Janney Montgomery Scott LLC Cuts Holdings in Intel Corporation (NASDAQ:INTC)

Janney Montgomery Scott LLC trimmed its holdings in shares of Intel Corporation (NASDAQ:INTC) by 5.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 560,144 shares of the chip maker’s stock after selling 30,958 shares during the period. Janney Montgomery Scott LLC’s holdings in Intel were worth $12,721,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Vermillion Wealth Management Inc. purchased a new position in shares of Intel during the 4th quarter worth approximately $27,000. Synergy Investment Management LLC purchased a new position in shares of Intel during the 4th quarter worth approximately $27,000. BankPlus Trust Department acquired a new stake in shares of Intel in the 4th quarter worth approximately $28,000. Conquis Financial LLC acquired a new stake in shares of Intel in the 4th quarter worth approximately $32,000. Finally, IMG Wealth Management Inc. acquired a new stake in shares of Intel in the 4th quarter worth approximately $34,000. 64.53% of the stock is owned by hedge funds and other institutional investors.

Intel Price Performance

INTC stock opened at $21.49 on Friday. Intel Corporation has a 52-week low of $17.67 and a 52-week high of $37.16. The stock’s fifty day simple moving average is $20.50 and its 200-day simple moving average is $21.08. 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 price-to-earnings ratio of -4.80 and a beta of 1.12.

Intel (NASDAQ:INTC) last posted its quarterly earnings data on Thursday, April 24th. The chip maker reported $0.13 earnings per share (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 business had revenue of $12.67 billion for the quarter, compared to analysts’ expectations of $12.26 billion. During the same quarter last year, the firm earned $0.18 earnings per share. The business’s revenue was down .4% on a year-over-year basis. Equities research analysts expect that Intel Corporation will post -0.11 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on INTC. Barclays restated a “reduce” rating on shares of Intel in a report on Tuesday, April 22nd. Cfra Research upgraded Intel to a “hold” rating in a report on Friday, April 25th. Wells Fargo & Company lowered their price target on Intel from $25.00 to $22.00 and set an “equal weight” rating on the stock in a report on Friday, April 25th. UBS Group lowered their price target on Intel from $22.00 to $21.00 and set a “neutral” rating on the stock in a report on Friday, April 25th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Intel in a report on Wednesday, May 21st. They issued a “hold” rating and a $23.00 price target on the stock. Six analysts have rated the stock with a sell rating, twenty-five have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, Intel has a consensus rating of “Hold” and an average target price 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.