Intel Corporation (NASDAQ:INTC) Shares Sold by Westchester Capital Management Inc.

Westchester Capital Management Inc. trimmed its stake in shares of Intel Corporation (NASDAQ:INTC) by 1.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 200,186 shares of the chip maker’s stock after selling 1,960 shares during the quarter. Intel comprises 1.1% of Westchester Capital Management Inc.’s portfolio, making the stock its 25th largest position. Westchester Capital Management Inc.’s holdings in Intel were worth $4,546,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in INTC. N.E.W. Advisory Services LLC acquired a new stake in Intel in the 1st quarter valued at approximately $25,000. MJT & Associates Financial Advisory Group Inc. acquired a new stake in Intel in the 1st quarter valued at approximately $27,000. LFA Lugano Financial Advisors SA acquired a new stake in Intel in the 1st quarter valued at approximately $30,000. Vermillion Wealth Management Inc. acquired a new stake in Intel in the 4th quarter valued at approximately $27,000. Finally, Mizuho Securities Co. Ltd. acquired a new stake in Intel in the 1st quarter valued at approximately $32,000. 64.53% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

INTC has been the subject of a number of research reports. Wall Street Zen lowered Intel from a “hold” rating to a “sell” rating in a research note on Saturday, July 26th. Needham & Company LLC reaffirmed a “hold” rating on shares of Intel in a research note on Friday, July 25th. Stifel Nicolaus increased their price target on Intel from $21.00 to $24.50 and gave the company a “hold” rating in a research note on Monday, July 21st. Seaport Res Ptn raised Intel to a “strong sell” rating in a research note on Wednesday, April 30th. Finally, Loop Capital initiated coverage on Intel in a research note on Monday, July 21st. They set a “hold” rating and a $25.00 price target for the company. Six analysts have rated the stock with a sell rating, twenty-six have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $22.30.

Intel Stock Performance

Shares of Intel stock opened at $19.31 on Friday. The stock has a market cap of $84.52 billion, a PE ratio of -4.05 and a beta of 1.22. The business has a fifty day simple moving average of $21.58 and a 200-day simple moving average of $21.51. The company has a quick ratio of 0.92, a current ratio of 1.24 and a debt-to-equity ratio of 0.42. Intel Corporation has a 12 month low of $17.67 and a 12 month high of $27.55.

Intel (NASDAQ:INTC) last issued its earnings results on Thursday, July 24th. The chip maker reported ($0.10) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.11). The business had revenue of $12.86 billion during the quarter, compared to analyst estimates 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 quarterly revenue was up .5% on a year-over-year basis. During the same period last year, the business earned $0.02 EPS. On average, sell-side analysts anticipate that Intel Corporation will post -0.11 EPS for the current fiscal year.

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.