Empirical Financial Services LLC d.b.a. Empirical Wealth Management Lowers Position in Intel Corporation (NASDAQ:INTC)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management trimmed its stake in shares of Intel Corporation (NASDAQ:INTC) by 28.9% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 35,160 shares of the chip maker’s stock after selling 14,318 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Intel were worth $798,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Two Sigma Advisers LP purchased a new stake in shares of Intel in the fourth quarter worth about $289,752,000. Two Sigma Investments LP purchased a new stake in shares of Intel during the 4th quarter worth approximately $237,457,000. Toronto Dominion Bank raised its holdings in shares of Intel by 286.8% during the 4th quarter. Toronto Dominion Bank now owns 10,529,354 shares of the chip maker’s stock worth $211,114,000 after acquiring an additional 7,806,882 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd grew its holdings in shares of Intel by 1,180.8% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 7,209,637 shares of the chip maker’s stock valued at $163,731,000 after purchasing an additional 6,646,727 shares in the last quarter. Finally, Northern Trust Corp grew its holdings 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 valued at $918,522,000 after purchasing an additional 6,157,853 shares in the last quarter. 64.53% of the stock is currently owned by institutional investors.

Intel Trading Down 2.5%

Shares of INTC opened at $19.31 on Friday. The firm has a market capitalization of $84.52 billion, a price-to-earnings ratio of -4.05 and a beta of 1.22. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.24 and a quick ratio of 0.92. Intel Corporation has a 1-year low of $17.67 and a 1-year high of $27.55. The company has a 50-day moving average of $21.58 and a 200 day moving average of $21.51.

Intel (NASDAQ:INTC) last issued its earnings results on Thursday, July 24th. The chip maker reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.11). The company had revenue of $12.86 billion for the quarter, compared to analysts’ expectations of $11.88 billion. Intel had a negative return on equity of 3.78% and a negative net margin of 38.64%. The business’s revenue was up .5% compared to the same quarter last year. During the same period last year, the business posted $0.02 earnings per share. On average, research analysts expect that Intel Corporation will post -0.11 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Benchmark reiterated a “hold” rating on shares of Intel in a research report on Friday, July 25th. Cfra Research upgraded shares of Intel to a “hold” rating in a research report on Friday, April 25th. Citigroup reaffirmed a “hold” rating on shares of Intel in a report on Tuesday, July 8th. Wall Street Zen cut Intel from a “hold” rating to a “sell” rating in a research note on Saturday, July 26th. Finally, Mizuho upped their price objective on Intel from $22.00 to $23.00 and gave the company a “neutral” rating in a research report on Thursday, July 3rd. Six research analysts have rated the stock with a sell rating, twenty-six have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $22.30.

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.