NewEdge Advisors LLC Sells 60,382 Shares of Intel Co. (NASDAQ:INTC)

NewEdge Advisors LLC lessened its stake in Intel Co. (NASDAQ:INTC) by 30.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 135,527 shares of the chip maker’s stock after selling 60,382 shares during the period. NewEdge Advisors LLC’s holdings in Intel were worth $2,717,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of INTC. Morse Asset Management Inc purchased a new stake in shares of Intel during the 3rd quarter valued at $354,000. Advisory Resource Group boosted its holdings in Intel by 6.7% in the third quarter. Advisory Resource Group now owns 16,579 shares of the chip maker’s stock worth $389,000 after acquiring an additional 1,034 shares in the last quarter. SOA Wealth Advisors LLC. grew its stake in shares of Intel by 7.3% during the third quarter. SOA Wealth Advisors LLC. now owns 9,076 shares of the chip maker’s stock worth $213,000 after acquiring an additional 615 shares during the last quarter. World Investment Advisors LLC raised its position in shares of Intel by 59.6% in the 3rd quarter. World Investment Advisors LLC now owns 42,990 shares of the chip maker’s stock valued at $1,009,000 after purchasing an additional 16,046 shares during the last quarter. Finally, Denver PWM LLC boosted its stake in Intel by 752.1% in the 3rd quarter. Denver PWM LLC now owns 26,425 shares of the chip maker’s stock worth $620,000 after purchasing an additional 23,324 shares in the last quarter. 64.53% of the stock is owned by hedge funds and other institutional investors.

Intel Trading Down 0.5 %

INTC stock opened at $18.84 on Tuesday. The business’s 50-day moving average is $22.26 and its 200 day moving average is $21.93. Intel Co. has a 12-month low of $17.67 and a 12-month high of $37.16. The stock has a market cap of $82.15 billion, a price-to-earnings ratio of -4.30 and a beta of 1.13. The company has a current ratio of 1.33, a quick ratio of 0.98 and a debt-to-equity ratio of 0.44.

Intel (NASDAQ:INTC) last announced its quarterly earnings data on Thursday, January 30th. The chip maker reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.14). Intel had a negative net margin of 35.32% and a negative return on equity of 3.27%. On average, sell-side analysts anticipate that Intel Co. will post -0.11 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on INTC shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Intel in a report on Monday, April 14th. Truist Financial reduced their target price on Intel from $22.00 to $21.00 and set a “hold” rating for the company in a research note on Friday, January 31st. UBS Group dropped their price target on Intel from $23.00 to $22.00 and set a “neutral” rating on the stock in a research note on Monday, April 14th. Stifel Nicolaus decreased their target price on Intel from $25.00 to $21.00 and set a “hold” rating for the company in a report on Friday, January 31st. Finally, Susquehanna dropped their target price on Intel from $24.00 to $22.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 16th. Four investment analysts have rated the stock with a sell rating, twenty-eight have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Intel has an average rating of “Hold” and a consensus price target of $25.00.

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.