Foundation Resource Management Inc. Sells 16,686 Shares of Intel Co. (NASDAQ:INTC)

Foundation Resource Management Inc. trimmed its position in Intel Co. (NASDAQ:INTC) by 3.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 530,626 shares of the chip maker’s stock after selling 16,686 shares during the period. Intel makes up approximately 1.9% of Foundation Resource Management Inc.’s portfolio, making the stock its 18th biggest position. Foundation Resource Management Inc.’s holdings in Intel were worth $12,051,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Strategic Financial Concepts LLC acquired a new position in Intel during the 4th quarter valued at about $782,000. Golden State Wealth Management LLC purchased a new stake in shares of Intel during the fourth quarter worth $73,000. Appleton Partners Inc. MA lifted its position in shares of Intel by 3.2% during the fourth quarter. Appleton Partners Inc. MA now owns 21,485 shares of the chip maker’s stock worth $431,000 after acquiring an additional 665 shares in the last quarter. Vest Financial LLC increased its holdings in shares of Intel by 34.0% in the fourth quarter. Vest Financial LLC now owns 23,439 shares of the chip maker’s stock worth $470,000 after purchasing an additional 5,949 shares during the period. Finally, Apollon Wealth Management LLC increased its holdings in shares of Intel by 5.6% in the fourth quarter. Apollon Wealth Management LLC now owns 227,009 shares of the chip maker’s stock worth $4,552,000 after purchasing an additional 12,041 shares during the period. 64.53% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on INTC. Rosenblatt Securities reduced their target price on Intel from $18.00 to $14.00 and set a “sell” rating on the stock in a research note on Friday, April 25th. Barclays reaffirmed a “reduce” rating on shares of Intel in a research note on Tuesday, April 22nd. Needham & Company LLC reaffirmed a “hold” rating on shares of Intel in a research note on Friday, April 25th. UBS Group reduced their price objective on Intel from $22.00 to $21.00 and set a “neutral” rating on the stock in a research note on Friday, April 25th. Finally, Citigroup reaffirmed a “sell” rating on shares of Intel in a research note on Friday, April 25th. Six investment analysts have rated the stock with a sell rating, twenty-five have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $21.57.

Intel Stock Up 0.4%

Shares of INTC stock opened at $20.06 on Monday. The stock has a market cap of $87.50 billion, a P/E ratio of -4.58 and a beta of 1.12. Intel Co. has a 52 week low of $17.67 and a 52 week high of $37.16. The company has a quick ratio of 0.98, a current ratio of 1.33 and a debt-to-equity ratio of 0.44. The company’s fifty day simple moving average is $20.39 and its two-hundred day simple moving average is $21.24.

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