Tocqueville Asset Management L.P. Sells 2,900 Shares of Intel Corporation $INTC

Tocqueville Asset Management L.P. reduced its holdings in shares of Intel Corporation (NASDAQ:INTC) by 13.4% in the first quarter, according to its most recent filing with the SEC. The fund owned 18,790 shares of the chip maker’s stock after selling 2,900 shares during the period. Tocqueville Asset Management L.P.’s holdings in Intel were worth $427,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in INTC. XTX Topco Ltd acquired a new stake in Intel in the fourth quarter worth about $490,000. Capital International Inc. CA increased its stake in Intel by 36.8% during the 4th quarter. Capital International Inc. CA now owns 155,345 shares of the chip maker’s stock valued at $3,115,000 after purchasing an additional 41,780 shares in the last quarter. TD Waterhouse Canada Inc. increased its position in shares of Intel by 64.2% in the 4th quarter. TD Waterhouse Canada Inc. now owns 206,349 shares of the chip maker’s stock valued at $4,139,000 after acquiring an additional 80,681 shares during the period. J. Safra Sarasin Holding AG increased its holdings in shares of Intel by 38.7% in the fourth quarter. J. Safra Sarasin Holding AG now owns 362,843 shares of the chip maker’s stock valued at $7,275,000 after purchasing an additional 101,197 shares during the period. Finally, SIH Partners LLLP purchased a new position in shares of Intel in the fourth quarter worth about $1,653,000. 64.53% of the stock is currently owned by institutional investors.

Intel Trading Down 3.7%

Shares of INTC opened at $23.66 on Tuesday. 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 stock has a market cap of $103.56 billion, a price-to-earnings ratio of -4.96 and a beta of 1.22. The firm has a 50 day simple moving average of $21.88 and a 200-day simple moving average of $21.60.

Intel (NASDAQ:INTC) last released its quarterly earnings results on Thursday, July 24th. The chip maker reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.11). The firm had revenue of $12.86 billion for 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%. Intel’s revenue for the quarter was up .5% on a year-over-year basis. During the same period in the prior year, the business earned $0.02 earnings per share. Equities analysts forecast that Intel Corporation will post -0.11 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

INTC has been the topic of a number of research reports. Rosenblatt Securities reiterated a “sell” rating and issued a $14.00 price objective on shares of Intel in a research note on Friday, July 25th. Barclays reiterated a “reduce” rating on shares of Intel in a research note on Tuesday, April 22nd. Mizuho lifted their price target on Intel from $22.00 to $23.00 and gave the company a “neutral” rating in a research note on Thursday, July 3rd. Wells Fargo & Company decreased their target price on Intel from $25.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Friday, April 25th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Intel in a research note on Wednesday, May 21st. They issued a “hold” rating and a $23.00 price target on the stock. Six investment analysts have rated the stock with a sell rating, twenty-three have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $22.17.

Intel Company 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.