Intel Co. (NASDAQ:INTC) Stake Lowered by Procyon Advisors LLC

Procyon Advisors LLC reduced its stake in shares of Intel Co. (NASDAQ:INTC) by 15.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,571 shares of the chip maker’s stock after selling 3,673 shares during the quarter. Procyon Advisors LLC’s holdings in Intel were worth $444,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in INTC. Next Level Private LLC increased its holdings in shares of Intel by 2.8% during the first quarter. Next Level Private LLC now owns 20,811 shares of the chip maker’s stock valued at $473,000 after purchasing an additional 570 shares during the period. Intellectus Partners LLC acquired a new position in Intel during the 1st quarter valued at about $332,000. Curat Global LLC bought a new stake in shares of Intel during the 1st quarter worth about $321,000. Generali Investments Management Co LLC lifted its stake in shares of Intel by 447.8% in the 1st quarter. Generali Investments Management Co LLC now owns 33,394 shares of the chip maker’s stock worth $758,000 after acquiring an additional 27,298 shares during the period. Finally, ACT Wealth Management LLC bought a new position in shares of Intel in the first quarter valued at approximately $204,000. 64.53% of the stock is owned by institutional investors and hedge funds.

Intel Price Performance

NASDAQ INTC opened at $20.06 on Monday. Intel Co. has a fifty-two week low of $17.67 and a fifty-two week high of $37.16. The stock’s 50-day moving average is $20.39 and its two-hundred day moving average is $21.24. The firm has a market cap of $87.50 billion, a P/E ratio of -4.58 and a beta of 1.12. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.33 and a quick ratio of 0.98.

Intel (NASDAQ:INTC) last announced 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. Intel had a negative return on equity of 3.27% and a negative net margin of 35.32%. The firm had revenue of $12.67 billion during the quarter, compared to analysts’ expectations of $12.26 billion. During the same quarter in the prior year, the business earned $0.18 earnings per share. The company’s revenue was down .4% on a year-over-year basis. On average, analysts anticipate that Intel Co. will post -0.11 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on INTC shares. Rosenblatt Securities cut their price objective on Intel from $18.00 to $14.00 and set a “sell” rating for the company in a report on Friday, April 25th. Mizuho reduced their price objective on shares of Intel from $23.00 to $22.00 and set a “neutral” rating for the company in a research report on Friday, April 25th. Needham & Company LLC reaffirmed a “hold” rating on shares of Intel in a research note on Friday, April 25th. Benchmark reissued a “hold” rating on shares of Intel in a research note on Friday, April 25th. Finally, Barclays restated a “reduce” rating on shares of Intel in a research report on Tuesday, April 22nd. Six equities research 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. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $21.57.

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.