Auto Owners Insurance Co Sells 130,408 Shares of Intel Corporation (NASDAQ:INTC)

Auto Owners Insurance Co decreased its position in Intel Corporation (NASDAQ:INTC - Free Report) by 24.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 395,100 shares of the chip maker's stock after selling 130,408 shares during the period. Auto Owners Insurance Co's holdings in Intel were worth $8,973,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. Vermillion Wealth Management Inc. purchased a new stake in Intel during the 4th quarter valued at approximately $27,000. LFA Lugano Financial Advisors SA bought a new stake in Intel in the first quarter worth $30,000. Olde Wealth Management LLC bought a new stake in Intel in the first quarter worth $31,000. Conquis Financial LLC bought a new stake in Intel in the fourth quarter worth $32,000. Finally, Mizuho Securities Co. Ltd. bought a new stake in Intel in the first quarter worth $32,000. Hedge funds and other institutional investors own 64.53% of the company's stock.

Intel Price Performance

Shares of INTC stock opened at $23.24 on Wednesday. The firm has a market capitalization of $101.37 billion, a price-to-earnings ratio of -5.19 and a beta of 1.15. The company has a quick ratio of 0.93, a current ratio of 1.31 and a debt-to-equity ratio of 0.42. Intel Corporation has a 12-month low of $17.67 and a 12-month high of $33.23. The firm has a fifty day moving average of $21.57 and a 200-day moving average of $21.42.

Intel (NASDAQ:INTC - Get Free Report) last issued its earnings results on Thursday, April 24th. The chip maker reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.12. Intel had a negative net margin of 36.19% and a negative return on equity of 3.15%. The business had revenue of $12.67 billion during the quarter, compared to the consensus estimate of $12.26 billion. During the same period last year, the business posted $0.18 EPS. Intel's revenue was down .4% on a year-over-year basis. On average, equities research analysts forecast that Intel Corporation will post -0.11 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Cantor Fitzgerald decreased their target price on Intel from $29.00 to $20.00 and set a "neutral" rating for the company in a research report on Monday, April 21st. Rosenblatt Securities cut their target price on Intel from $18.00 to $14.00 and set a "sell" rating on the stock in a research note on Friday, April 25th. Wells Fargo & Company dropped their price target on Intel from $25.00 to $22.00 and set an "equal weight" rating on the stock in a research note on Friday, April 25th. Loop Capital initiated coverage on Intel in a report on Monday. They set a "hold" rating and a $25.00 target price for the company. Finally, Susquehanna decreased their target price on Intel from $24.00 to $22.00 and set a "neutral" rating for the company in a report on Wednesday, April 16th. Five research analysts have rated the stock with a sell rating, twenty-seven have assigned a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $22.25.

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.

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