Ancora Advisors LLC Sells 23,690 Shares of Intel Co. (NASDAQ:INTC)

Ancora Advisors LLC reduced its position in shares of Intel Co. (NASDAQ:INTC) by 69.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,340 shares of the chip maker’s stock after selling 23,690 shares during the period. Ancora Advisors LLC’s holdings in Intel were worth $207,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in INTC. Finley Financial LLC bought a new position in shares of Intel in the fourth quarter valued at approximately $25,000. Synergy Investment Management LLC purchased a new position in Intel in the fourth quarter worth $27,000. BankPlus Trust Department bought a new position in Intel in the 4th quarter valued at $28,000. Keystone Financial Group Inc. purchased a new stake in shares of Intel during the 4th quarter valued at $29,000. Finally, West Financial Advisors LLC bought a new stake in shares of Intel during the 4th quarter worth $31,000. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

Intel Stock Down 1.6 %

Shares of NASDAQ INTC opened at $19.94 on Wednesday. The company has a current ratio of 1.33, a quick ratio of 0.98 and a debt-to-equity ratio of 0.44. The business has a 50-day moving average of $21.35 and a 200-day moving average of $21.73. The firm has a market capitalization of $86.98 billion, a price-to-earnings ratio of -4.55 and a beta of 1.15. Intel Co. has a 12 month low of $17.67 and a 12 month high of $37.16.

Intel (NASDAQ:INTC) last released its quarterly earnings results on Thursday, April 24th. The chip maker reported $0.13 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $12.26 billion. During the same quarter in the previous year, the company earned $0.18 EPS. The business’s quarterly revenue was down .4% compared to the same quarter last year. Sell-side analysts expect that Intel Co. will post -0.11 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

INTC has been the subject of a number of research analyst reports. Citigroup restated a “sell” rating on shares of Intel in a report on Friday, April 25th. Roth Mkm lowered their price target on shares of Intel from $25.00 to $20.00 and set a “neutral” rating on the stock in a report on Friday, January 31st. Needham & Company LLC reissued a “hold” rating on shares of Intel in a report on Friday, April 25th. Hsbc Global Res raised Intel from a “moderate sell” rating to a “hold” rating in a research report on Tuesday, January 21st. Finally, Wedbush dropped their price target on Intel from $20.00 to $19.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 23rd. Six investment 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, the company currently has an average rating of “Hold” and an average target price of $22.23.

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.