Onyx Bridge Wealth Group LLC Has $337,000 Stock Position in Intel Corporation $INTC

Onyx Bridge Wealth Group LLC lowered its stake in shares of Intel Corporation (NASDAQ:INTC) by 20.6% during the 2nd quarter, Holdings Channel.com reports. The firm owned 15,025 shares of the chip maker’s stock after selling 3,903 shares during the quarter. Onyx Bridge Wealth Group LLC’s holdings in Intel were worth $337,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. N.E.W. Advisory Services LLC acquired a new position in shares of Intel during the first quarter valued at about $25,000. HFM Investment Advisors LLC bought a new stake in Intel in the 1st quarter worth about $25,000. MJT & Associates Financial Advisory Group Inc. bought a new stake in Intel in the 1st quarter worth about $27,000. West Branch Capital LLC bought a new stake in Intel in the 2nd quarter worth about $28,000. Finally, LFA Lugano Financial Advisors SA bought a new position in shares of Intel during the 1st quarter valued at approximately $30,000. Institutional investors and hedge funds own 64.53% of the company’s stock.

Intel Stock Performance

Shares of INTC stock opened at $36.92 on Thursday. The stock has a market capitalization of $161.60 billion, a P/E ratio of -7.74 and a beta of 1.33. The company has a current ratio of 1.24, a quick ratio of 0.92 and a debt-to-equity ratio of 0.42. The firm’s 50 day moving average is $29.81 and its 200 day moving average is $24.06. Intel Corporation has a 12 month low of $17.67 and a 12 month high of $39.65.

Intel (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, July 24th. The chip maker reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.11). The business had revenue of $12.86 billion for the quarter, compared to analysts’ expectations of $11.88 billion. Intel had a negative net margin of 38.64% and a negative return on equity of 3.78%. The business’s quarterly revenue was up .5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.02 earnings per share. On average, sell-side analysts anticipate that Intel Corporation will post -0.11 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on INTC. Erste Group Bank raised shares of Intel from a “sell” rating to a “hold” rating in a research report on Monday, September 22nd. JPMorgan Chase & Co. reissued a “sell” rating and set a $21.00 target price on shares of Intel in a research report on Friday, September 19th. Citigroup reissued a “sell” rating and set a $29.00 target price (up from $24.00) on shares of Intel in a research report on Friday, September 19th. Morgan Stanley increased their target price on shares of Intel from $23.00 to $36.00 and gave the company an “equal weight” rating in a research report on Monday. Finally, TD Cowen increased their target price on shares of Intel from $20.00 to $35.00 and gave the company a “hold” rating in a research report on Friday, October 10th. Two research analysts have rated the stock with a Buy rating, twenty-three have given a Hold rating and seven have given a Sell rating to the stock. According to data from MarketBeat.com, Intel presently has an average rating of “Reduce” and a consensus price target of $29.26.

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.