Corundum Group Inc. Buys New Stake in Intel Corporation (NASDAQ:INTC)

Corundum Group Inc. acquired a new stake in shares of Intel Corporation (NASDAQ:INTC - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 26,398 shares of the chip maker's stock, valued at approximately $599,000.

A number of other hedge funds have also recently modified their holdings of INTC. Synergy Investment Management LLC bought a new stake in Intel in the fourth quarter worth $27,000. Vermillion Wealth Management Inc. bought a new position in Intel in the 4th quarter worth about $27,000. BankPlus Trust Department purchased a new stake in Intel during the 4th quarter valued at about $28,000. Conquis Financial LLC bought a new stake in Intel during the 4th quarter valued at about $32,000. Finally, Mizuho Securities Co. Ltd. purchased a new position in Intel in the first quarter worth about $32,000. Institutional investors own 64.53% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on INTC shares. Cfra Research upgraded shares of Intel to a "hold" rating in a report on Friday, April 25th. Rosenblatt Securities decreased their price target on Intel from $18.00 to $14.00 and set a "sell" rating for the company in a research note on Friday, April 25th. Mizuho dropped their price objective on Intel from $23.00 to $22.00 and set a "neutral" rating on the stock in a research report on Friday, April 25th. Needham & Company LLC reissued a "hold" rating on shares of Intel in a research report on Friday, April 25th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Intel from $23.00 to $20.00 and set an "underweight" rating on the stock in a research note on Friday, April 25th. Six analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat.com, Intel currently has a consensus rating of "Hold" and an average target price of $21.57.

Intel Price Performance

Shares of NASDAQ INTC traded up $0.30 during mid-day trading on Thursday, reaching $22.50. The company's stock had a trading volume of 63,083,370 shares, compared to its average volume of 85,048,776. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.31 and a quick ratio of 0.93. Intel Corporation has a 52 week low of $17.67 and a 52 week high of $37.16. The stock has a fifty day moving average of $20.66 and a two-hundred day moving average of $21.09. The firm has a market capitalization of $98.15 billion, a PE ratio of -5.02 and a beta of 1.12.

Intel (NASDAQ:INTC - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The chip maker reported $0.13 EPS for the quarter, topping analysts' consensus estimates 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 company had revenue of $12.67 billion for the quarter, compared to analysts' expectations of $12.26 billion. During the same period in the previous year, the firm earned $0.18 EPS. The firm's revenue was down .4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Intel Corporation will post -0.11 EPS for the current fiscal year.

About Intel

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.