Gateway Investment Advisers LLC Decreases Holdings in Intel Co. (NASDAQ:INTC)

Gateway Investment Advisers LLC lessened its stake in shares of Intel Co. (NASDAQ:INTC) by 1.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 730,898 shares of the chip maker’s stock after selling 7,520 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Intel were worth $16,599,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Synergy Investment Management LLC acquired a new stake in Intel during the 4th quarter worth approximately $27,000. Vermillion Wealth Management Inc. acquired a new position in Intel in the fourth quarter valued at approximately $27,000. BankPlus Trust Department bought a new position in shares of Intel during the fourth quarter worth about $28,000. Keystone Financial Group Inc. acquired a new position in shares of Intel during the fourth quarter valued at $29,000. Finally, Conquis Financial LLC bought a new stake in Intel during the fourth quarter worth approximately $32,000. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on INTC shares. Benchmark reissued a “hold” rating on shares of Intel in a research report on Friday, April 25th. Wedbush cut their price target on Intel from $20.00 to $19.00 and set a “neutral” rating for the company in a research note on Wednesday, April 23rd. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Intel in a research note on Wednesday, May 21st. They issued a “hold” rating and a $23.00 price objective for the company. Cantor Fitzgerald decreased their target price on Intel from $29.00 to $20.00 and set a “neutral” rating for the company in a research report on Monday, April 21st. Finally, Rosenblatt Securities dropped their target price on shares of Intel from $18.00 to $14.00 and set a “sell” rating on the stock in a research report on Friday, April 25th. Six equities research analysts have rated the stock with a sell rating, twenty-five have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $21.57.

Intel Stock Up 0.4%

Shares of INTC opened at $20.06 on Friday. The firm has a market cap of $87.50 billion, a P/E ratio of -4.58 and a beta of 1.15. The stock has a 50 day simple moving average of $20.39 and a two-hundred day simple moving average of $21.28. Intel Co. has a 1 year low of $17.67 and a 1 year high of $37.16. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.33 and a quick ratio of 0.98.

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

Intel Company 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.