Greenwood Capital Associates LLC Cuts Stock Holdings in Intel Co. (NASDAQ:INTC)

Greenwood Capital Associates LLC reduced its stake in Intel Co. (NASDAQ:INTC) by 54.8% during the 1st quarter, Holdings Channel reports. The fund owned 35,162 shares of the chip maker’s stock after selling 42,640 shares during the quarter. Greenwood Capital Associates LLC’s holdings in Intel were worth $799,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cornerstone Advisory LLC raised its position in Intel by 4.3% in the 4th quarter. Cornerstone Advisory LLC now owns 9,863 shares of the chip maker’s stock valued at $198,000 after purchasing an additional 409 shares in the last quarter. Evergreen Capital Management LLC increased its stake in shares of Intel by 1.0% during the fourth quarter. Evergreen Capital Management LLC now owns 41,904 shares of the chip maker’s stock worth $840,000 after buying an additional 419 shares during the period. Federated Hermes Inc. increased its stake in shares of Intel by 0.3% during the fourth quarter. Federated Hermes Inc. now owns 162,757 shares of the chip maker’s stock worth $3,263,000 after buying an additional 456 shares during the period. Ausdal Financial Partners Inc. raised its holdings in Intel by 2.0% in the fourth quarter. Ausdal Financial Partners Inc. now owns 24,963 shares of the chip maker’s stock valued at $501,000 after acquiring an additional 500 shares in the last quarter. Finally, Wealth Quarterback LLC lifted its stake in Intel by 2.0% in the fourth quarter. Wealth Quarterback LLC now owns 25,458 shares of the chip maker’s stock worth $510,000 after acquiring an additional 508 shares during the last quarter. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Benchmark reissued a “hold” rating on shares of Intel in a research report on Friday, April 25th. Deutsche Bank Aktiengesellschaft started coverage on shares of Intel in a research note on Wednesday, May 21st. They set a “hold” rating and a $23.00 target price for the company. Citigroup restated a “sell” rating on shares of Intel in a research note on Friday, April 25th. Bank of America raised Intel from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $19.00 to $25.00 in a research report on Thursday, March 13th. Finally, Wall Street Zen upgraded Intel from a “sell” rating to a “hold” rating in a report on Saturday, May 24th. Six 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 stock. Based on data from MarketBeat, Intel currently has an average rating of “Hold” and a consensus target price of $21.57.

Intel Stock Performance

Shares of INTC opened at $20.77 on Friday. The company’s 50 day simple moving average is $20.39 and its 200-day simple moving average is $21.19. The firm has a market cap of $90.60 billion, a PE ratio of -4.74 and a beta of 1.12. Intel Co. has a 12-month low of $17.67 and a 12-month high of $37.16. The company has a current ratio of 1.33, a quick ratio of 0.98 and a debt-to-equity ratio of 0.44.

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

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.