HBK Sorce Advisory LLC Sells 585 Shares of Intel Corporation (NASDAQ:INTC)

HBK Sorce Advisory LLC trimmed its position in Intel Corporation (NASDAQ:INTC) by 1.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,099 shares of the chip maker’s stock after selling 585 shares during the quarter. HBK Sorce Advisory LLC’s holdings in Intel were worth $820,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of INTC. Union Bancaire Privee UBP SA purchased a new stake in Intel in the fourth quarter valued at approximately $45,000. IFP Advisors Inc raised its stake in shares of Intel by 221.4% during the fourth quarter. IFP Advisors Inc now owns 120,110 shares of the chip maker’s stock worth $2,408,000 after acquiring an additional 82,739 shares in the last quarter. BankPlus Trust Department bought a new stake in shares of Intel in the 4th quarter worth approximately $28,000. Bank of New York Mellon Corp increased its stake in shares of Intel by 0.3% in the fourth quarter. Bank of New York Mellon Corp now owns 30,616,197 shares of the chip maker’s stock worth $613,855,000 after buying an additional 86,483 shares during the period. Finally, Illinois Municipal Retirement Fund grew its stake in shares of Intel by 345.1% in the fourth quarter. Illinois Municipal Retirement Fund now owns 478,184 shares of the chip maker’s stock worth $9,588,000 after purchasing an additional 370,759 shares during the last quarter. 64.53% of the stock is currently owned by institutional investors.

Intel Stock Down 1.6%

NASDAQ:INTC opened at $22.20 on Thursday. 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 Corporation has a 1-year low of $17.67 and a 1-year high of $37.16. The company has a 50-day moving average of $20.66 and a 200 day moving average of $21.09. The firm has a market cap of $96.84 billion, a PE ratio of -4.96 and a beta of 1.12.

Intel (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, April 24th. The chip maker reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.12. The firm had revenue of $12.67 billion during the quarter, compared to analysts’ expectations of $12.26 billion. Intel had a negative net margin of 36.19% and a negative return on equity of 3.15%. The company’s revenue was down .4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.18 EPS. As a group, research analysts anticipate that Intel Corporation will post -0.11 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on INTC shares. Wedbush reduced their target price on shares of Intel from $20.00 to $19.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 23rd. Wall Street Zen raised Intel from a “sell” rating to a “hold” rating in a research report on Saturday, May 24th. Benchmark reissued a “hold” rating on shares of Intel in a report on Friday, April 25th. Sanford C. Bernstein reduced their target price on Intel from $25.00 to $21.00 and set a “market perform” rating for the company in a report on Tuesday, April 22nd. Finally, Rosenblatt Securities decreased their target price on shares of Intel from $18.00 to $14.00 and set a “sell” rating for the company in a research note on Friday, April 25th. Six research analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average 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.