Mirae Asset Global Investments Co. Ltd. Raises Stock Position in Intel Corporation (NASDAQ:INTC)

Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Intel Corporation (NASDAQ:INTC) by 5.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,134,811 shares of the chip maker’s stock after purchasing an additional 216,783 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Intel were worth $93,902,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of INTC. Lake Street Advisors Group LLC lifted its position in Intel by 60.3% during the fourth quarter. Lake Street Advisors Group LLC now owns 20,950 shares of the chip maker’s stock valued at $420,000 after purchasing an additional 7,884 shares during the last quarter. Advisor OS LLC lifted its position in Intel by 8.1% during the fourth quarter. Advisor OS LLC now owns 10,474 shares of the chip maker’s stock valued at $210,000 after purchasing an additional 783 shares during the last quarter. Whipplewood Advisors LLC bought a new stake in Intel during the fourth quarter valued at approximately $64,000. New York Life Investment Management LLC lifted its position in Intel by 1.3% during the fourth quarter. New York Life Investment Management LLC now owns 669,836 shares of the chip maker’s stock valued at $13,430,000 after purchasing an additional 8,412 shares during the last quarter. Finally, Proficio Capital Partners LLC bought a new stake in Intel during the fourth quarter valued at approximately $1,789,000. 64.53% of the stock is currently owned by institutional investors.

Intel Stock Up 0.8%

Shares of Intel stock opened at $22.69 on Friday. 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 company’s fifty day simple moving average is $20.81 and its two-hundred day simple moving average is $21.12. The company has a market cap of $98.97 billion, a P/E ratio of -5.06 and a beta of 1.12. Intel Corporation has a 12-month low of $17.67 and a 12-month high of $37.16.

Intel (NASDAQ:INTC) last issued its quarterly earnings data 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. The business had revenue of $12.67 billion for the quarter, compared to the consensus estimate 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 quarterly revenue was down .4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.18 EPS. Research analysts anticipate that Intel Corporation will post -0.11 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Seaport Res Ptn upgraded shares of Intel to a “strong sell” rating in a report on Wednesday, April 30th. Cfra Research upgraded shares of Intel to a “hold” rating in a report on Friday, April 25th. 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 report on Wednesday, April 16th. Sanford C. Bernstein lowered their price objective on shares of 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 lowered their price objective on shares of Intel from $18.00 to $14.00 and set a “sell” rating for the company in a report on Friday, April 25th. Six investment analysts have rated the stock with a sell rating, twenty-five have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average 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.