Plimoth Trust Co. LLC Sells 71,264 Shares of Intel Corporation (NASDAQ:INTC)

Plimoth Trust Co. LLC reduced its stake in shares of Intel Corporation (NASDAQ:INTC) by 72.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 26,476 shares of the chip maker’s stock after selling 71,264 shares during the quarter. Plimoth Trust Co. LLC’s holdings in Intel were worth $601,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Premier Path Wealth Partners LLC lifted its holdings in Intel by 40.6% during the first quarter. Premier Path Wealth Partners LLC now owns 18,870 shares of the chip maker’s stock worth $429,000 after acquiring an additional 5,448 shares in the last quarter. Johnson Investment Counsel Inc. raised its position in shares of Intel by 9.3% during the first quarter. Johnson Investment Counsel Inc. now owns 128,614 shares of the chip maker’s stock worth $2,921,000 after purchasing an additional 10,940 shares during the period. CWA Asset Management Group LLC raised its position in shares of Intel by 43.4% during the first quarter. CWA Asset Management Group LLC now owns 20,520 shares of the chip maker’s stock worth $466,000 after purchasing an additional 6,207 shares during the period. Marino Stram & Associates LLC bought a new position in shares of Intel during the 1st quarter valued at about $222,000. Finally, Kingswood Wealth Advisors LLC grew its position in shares of Intel by 147.1% in the 1st quarter. Kingswood Wealth Advisors LLC now owns 138,965 shares of the chip maker’s stock valued at $3,101,000 after purchasing an additional 82,724 shares during the period. 64.53% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

INTC has been the topic of several research analyst reports. Barclays restated a “reduce” rating on shares of Intel in a report on Tuesday, April 22nd. Susquehanna lowered their price objective on shares of Intel from $24.00 to $22.00 and set a “neutral” rating for the company in a research report on Wednesday, April 16th. Wells Fargo & Company cut their price objective on shares of Intel from $25.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Friday, April 25th. Cantor Fitzgerald reduced their target price on shares of Intel from $29.00 to $20.00 and set a “neutral” rating for the company in a research note on Monday, April 21st. Finally, Seaport Res Ptn raised Intel to a “strong sell” rating in a research note on Wednesday, April 30th. Six investment analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $21.57.

Intel Stock Performance

NASDAQ INTC opened at $21.49 on Thursday. The firm has a market capitalization of $93.74 billion, a P/E ratio of -4.80 and a beta of 1.12. The company has a current ratio of 1.31, a quick ratio of 0.93 and a debt-to-equity ratio of 0.42. The firm’s fifty day moving average price is $20.47 and its two-hundred day moving average price is $21.10. Intel Corporation has a 1 year low of $17.67 and a 1 year high of $37.16.

Intel (NASDAQ:INTC) last issued its earnings results on Thursday, April 24th. The chip maker reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.12. Intel had a negative net margin of 36.19% and a negative return on equity of 3.15%. 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 prior year, the firm earned $0.18 EPS. Intel’s quarterly revenue was down .4% compared to the same quarter last year. As a group, research analysts anticipate that Intel Corporation will post -0.11 EPS for the current year.

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.