Red Crane Wealth Management LLC Buys Shares of 12,963 Intel Co. (NASDAQ:INTC)

Red Crane Wealth Management LLC acquired a new stake in Intel Co. (NASDAQ:INTC) in the 4th quarter, Holdings Channel.com reports. The fund acquired 12,963 shares of the chip maker’s stock, valued at approximately $260,000.

Other institutional investors have also recently made changes to their positions in the company. Hennion & Walsh Asset Management Inc. boosted its stake in Intel by 32.2% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 10,387 shares of the chip maker’s stock worth $244,000 after purchasing an additional 2,531 shares during the period. Patriot Financial Group Insurance Agency LLC increased its position in shares of Intel by 124.8% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 44,969 shares of the chip maker’s stock valued at $1,055,000 after acquiring an additional 24,969 shares during the period. Nisa Investment Advisors LLC boosted its holdings in shares of Intel by 46.8% during the third quarter. Nisa Investment Advisors LLC now owns 1,691,569 shares of the chip maker’s stock worth $39,684,000 after purchasing an additional 539,373 shares during the period. Pallas Capital Advisors LLC grew its stake in shares of Intel by 14.1% in the third quarter. Pallas Capital Advisors LLC now owns 24,022 shares of the chip maker’s stock worth $537,000 after purchasing an additional 2,962 shares during the last quarter. Finally, abrdn plc increased its position in Intel by 16.2% during the 3rd quarter. abrdn plc now owns 6,955,437 shares of the chip maker’s stock valued at $163,279,000 after purchasing an additional 970,626 shares during the period. Institutional investors own 64.53% of the company’s stock.

Intel Stock Performance

Shares of INTC stock opened at $22.99 on Wednesday. The firm has a market capitalization of $99.55 billion, a P/E ratio of -5.25 and a beta of 1.08. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.33 and a quick ratio of 0.98. The company’s fifty day moving average price is $20.96 and its two-hundred day moving average price is $21.73. Intel Co. has a 12 month low of $18.51 and a 12 month high of $46.63.

Intel (NASDAQ:INTC) last released its quarterly earnings data on Thursday, January 30th. The chip maker reported ($0.02) earnings per share (EPS) 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, research analysts anticipate that Intel Co. will post -0.11 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on INTC shares. UBS Group decreased their target price on shares of Intel from $26.00 to $23.00 and set a “neutral” rating for the company in a research note on Tuesday, January 21st. Bank of America restated an “underperform” rating and set a $21.00 price target on shares of Intel in a report on Tuesday, December 3rd. HSBC upgraded shares of Intel from a “reduce” rating to a “hold” rating in a research note on Tuesday, January 21st. Stifel Nicolaus reduced their price objective on shares of Intel from $25.00 to $21.00 and set a “hold” rating for the company in a research note on Friday, January 31st. Finally, JPMorgan Chase & Co. cut their price target on shares of Intel from $26.00 to $23.00 and set an “underweight” rating on the stock in a report on Friday, January 31st. Five research analysts have rated the stock with a sell rating, twenty-seven have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $26.88.

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.