Carnegie Investment Counsel Invests $361,000 in Intel Corporation (NASDAQ:INTC)

Key Points

• Carnegie Investment Counsel invested approximately $361,000 in Intel Corporation (NASDAQ: INTC) by acquiring 15,887 shares during the 1st quarter.
• Multiple hedge funds, including Geode Capital Management and UBS Asset Management, have increased their stakes in Intel, resulting in 64.53% of the company's stock being owned by institutional investors.
• Intel reported a loss of ($0.10) earnings per share last quarter, missing consensus estimates, while revenue reached $12.86 billion, up from the previous year.

Carnegie Investment Counsel acquired a new position in Intel Corporation (NASDAQ:INTC - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 15,887 shares of the chip maker's stock, valued at approximately $361,000.

Several other hedge funds have also recently made changes to their positions in INTC. Geode Capital Management LLC boosted its position in shares of Intel by 3.2% during the 4th quarter. Geode Capital Management LLC now owns 95,488,444 shares of the chip maker's stock worth $1,909,761,000 after purchasing an additional 2,978,346 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position 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 in the last quarter. Northern Trust Corp boosted 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 worth $918,522,000 after purchasing an additional 6,157,853 shares in the last quarter. Invesco Ltd. boosted its position in shares of Intel by 9.4% during the 4th quarter. Invesco Ltd. now owns 43,088,830 shares of the chip maker's stock worth $863,931,000 after purchasing an additional 3,696,377 shares in the last quarter. Finally, Deutsche Bank AG boosted its position in shares of Intel by 14.1% during the 4th quarter. Deutsche Bank AG now owns 24,030,097 shares of the chip maker's stock worth $481,803,000 after purchasing an additional 2,965,308 shares in the last quarter. 64.53% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

INTC has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Intel in a research report on Wednesday, May 21st. They set a "hold" rating and a $23.00 price objective on the stock. Benchmark reissued a "hold" rating on shares of Intel in a research report on Friday. Barclays reissued a "reduce" rating on shares of Intel in a research report on Tuesday, April 22nd. Rosenblatt Securities restated a "sell" rating and issued a $14.00 target price on shares of Intel in a report on Friday. Finally, JPMorgan Chase & Co. upped their target price on shares of Intel from $20.00 to $21.00 and gave the stock an "underweight" rating in a report on Friday. Six equities research analysts have rated the stock with a sell rating, twenty-six have issued a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $22.30.

Intel Stock Performance

NASDAQ INTC opened at $20.70 on Friday. The company has a market capitalization of $90.29 billion, a PE ratio of -4.34 and a beta of 1.15. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.93 and a current ratio of 1.31. Intel Corporation has a 52-week low of $17.67 and a 52-week high of $31.56. The company has a 50-day simple moving average of $21.64 and a 200 day simple moving average of $21.50.

Intel (NASDAQ:INTC - Get Free Report) last released its earnings results 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 net margin of 38.64% and a negative return on equity of 3.78%. The company had revenue of $12.86 billion for the quarter, compared to the consensus estimate of $11.88 billion. During the same period in the prior year, the company earned $0.02 earnings per share. The firm's revenue was up .5% on a year-over-year basis. On average, research analysts predict that Intel Corporation will post -0.11 EPS for the current 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.

Want to see what other hedge funds are holding INTC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Intel Corporation (NASDAQ:INTC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.