Foundation Resource Management Inc. Sells 16,686 Shares of Intel Co. (NASDAQ:INTC)

Foundation Resource Management Inc. trimmed its position in shares of Intel Co. (NASDAQ:INTC) by 3.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 530,626 shares of the chip maker’s stock after selling 16,686 shares during the period. Intel comprises 1.9% of Foundation Resource Management Inc.’s holdings, making the stock its 18th biggest holding. Foundation Resource Management Inc.’s holdings in Intel were worth $12,051,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Freestone Grove Partners LP bought a new position in shares of Intel during the fourth quarter valued at approximately $62,654,000. Clifford Swan Investment Counsel LLC raised its holdings in shares of Intel by 1.9% in the fourth quarter. Clifford Swan Investment Counsel LLC now owns 819,532 shares of the chip maker’s stock worth $16,432,000 after buying an additional 15,214 shares during the last quarter. Toronto Dominion Bank raised its holdings in shares of Intel by 286.8% in the fourth quarter. Toronto Dominion Bank now owns 10,529,354 shares of the chip maker’s stock worth $211,114,000 after buying an additional 7,806,882 shares during the last quarter. 180 Wealth Advisors LLC raised its holdings in shares of Intel by 124.9% during the first quarter. 180 Wealth Advisors LLC now owns 127,916 shares of the chip maker’s stock worth $2,905,000 after purchasing an additional 71,049 shares during the last quarter. Finally, Alteri Wealth LLC purchased a new position in shares of Intel during the fourth quarter worth $2,379,000. 64.53% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

INTC has been the topic of several analyst reports. Sanford C. Bernstein dropped their price target on shares of Intel from $25.00 to $21.00 and set a “market perform” rating on the stock in a research report on Tuesday, April 22nd. Barclays reiterated a “reduce” rating on shares of Intel in a research report on Tuesday, April 22nd. Benchmark reissued a “hold” rating on shares of Intel in a research note on Friday, April 25th. Seaport Res Ptn raised shares of Intel to a “strong sell” rating in a research note on Wednesday, April 30th. Finally, Susquehanna reduced their target price on shares of Intel from $24.00 to $22.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 16th. Six equities research 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 stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $21.57.

Intel Stock Up 0.4%

Shares of Intel stock opened at $20.06 on Monday. The company has a market cap of $87.50 billion, a P/E ratio of -4.58 and a beta of 1.12. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.98 and a current ratio of 1.33. Intel Co. has a one year low of $17.67 and a one year high of $37.16. The firm has a fifty day moving average of $20.39 and a two-hundred day moving average of $21.24.

Intel (NASDAQ:INTC) last announced its quarterly earnings data on Thursday, April 24th. The chip maker reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.12. The company had revenue of $12.67 billion during the quarter, compared to the consensus estimate of $12.26 billion. Intel had a negative net margin of 35.32% and a negative return on equity of 3.27%. Intel’s quarterly revenue was down .4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.18 EPS. On average, analysts forecast that Intel Co. will post -0.11 earnings per share for the current year.

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.