Azimuth Capital Investment Management LLC Has $1.68 Million Holdings in Intel Corporation $INTC

Key Points

• Azimuth Capital Investment Management LLC has decreased its holdings in **Intel Corporation** by **22.6%**, owning 73,955 shares valued at **$1,680,000** after selling 21,550 shares.
• Despite the reduction in some stakes, other investors like Toronto Dominion Bank have significantly increased their investment in Intel by **286.8%**, reflecting mixed sentiment among institutional investors.
• Intel reported a loss of **($0.10) earnings per share**, falling short of analyst expectations, but its quarterly revenue increased **0.5%** year-over-year, amounting to **$12.86 billion**.

Azimuth Capital Investment Management LLC reduced its position in shares of Intel Corporation (NASDAQ:INTC - Free Report) by 22.6% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 73,955 shares of the chip maker's stock after selling 21,550 shares during the quarter. Azimuth Capital Investment Management LLC's holdings in Intel were worth $1,680,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in INTC. Vanguard Group Inc. lifted its position in shares of Intel by 2.2% during the first quarter. Vanguard Group Inc. now owns 377,390,437 shares of the chip maker's stock worth $8,570,537,000 after purchasing an additional 8,291,233 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Intel by 8.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 63,263,339 shares of the chip maker's stock worth $1,268,430,000 after purchasing an additional 4,793,927 shares during the period. Northern Trust Corp lifted its position in shares of Intel by 15.5% during the 4th quarter. Northern Trust Corp now owns 45,811,555 shares of the chip maker's stock valued at $918,522,000 after buying an additional 6,157,853 shares in the last quarter. Invesco Ltd. lifted its holdings in Intel by 1.3% in the 1st quarter. Invesco Ltd. now owns 43,651,076 shares of the chip maker's stock valued at $991,316,000 after purchasing an additional 562,246 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Intel by 3.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 35,025,596 shares of the chip maker's stock worth $795,431,000 after acquiring an additional 1,086,836 shares during the last quarter. 64.53% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

INTC has been the subject of several recent research reports. Cantor Fitzgerald decreased their price objective on Intel from $29.00 to $20.00 and set a "neutral" rating for the company in a research note on Monday, April 21st. Sanford C. Bernstein reduced their price objective on Intel from $25.00 to $21.00 and set a "market perform" rating on the stock in a research report on Tuesday, April 22nd. Deutsche Bank Aktiengesellschaft started coverage on Intel in a report on Wednesday, May 21st. They issued a "hold" rating and a $23.00 price objective on the stock. Cfra Research upgraded Intel to a "hold" rating in a research note on Friday, April 25th. Finally, Morgan Stanley reduced their price objective on Intel from $25.00 to $23.00 and set an "equal weight" rating for the company in a research report on Friday, April 25th. Six investment analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $22.17.

Intel Trading Up 2.9%

INTC stock traded up $0.70 during midday trading on Friday, reaching $24.56. 309,327,791 shares of the company traded hands, compared to its average volume of 116,381,544. Intel Corporation has a 52-week low of $17.67 and a 52-week high of $27.55. The firm has a market capitalization of $107.50 billion, a price-to-earnings ratio of -5.15 and a beta of 1.22. The business has a 50 day moving average of $21.81 and a 200-day moving average of $21.57. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.92 and a current ratio of 1.24.

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 the consensus estimate of $0.01 by ($0.11). Intel had a negative return on equity of 3.78% and a negative net margin of 38.64%. The business had revenue of $12.86 billion during the quarter, compared to analysts' expectations of $11.88 billion. During the same quarter in the previous year, the company posted $0.02 earnings per share. The company's revenue was up .5% on a year-over-year basis. As a group, sell-side analysts expect that Intel Corporation will post -0.11 earnings per share for the current fiscal year.

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.