Boyar Asset Management Inc. Sells 2,680 Shares of Intel Co. (NASDAQ:INTC)

Boyar Asset Management Inc. trimmed its holdings in shares of Intel Co. (NASDAQ:INTC) by 5.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 48,211 shares of the chip maker’s stock after selling 2,680 shares during the quarter. Boyar Asset Management Inc.’s holdings in Intel were worth $967,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of INTC. Vanguard Group Inc. increased its holdings in shares of Intel by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 369,099,204 shares of the chip maker’s stock worth $7,400,439,000 after purchasing an additional 6,143,164 shares during the period. Geode Capital Management LLC raised its holdings in Intel by 3.2% in the 4th quarter. Geode Capital Management LLC now owns 95,488,444 shares of the chip maker’s stock valued at $1,909,761,000 after acquiring an additional 2,978,346 shares in the last quarter. Norges Bank acquired a new position in Intel in the 4th quarter valued at $1,246,569,000. Northern Trust Corp grew its holdings in shares of Intel by 15.5% during the 4th quarter. Northern Trust Corp now owns 45,811,555 shares of the chip maker’s stock worth $918,522,000 after purchasing an additional 6,157,853 shares in the last quarter. Finally, Invesco Ltd. increased its position in shares of Intel by 9.4% in the fourth quarter. Invesco Ltd. now owns 43,088,830 shares of the chip maker’s stock worth $863,931,000 after purchasing an additional 3,696,377 shares during the period. Institutional investors and hedge funds own 64.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on INTC shares. Truist Financial reduced their price objective on shares of Intel from $22.00 to $21.00 and set a “hold” rating on the stock in a research note on Friday, January 31st. UBS Group decreased their price objective on shares of Intel from $22.00 to $21.00 and set a “neutral” rating on the stock in a research note on Friday, April 25th. Roth Mkm cut their target price on Intel from $25.00 to $20.00 and set a “neutral” rating for the company in a research note on Friday, January 31st. HSBC upgraded Intel from a “reduce” rating to a “hold” rating in a research note on Tuesday, January 21st. Finally, Cantor Fitzgerald reduced their price objective on Intel from $29.00 to $20.00 and set a “neutral” rating on the stock in a research note on Monday, April 21st. Five investment analysts have rated the stock with a sell rating, twenty-six have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Intel has an average rating of “Hold” and an average price target of $22.23.

Intel Price Performance

Shares of INTC opened at $20.34 on Wednesday. The firm has a market cap of $88.69 billion, a PE ratio of -4.64 and a beta of 1.13. Intel Co. has a 52-week low of $17.67 and a 52-week high of $37.16. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.98 and a current ratio of 1.33. The business’s 50 day moving average price is $21.70 and its two-hundred day moving average price is $21.82.

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

Intel 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.