Hoertkorn Richard Charles Cuts Position in Intel Co. (NASDAQ:INTC)

Hoertkorn Richard Charles cut its holdings in Intel Co. (NASDAQ:INTC) by 41.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 81,975 shares of the chip maker’s stock after selling 58,777 shares during the period. Intel accounts for about 0.7% of Hoertkorn Richard Charles’ holdings, making the stock its 27th biggest position. Hoertkorn Richard Charles’ holdings in Intel were worth $1,644,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Quest Partners LLC lifted its stake in Intel by 7,370.6% during the third quarter. Quest Partners LLC now owns 1,270 shares of the chip maker’s stock valued at $30,000 after buying an additional 1,253 shares in the last quarter. Townsquare Capital LLC grew its stake in shares of Intel by 2.7% in the third quarter. Townsquare Capital LLC now owns 61,109 shares of the chip maker’s stock worth $1,434,000 after acquiring an additional 1,633 shares during the last quarter. CreativeOne Wealth LLC increased its stake in Intel by 104.9% in the third quarter. CreativeOne Wealth LLC now owns 60,831 shares of the chip maker’s stock valued at $1,427,000 after acquiring an additional 31,143 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Intel by 12.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,414,459 shares of the chip maker’s stock worth $56,643,000 after acquiring an additional 263,429 shares during the last quarter. Finally, Public Sector Pension Investment Board boosted its holdings in Intel by 6.5% in the third quarter. Public Sector Pension Investment Board now owns 1,292,089 shares of the chip maker’s stock valued at $30,312,000 after acquiring an additional 78,500 shares during the last quarter. 64.53% of the stock is owned by hedge funds and other institutional investors.

Intel Stock Performance

Intel stock opened at $23.62 on Friday. The business’s 50-day moving average price is $22.30 and its two-hundred day moving average price is $22.10. The stock has a market cap of $102.27 billion, a PE ratio of -5.39 and a beta of 1.02. The company has a quick ratio of 0.98, a current ratio of 1.33 and a debt-to-equity ratio of 0.44. Intel Co. has a 12-month low of $18.51 and a 12-month high of $45.41.

Intel (NASDAQ:INTC) last released its earnings results 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 return on equity of 3.27% and a negative net margin of 35.32%. As a group, analysts expect that Intel Co. will post -0.11 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Cantor Fitzgerald lifted their target price on shares of Intel from $22.00 to $29.00 and gave the stock a “neutral” rating in a report on Tuesday, February 18th. Needham & Company LLC reiterated a “hold” rating on shares of Intel in a report on Friday, January 31st. Mizuho dropped their target price on Intel from $23.00 to $21.00 and set a “neutral” rating on the stock in a research report on Friday, January 10th. Truist Financial dropped their target price on Intel from $22.00 to $21.00 and set a “hold” rating for the company in a report on Friday, January 31st. Finally, Bank of America upgraded shares of Intel from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $19.00 to $25.00 in a report on Thursday, March 13th. Four equities research analysts have rated the stock with a sell rating, twenty-eight have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $27.04.

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.