Intel Co. (NASDAQ:INTC) Shares Sold by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC lessened its stake in shares of Intel Co. (NASDAQ:INTC) by 33.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 186,105 shares of the chip maker’s stock after selling 92,926 shares during the period. Exchange Traded Concepts LLC’s holdings in Intel were worth $4,226,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of INTC. Principal Securities Inc. grew its stake in Intel by 19.6% during the 4th quarter. Principal Securities Inc. now owns 40,722 shares of the chip maker’s stock valued at $816,000 after acquiring an additional 6,668 shares in the last quarter. Allworth Financial LP grew its stake in Intel by 9.2% during the 4th quarter. Allworth Financial LP now owns 253,820 shares of the chip maker’s stock valued at $5,549,000 after acquiring an additional 21,425 shares in the last quarter. Strategic Financial Concepts LLC purchased a new stake in Intel during the 4th quarter valued at about $782,000. Csenge Advisory Group grew its stake in Intel by 10.0% during the 4th quarter. Csenge Advisory Group now owns 41,739 shares of the chip maker’s stock valued at $837,000 after acquiring an additional 3,780 shares in the last quarter. Finally, Sierra Ocean LLC purchased a new stake in Intel during the 4th quarter valued at about $36,000. Institutional investors and hedge funds own 64.53% of the company’s stock.

Wall Street Analyst Weigh In

INTC has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Intel in a research note on Wednesday, May 21st. They issued a “hold” rating and a $23.00 price target for the company. Barclays reissued a “reduce” rating on shares of Intel in a research note on Tuesday, April 22nd. Wells Fargo & Company dropped their price target on shares of Intel from $25.00 to $22.00 and set an “equal weight” rating for the company in a research note on Friday, April 25th. Bank of America raised shares of Intel from an “underperform” rating to a “neutral” rating and increased their price target for the company from $19.00 to $25.00 in a research note on Thursday, March 13th. Finally, Wall Street Zen raised shares of Intel from a “sell” rating to a “hold” rating in a research note on Saturday, May 24th. Six investment analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Intel has an average rating of “Hold” and an average target price of $21.57.

Intel Price Performance

Intel stock opened at $20.74 on Tuesday. The firm has a market cap of $90.47 billion, a PE ratio of -4.74 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 50 day moving average is $20.49 and its two-hundred day moving average is $21.10.

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