626 Financial LLC Decreases Stake in Intel Co. (NASDAQ:INTC)

626 Financial LLC reduced its stake in Intel Co. (NASDAQ:INTC) by 4.7% in the 1st quarter, HoldingsChannel.com reports. The firm owned 16,038 shares of the chip maker’s stock after selling 798 shares during the period. 626 Financial LLC’s holdings in Intel were worth $364,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of INTC. Norges Bank purchased a new position in shares of Intel in the 4th quarter valued at approximately $1,246,569,000. Two Sigma Advisers LP acquired a new position in Intel in the 4th quarter worth approximately $289,752,000. Two Sigma Investments LP acquired a new position in Intel in the 4th quarter worth approximately $237,457,000. Toronto Dominion Bank increased its holdings in Intel by 286.8% in the 4th quarter. Toronto Dominion Bank now owns 10,529,354 shares of the chip maker’s stock worth $211,114,000 after buying an additional 7,806,882 shares during the period. Finally, Northern Trust Corp increased its holdings in Intel by 15.5% in the 4th quarter. Northern Trust Corp now owns 45,811,555 shares of the chip maker’s stock worth $918,522,000 after buying an additional 6,157,853 shares during the period. 64.53% of the stock is owned by hedge funds and other institutional investors.

Intel Price Performance

Intel stock opened at $19.99 on Friday. The company’s fifty day moving average price is $20.43 and its 200 day moving average price is $21.31. 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 stock has a market capitalization of $87.20 billion, a P/E ratio of -4.56 and a beta of 1.15. Intel Co. has a 1 year low of $17.67 and a 1 year high of $37.16.

Intel (NASDAQ:INTC) last announced its quarterly earnings data on Thursday, April 24th. The chip maker reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.12. The company had revenue of $12.67 billion for the quarter, compared to analyst estimates of $12.26 billion. Intel had a negative return on equity of 3.27% and a negative net margin of 35.32%. The firm’s revenue for the quarter was down .4% on a year-over-year basis. During the same quarter last year, the firm posted $0.18 EPS. As a group, equities research analysts anticipate that Intel Co. will post -0.11 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on INTC shares. Deutsche Bank Aktiengesellschaft started coverage on shares of Intel in a report on Wednesday, May 21st. They issued a “hold” rating and a $23.00 price target on the stock. Barclays reiterated a “reduce” rating on shares of Intel in a report on Tuesday, April 22nd. Benchmark reiterated a “hold” rating on shares of Intel in a report on Friday, April 25th. Wedbush dropped their price objective on shares of Intel from $20.00 to $19.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 23rd. Finally, Mizuho dropped their price objective on shares of Intel from $23.00 to $22.00 and set a “neutral” rating on the stock in a research note on Friday, April 25th. Six investment analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $21.57.

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.