AE Wealth Management LLC Sells 165,796 Shares of Intel Corporation (NASDAQ:INTC)

AE Wealth Management LLC trimmed its stake in shares of Intel Corporation (NASDAQ:INTC - Free Report) by 25.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 490,579 shares of the chip maker's stock after selling 165,796 shares during the quarter. AE Wealth Management LLC's holdings in Intel were worth $11,141,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Intel in the 4th quarter worth about $1,246,569,000. Two Sigma Advisers LP acquired a new stake in shares of Intel in the 4th quarter worth about $289,752,000. Two Sigma Investments LP acquired a new stake in shares of Intel in the 4th quarter worth about $237,457,000. Toronto Dominion Bank increased its holdings in shares of Intel by 286.8% in the 4th quarter. Toronto Dominion Bank now owns 10,529,354 shares of the chip maker's stock worth $211,114,000 after acquiring an additional 7,806,882 shares during the period. Finally, OVERSEA CHINESE BANKING Corp Ltd increased its holdings in shares of Intel by 1,180.8% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 7,209,637 shares of the chip maker's stock worth $163,731,000 after acquiring an additional 6,646,727 shares during the period. 64.53% of the stock is currently owned by institutional investors.

Intel Stock Down 8.5%

NASDAQ INTC traded down $1.93 during trading on Friday, reaching $20.70. The company's stock had a trading volume of 244,366,959 shares, compared to its average volume of 93,991,664. The company has a current ratio of 1.31, a quick ratio of 0.93 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $90.29 billion, a PE ratio of -4.62 and a beta of 1.15. The business has a 50-day moving average price of $21.66 and a 200-day moving average price of $21.49. Intel Corporation has a 1-year low of $17.67 and a 1-year high of $31.56.

Intel (NASDAQ:INTC - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The chip maker reported ($0.10) earnings per share for the quarter, missing analysts' consensus estimates of $0.01 by ($0.11). Intel had a negative return on equity of 3.15% and a negative net margin of 36.19%. The firm had revenue of $12.86 billion during the quarter, compared to analyst estimates of $11.88 billion. During the same quarter in the previous year, the firm posted $0.02 earnings per share. Intel's quarterly revenue was up .5% compared to the same quarter last year. On average, research analysts forecast that Intel Corporation will post -0.11 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Cantor Fitzgerald dropped their price objective on shares of Intel from $29.00 to $20.00 and set a "neutral" rating on the stock in a report on Monday, April 21st. Loop Capital initiated coverage on shares of Intel in a report on Monday. They issued a "hold" rating and a $25.00 price objective on the stock. Wedbush lowered their target price on shares of Intel from $20.00 to $19.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 23rd. Cfra Research raised shares of Intel to a "hold" rating in a research note on Friday, April 25th. Finally, Stifel Nicolaus raised their target price on shares of Intel from $21.00 to $24.50 and gave the company a "hold" rating in a research note on Monday. Five investment analysts have rated the stock with a sell rating, twenty-seven have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $22.30.

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.