Parsons Capital Management Inc. RI Reduces Position in Intel Co. (NASDAQ:INTC)

Parsons Capital Management Inc. RI trimmed its position in Intel Co. (NASDAQ:INTC) by 14.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,417 shares of the chip maker’s stock after selling 3,212 shares during the period. Parsons Capital Management Inc. RI’s holdings in Intel were worth $441,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Intel in the fourth quarter worth about $1,246,569,000. Two Sigma Advisers LP purchased a new position in Intel during the 4th quarter worth approximately $289,752,000. Two Sigma Investments LP acquired a new stake in Intel during the 4th quarter valued at approximately $237,457,000. Toronto Dominion Bank boosted 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 valued at $211,114,000 after acquiring an additional 7,806,882 shares during the last quarter. Finally, Northern Trust Corp increased its stake in shares of Intel by 15.5% in the fourth quarter. Northern Trust Corp now owns 45,811,555 shares of the chip maker’s stock worth $918,522,000 after acquiring an additional 6,157,853 shares during the period. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Intel Stock Performance

NASDAQ:INTC opened at $20.68 on Thursday. The company’s 50-day moving average is $20.37 and its two-hundred day moving average is $21.21. 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 firm has a market capitalization of $90.21 billion, a price-to-earnings ratio of -4.72 and a beta of 1.12.

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

Analysts Set New Price Targets

Several equities research analysts have commented on INTC shares. Barclays reaffirmed a “reduce” rating on shares of Intel in a report on Tuesday, April 22nd. Deutsche Bank Aktiengesellschaft initiated coverage on Intel in a research note on Wednesday, May 21st. They issued a “hold” rating and a $23.00 target price on the stock. UBS Group reduced their price target on Intel from $22.00 to $21.00 and set a “neutral” rating for the company in a research report on Friday, April 25th. Rosenblatt Securities decreased their price target on Intel from $18.00 to $14.00 and set a “sell” rating for the company in a report on Friday, April 25th. Finally, Wedbush dropped their price objective on shares of Intel from $20.00 to $19.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 23rd. Six research analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $21.57.

Intel 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.