Carret Asset Management LLC Sells 32,170 Shares of Intel Corporation (NASDAQ:INTC)

Carret Asset Management LLC cut its stake in Intel Corporation (NASDAQ:INTC - Free Report) by 46.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 36,988 shares of the chip maker's stock after selling 32,170 shares during the quarter. Carret Asset Management LLC's holdings in Intel were worth $840,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Cornerstone Advisory LLC raised its holdings in Intel by 4.3% in the fourth quarter. Cornerstone Advisory LLC now owns 9,863 shares of the chip maker's stock worth $198,000 after purchasing an additional 409 shares in the last quarter. Evergreen Capital Management LLC raised its holdings in Intel by 1.0% in the fourth quarter. Evergreen Capital Management LLC now owns 41,904 shares of the chip maker's stock worth $840,000 after purchasing an additional 419 shares in the last quarter. Federated Hermes Inc. raised its holdings in Intel by 0.3% in the fourth quarter. Federated Hermes Inc. now owns 162,757 shares of the chip maker's stock worth $3,263,000 after purchasing an additional 456 shares in the last quarter. Ausdal Financial Partners Inc. raised its holdings in Intel by 2.0% in the fourth quarter. Ausdal Financial Partners Inc. now owns 24,963 shares of the chip maker's stock worth $501,000 after purchasing an additional 500 shares in the last quarter. Finally, Capital International Sarl raised its holdings in Intel by 4.1% in the fourth quarter. Capital International Sarl now owns 12,971 shares of the chip maker's stock worth $260,000 after purchasing an additional 510 shares in the last quarter. 64.53% of the stock is currently owned by institutional investors.

Intel Price Performance

Shares of NASDAQ INTC opened at $21.08 on Friday. The business's 50 day moving average price is $20.53 and its 200 day moving average price is $21.08. The firm has a market cap of $91.95 billion, a P/E ratio of -4.71 and a beta of 1.12. Intel Corporation has a 52 week low of $17.67 and a 52 week high of $37.16. 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 (NASDAQ:INTC - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The chip maker reported $0.13 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 analyst estimates of $12.26 billion. During the same quarter in the prior year, the firm posted $0.18 EPS. The business's quarterly revenue was down .4% compared to the same quarter last year. On average, sell-side analysts expect that Intel Corporation will post -0.11 earnings per share for the current year.

Wall Street Analyst Weigh In

INTC has been the subject of a number of recent research reports. Barclays reiterated a "reduce" rating on shares of Intel in a report on Tuesday, April 22nd. Needham & Company LLC reiterated a "hold" rating on shares of Intel in a report on Friday, April 25th. Mizuho reduced their target price on shares of Intel from $23.00 to $22.00 and set a "neutral" rating for the company in a report on Friday, April 25th. Benchmark restated a "hold" rating on shares of Intel in a report on Friday, April 25th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Intel in a report on Wednesday, May 21st. They set a "hold" rating and a $23.00 price objective on the stock. Six analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $21.57.

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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