International Assets Investment Management LLC Cuts Position in Intel Corporation (NASDAQ:INTC)

International Assets Investment Management LLC trimmed its holdings in shares of Intel Corporation (NASDAQ:INTC) by 9.8% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 76,522 shares of the chip maker’s stock after selling 8,292 shares during the period. International Assets Investment Management LLC’s holdings in Intel were worth $1,738,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Synergy Investment Management LLC bought a new position in shares of Intel during the fourth quarter valued at $27,000. Vermillion Wealth Management Inc. bought a new stake in Intel during the 4th quarter valued at about $27,000. BankPlus Trust Department purchased a new position in Intel in the fourth quarter worth about $28,000. Conquis Financial LLC bought a new position in shares of Intel in the fourth quarter worth approximately $32,000. Finally, Mizuho Securities Co. Ltd. purchased a new stake in shares of Intel during the first quarter valued at approximately $32,000. 64.53% of the stock is owned by institutional investors.

Intel Stock Performance

INTC opened at $22.55 on Wednesday. The firm has a market cap of $98.36 billion, a P/E ratio of -5.03 and a beta of 1.12. Intel Corporation has a 1-year low of $17.67 and a 1-year high of $37.16. The company has a 50 day simple moving average of $20.60 and a two-hundred day simple moving average of $21.08. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.31 and a quick ratio of 0.93.

Intel (NASDAQ:INTC) last announced its quarterly earnings data on Thursday, April 24th. The chip maker reported $0.13 EPS for the quarter, beating the consensus estimate of $0.01 by $0.12. The business had revenue of $12.67 billion for the quarter, compared to the consensus estimate of $12.26 billion. Intel had a negative return on equity of 3.15% and a negative net margin of 36.19%. The business’s revenue was down .4% on a year-over-year basis. During the same period in the previous year, the business earned $0.18 earnings per share. Equities analysts forecast that Intel Corporation will post -0.11 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently issued reports on INTC. Needham & Company LLC reaffirmed a “hold” rating on shares of Intel in a research report on Friday, April 25th. Bank of America upgraded Intel from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from $19.00 to $25.00 in a research note on Thursday, March 13th. Seaport Res Ptn raised Intel to a “strong sell” rating in a research report on Wednesday, April 30th. Cantor Fitzgerald decreased their target price on Intel from $29.00 to $20.00 and set a “neutral” rating for the company in a research report on Monday, April 21st. Finally, Morgan Stanley dropped their price target on shares of Intel from $25.00 to $23.00 and set an “equal weight” rating on the stock in a report on Friday, April 25th. 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 stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus 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.