SOL Capital Management CO Sells 42,825 Shares of Intel Corporation (NASDAQ:INTC)

SOL Capital Management CO trimmed its position in shares of Intel Corporation (NASDAQ:INTC) by 40.4% in the 1st quarter, Holdings Channel.com reports. The firm owned 63,063 shares of the chip maker’s stock after selling 42,825 shares during the quarter. SOL Capital Management CO’s holdings in Intel were worth $1,432,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of INTC. Vermillion Wealth Management Inc. purchased a new stake in shares of Intel during the fourth quarter worth $27,000. Synergy Investment Management LLC purchased a new stake in shares of Intel during the fourth quarter worth $27,000. Mizuho Securities Co. Ltd. purchased a new stake in shares of Intel during the first quarter worth $32,000. BankPlus Trust Department purchased a new stake in shares of Intel during the fourth quarter worth $28,000. Finally, EQ Wealth Advisors LLC purchased a new stake in shares of Intel during the first quarter worth $33,000. 64.53% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Mizuho dropped their target price on Intel from $23.00 to $22.00 and set a “neutral” rating on the stock in a research report on Friday, April 25th. JPMorgan Chase & Co. dropped their target price on Intel from $23.00 to $20.00 and set an “underweight” rating on the stock in a research report on Friday, April 25th. Benchmark restated a “hold” rating on shares of Intel in a research report on Friday, April 25th. Seaport Res Ptn upgraded Intel to a “strong sell” rating in a research report on Wednesday, April 30th. Finally, Wells Fargo & Company lowered their price objective on Intel from $25.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Friday, April 25th. Six research analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Intel currently has a consensus rating of “Hold” and an average price target of $21.57.

Intel Trading Down 1.6%

NASDAQ INTC opened at $22.20 on Thursday. The stock’s 50-day simple moving average is $20.66 and its two-hundred day simple moving average is $21.09. Intel Corporation has a twelve month low of $17.67 and a twelve month high of $37.16. The company has a quick ratio of 0.93, a current ratio of 1.31 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $96.84 billion, a price-to-earnings ratio of -4.96 and a beta of 1.12.

Intel (NASDAQ:INTC) last released its quarterly earnings results 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 business had revenue of $12.67 billion for the quarter, compared to the consensus estimate of $12.26 billion. Intel had a negative return on equity of 3.15% and a negative net margin of 36.19%. The company’s revenue for the quarter was down .4% on a year-over-year basis. During the same quarter last year, the business posted $0.18 earnings per share. Research analysts forecast that Intel Corporation will post -0.11 EPS for the current fiscal 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.