Edgestream Partners L.P. Decreases Stock Position in Intel Corporation (NASDAQ:INTC)

Edgestream Partners L.P. cut its holdings in Intel Corporation (NASDAQ:INTC - Free Report) by 87.4% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,677 shares of the chip maker's stock after selling 205,584 shares during the period. Edgestream Partners L.P.'s holdings in Intel were worth $674,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Norges Bank purchased a new position in Intel in the 4th quarter valued at about $1,246,569,000. Two Sigma Advisers LP purchased a new position in Intel in the 4th quarter valued at about $289,752,000. Two Sigma Investments LP purchased a new position in Intel in the 4th quarter valued at about $237,457,000. Toronto Dominion Bank lifted its holdings in Intel by 286.8% in the 4th quarter. Toronto Dominion Bank now owns 10,529,354 shares of the chip maker's stock valued at $211,114,000 after purchasing an additional 7,806,882 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in Intel by 15.5% in the 4th quarter. Northern Trust Corp now owns 45,811,555 shares of the chip maker's stock valued at $918,522,000 after purchasing an additional 6,157,853 shares in the last quarter. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

Intel Stock Up 1.3%

INTC opened at $23.10 on Friday. The firm has a 50 day moving average price of $21.57 and a 200 day moving average price of $21.41. The company has a market cap of $100.76 billion, a PE ratio of -5.16 and a beta of 1.15. Intel Corporation has a 1 year low of $17.67 and a 1 year high of $33.41. 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 (NASDAQ:INTC - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The chip maker reported $0.13 earnings per share (EPS) 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 company had revenue of $12.67 billion during the quarter, compared to the consensus estimate of $12.26 billion. During the same quarter last year, the company earned $0.18 earnings per share. Intel's revenue for the quarter was down .4% on a year-over-year basis. 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 topic of a number of recent research reports. Cantor Fitzgerald reduced their target price on shares of Intel from $29.00 to $20.00 and set a "neutral" rating on the stock in a report on Monday, April 21st. Seaport Res Ptn upgraded shares of Intel to a "strong sell" rating in a report on Wednesday, April 30th. Sanford C. Bernstein reduced their target price on shares of Intel from $25.00 to $21.00 and set a "market perform" rating on the stock in a report on Tuesday, April 22nd. Morgan Stanley reduced their target price on shares of Intel from $25.00 to $23.00 and set an "equal weight" rating on the stock in a report on Friday, April 25th. Finally, Benchmark restated a "hold" rating on shares of Intel in a report on Friday, April 25th. Five investment analysts have rated the stock with a sell rating, twenty-six have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $21.95.

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.

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