Commonwealth Equity Services LLC Lowers Holdings in Intel Corporation (NASDAQ:INTC)

Key Points

• Commonwealth Equity Services LLC reduced its stake in Intel Corporation by 1.4%, selling 19,385 shares, while still holding 1,363,328 shares valued at approximately $30.96 million.
• Intel posted a loss of ($0.10) earnings per share for the quarter, missing expectations, but its revenue increased by 0.5% year-over-year to $12.86 billion.
• Institutional investors now hold 64.53% of Intel's stock, and the company has been rated mostly as "Hold" by analysts, with an average target price of $22.17.

Commonwealth Equity Services LLC cut its stake in Intel Corporation (NASDAQ:INTC - Free Report) by 1.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,363,328 shares of the chip maker's stock after selling 19,385 shares during the period. Commonwealth Equity Services LLC's holdings in Intel were worth $30,961,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of INTC. N.E.W. Advisory Services LLC purchased a new stake in Intel in the first quarter valued at approximately $25,000. Vermillion Wealth Management Inc. purchased a new stake in shares of Intel during the 4th quarter valued at $27,000. MJT & Associates Financial Advisory Group Inc. acquired a new stake in shares of Intel during the 1st quarter worth $27,000. LFA Lugano Financial Advisors SA acquired a new position in Intel in the first quarter valued at $30,000. Finally, Olde Wealth Management LLC purchased a new stake in Intel during the first quarter valued at about $31,000. Hedge funds and other institutional investors own 64.53% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on INTC shares. Deutsche Bank Aktiengesellschaft assumed coverage on Intel in a report on Wednesday, May 21st. They issued a "hold" rating and a $23.00 price objective on the stock. Sanford C. Bernstein lowered their price objective on shares of Intel from $25.00 to $21.00 and set a "market perform" rating for the company in a research report on Tuesday, April 22nd. Wedbush reduced their target price on shares of Intel from $20.00 to $19.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 23rd. Stifel Nicolaus raised their price target on shares of Intel from $21.00 to $24.50 and gave the company a "hold" rating in a report on Monday, July 21st. Finally, Barclays reaffirmed a "reduce" rating on shares of Intel in a research note on Tuesday, April 22nd. Six research analysts have rated the stock with a sell rating, twenty-three have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Intel has a consensus rating of "Hold" and a consensus price target of $22.17.

Intel Trading Down 3.1%

INTC traded down $0.64 during trading hours on Thursday, reaching $19.77. 130,806,454 shares of the company's stock traded hands, compared to its average volume of 80,674,712. The company has a quick ratio of 0.92, a current ratio of 1.24 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $86.53 billion, a PE ratio of -4.14 and a beta of 1.22. The firm has a 50-day moving average price of $21.56 and a 200 day moving average price of $21.51. Intel Corporation has a 52-week low of $17.67 and a 52-week high of $27.55.

Intel (NASDAQ:INTC - Get Free Report) last posted its earnings results on Thursday, July 24th. The chip maker reported ($0.10) EPS 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 firm had revenue of $12.86 billion for the quarter, compared to analysts' expectations of $11.88 billion. During the same period in the previous year, the company earned $0.02 EPS. The company's revenue was up .5% on a year-over-year basis. As a group, sell-side analysts predict that Intel Corporation will post -0.11 EPS 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.