Empirical Financial Services LLC d.b.a. Empirical Wealth Management Trims Holdings in Intel Corporation (NASDAQ:INTC)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management trimmed its holdings in Intel Corporation (NASDAQ:INTC - Free Report) by 28.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,160 shares of the chip maker's stock after selling 14,318 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management's holdings in Intel were worth $798,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of the business. N.E.W. Advisory Services LLC bought a new stake in shares of Intel during the first quarter valued at approximately $25,000. Vermillion Wealth Management Inc. purchased a new stake in Intel during the 4th quarter valued at $27,000. MJT & Associates Financial Advisory Group Inc. bought a new stake in shares of Intel in the 1st quarter worth $27,000. LFA Lugano Financial Advisors SA purchased a new position in shares of Intel in the first quarter worth $30,000. Finally, Olde Wealth Management LLC bought a new position in shares of Intel during the first quarter valued at $31,000. 64.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on INTC. Benchmark reiterated a "hold" rating on shares of Intel in a report on Friday, July 25th. Wedbush reduced their price target on shares of Intel from $20.00 to $19.00 and set a "neutral" rating for the company in a research note on Wednesday, April 23rd. Susquehanna lowered their price objective on shares of Intel from $24.00 to $22.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 16th. Barclays restated a "reduce" rating on shares of Intel in a report on Tuesday, April 22nd. Finally, Mizuho boosted their target price on shares of Intel from $22.00 to $23.00 and gave the company a "neutral" rating in a research note on Thursday, July 3rd. Six equities research analysts have rated the stock with a sell rating, twenty-six have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $22.30.

Intel Stock Performance

Shares of NASDAQ INTC opened at $19.31 on Friday. The stock has a market cap of $84.52 billion, a PE ratio of -4.05 and a beta of 1.22. Intel Corporation has a 1 year low of $17.67 and a 1 year high of $27.55. The firm has a fifty day moving average price of $21.58 and a 200-day moving average price of $21.51. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.24 and a quick ratio of 0.92.

Intel (NASDAQ:INTC - Get Free Report) last issued its earnings results on Thursday, July 24th. The chip maker reported ($0.10) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.11). The firm had revenue of $12.86 billion during the quarter, compared to the consensus estimate of $11.88 billion. Intel had a negative return on equity of 3.78% and a negative net margin of 38.64%. The company's quarterly revenue was up .5% on a year-over-year basis. During the same period in the prior year, the company posted $0.02 EPS. Equities analysts anticipate that Intel Corporation will post -0.11 earnings per share for the current fiscal year.

Intel 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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