Cobblestone Asset Management LLC Takes $360,000 Position in Intel Corporation (NASDAQ:INTC)

Cobblestone Asset Management LLC purchased a new stake in shares of Intel Corporation (NASDAQ:INTC - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 15,841 shares of the chip maker's stock, valued at approximately $360,000.

A number of other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in Intel by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 369,099,204 shares of the chip maker's stock valued at $7,400,439,000 after acquiring an additional 6,143,164 shares during the period. Geode Capital Management LLC boosted its holdings in Intel by 3.2% during the fourth quarter. Geode Capital Management LLC now owns 95,488,444 shares of the chip maker's stock valued at $1,909,761,000 after acquiring an additional 2,978,346 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Intel by 8.2% during the fourth 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 valued at $1,268,430,000 after acquiring an additional 4,793,927 shares during the period. Norges Bank acquired a new position in shares of Intel during the fourth quarter valued at about $1,246,569,000. Finally, Northern Trust Corp raised its position in shares of Intel by 15.5% during the fourth 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 during the last quarter. 64.53% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

INTC has been the subject of a number of research analyst reports. Seaport Res Ptn raised shares of Intel to a "strong sell" rating in a research report on Wednesday, April 30th. Wall Street Zen raised shares of Intel from a "sell" rating to a "hold" rating in a research report on Saturday, May 24th. 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 for the company. JPMorgan Chase & Co. cut their price objective on shares of Intel from $23.00 to $20.00 and set an "underweight" rating for the company in a research report on Friday, April 25th. Finally, Mizuho cut their price objective on shares of Intel from $23.00 to $22.00 and set a "neutral" rating for the company in a research report on Friday, April 25th. Six investment analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $21.57.

Intel Price Performance

INTC opened at $21.08 on Friday. Intel Corporation has a one year low of $17.67 and a one year high of $37.16. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.31 and a quick ratio of 0.93. The company's 50 day simple moving average is $20.53 and its 200-day simple moving average is $21.08. The stock has a market capitalization of $91.95 billion, a P/E ratio of -4.71 and a beta of 1.12.

Intel (NASDAQ:INTC - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The chip maker reported $0.13 earnings per share 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 for the quarter, compared to analyst estimates of $12.26 billion. During the same period in the prior year, the business posted $0.18 earnings per share. Intel's revenue was down .4% compared to the same quarter last year. Sell-side analysts anticipate 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.

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.