Entropy Technologies LP Cuts Stock Position in Intel Corporation (NASDAQ:INTC)

Key Points

• Entropy Technologies LP has reduced its stake in Intel Corporation by 76.6%, selling 225,138 shares and now holding 68,652 shares valued at $1,559,000.
• Analysts have downgraded Intel's stock price targets, with Morgan Stanley and Sanford C. Bernstein lowering their targets to $23.00 and $21.00 respectively, while the consensus rating remains a "Hold."
• In its latest earnings report, Intel missed EPS estimates, reporting ($0.10) against a consensus of $0.01, despite revenue exceeding expectations at $12.86 billion.

Entropy Technologies LP cut its holdings in shares of Intel Corporation (NASDAQ:INTC - Free Report) by 76.6% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 68,652 shares of the chip maker's stock after selling 225,138 shares during the period. Entropy Technologies LP's holdings in Intel were worth $1,559,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of INTC. Cornerstone Advisory LLC grew its position in Intel by 4.3% in the fourth quarter. Cornerstone Advisory LLC now owns 9,863 shares of the chip maker's stock worth $198,000 after buying an additional 409 shares during the last quarter. Evergreen Capital Management LLC grew its holdings in shares of Intel by 1.0% in the 4th quarter. Evergreen Capital Management LLC now owns 41,904 shares of the chip maker's stock worth $840,000 after acquiring an additional 419 shares during the last quarter. Federated Hermes Inc. raised its position in shares of Intel by 0.3% during the fourth quarter. Federated Hermes Inc. now owns 162,757 shares of the chip maker's stock worth $3,263,000 after purchasing an additional 456 shares during the period. Verdence Capital Advisors LLC raised its position in shares of Intel by 1.1% during the first quarter. Verdence Capital Advisors LLC now owns 45,682 shares of the chip maker's stock worth $1,037,000 after purchasing an additional 486 shares during the period. Finally, Cary Street Partners Investment Advisory LLC lifted its holdings in shares of Intel by 23.1% during the first quarter. Cary Street Partners Investment Advisory LLC now owns 2,614 shares of the chip maker's stock valued at $59,000 after purchasing an additional 491 shares during the last quarter. Hedge funds and other institutional investors own 64.53% of the company's stock.

Intel Stock Up 1.9%

Intel stock traded up $0.41 during midday trading on Wednesday, hitting $22.22. 85,714,031 shares of the stock were exchanged, compared to its average volume of 94,297,484. 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 stock has a market capitalization of $97.26 billion, a price-to-earnings ratio of -4.66 and a beta of 1.22. Intel Corporation has a 52-week low of $17.67 and a 52-week high of $27.55. The business's 50-day moving average price is $21.61 and its 200-day moving average price is $21.48.

Intel (NASDAQ:INTC - Get Free Report) last announced its quarterly 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 business had revenue of $12.86 billion for the quarter, compared to analysts' expectations of $11.88 billion. During the same quarter in the previous year, the company posted $0.02 earnings per share. The business's quarterly revenue was up .5% compared to the same quarter last year. On average, research analysts expect that Intel Corporation will post -0.11 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on INTC shares. Wells Fargo & Company dropped their price objective on Intel from $25.00 to $22.00 and set an "equal weight" rating on the stock in a report on Friday, April 25th. Sanford C. Bernstein reduced 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 note on Tuesday, April 22nd. Cantor Fitzgerald decreased their target price on Intel from $29.00 to $20.00 and set a "neutral" rating for the company in a research note on Monday, April 21st. Seaport Res Ptn upgraded shares of Intel to a "strong sell" rating in a research note on Wednesday, April 30th. Finally, Rosenblatt Securities restated a "sell" rating and issued a $14.00 target price on shares of Intel in a research note on Friday, July 25th. Six equities 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 stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $22.17.

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.