Bernstein lowered their price objective on shares of Intel from $25.00 to $21.00 and set a “market perform” rating on the stock in a research report on Tuesday, April 22nd. Finally, Morgan Stanley dropped their target price on Intel from $25.00 to $23.00 and set an “equal weight” rating on the stock in a research report on Friday, April 25th. Six equities research analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Intel currently has a consensus rating of “Hold” and a consensus 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.