Ritholtz Wealth Management Purchases 6,162 Shares of Intel Corporation (NASDAQ:INTC)

Ritholtz Wealth Management grew its holdings in shares of Intel Corporation (NASDAQ:INTC) by 31.1% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 25,946 shares of the chip maker’s stock after purchasing an additional 6,162 shares during the quarter. Ritholtz Wealth Management’s holdings in Intel were worth $589,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Norges Bank bought a new stake in shares of Intel during the 4th quarter valued at $1,246,569,000. Two Sigma Advisers LP bought a new stake in Intel during the fourth quarter valued at about $289,752,000. Two Sigma Investments LP bought a new stake in Intel during the fourth quarter valued at about $237,457,000. Toronto Dominion Bank increased its position in Intel by 286.8% in the fourth quarter. Toronto Dominion Bank now owns 10,529,354 shares of the chip maker’s stock worth $211,114,000 after buying an additional 7,806,882 shares in the last quarter. Finally, Northern Trust Corp raised its stake in shares of Intel by 15.5% in the fourth quarter. Northern Trust Corp now owns 45,811,555 shares of the chip maker’s stock worth $918,522,000 after buying an additional 6,157,853 shares during the period. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Intel Stock Performance

Shares of NASDAQ:INTC opened at $21.49 on Thursday. The firm has a fifty day simple moving average of $20.47 and a two-hundred day simple moving average of $21.10. Intel Corporation has a 52 week low of $17.67 and a 52 week 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 stock has a market capitalization of $93.74 billion, a P/E ratio of -4.80 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 EPS for the quarter, topping the consensus estimate of $0.01 by $0.12. Intel had a negative return on equity of 3.15% and a negative net margin of 36.19%. The company had revenue of $12.67 billion during the quarter, compared to analyst estimates of $12.26 billion. During the same quarter last year, the business posted $0.18 earnings per share. The firm’s revenue was down .4% on a year-over-year basis. On average, analysts expect that Intel Corporation will post -0.11 earnings per share for the current fiscal year.

Analysts Set New Price Targets

INTC has been the subject of a number of recent research reports. UBS Group cut their price objective on Intel from $22.00 to $21.00 and set a “neutral” rating for the company in a research note on Friday, April 25th. Bank of America upgraded shares of Intel from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $19.00 to $25.00 in a research report on Thursday, March 13th. Wedbush decreased their price objective on shares of Intel from $20.00 to $19.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 23rd. Morgan Stanley lowered their target price on shares of Intel from $25.00 to $23.00 and set an “equal weight” rating on the stock in a research note on Friday, April 25th. Finally, Benchmark reiterated a “hold” 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 issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $21.57.

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.