Envestnet Asset Management Inc. Has $21.66 Million Stock Position in Intel Corporation (NASDAQ:INTC)

Envestnet Asset Management Inc. increased its position in shares of Intel Corporation (NASDAQ:INTC - Free Report) by 19.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 953,590 shares of the chip maker's stock after purchasing an additional 156,845 shares during the period. Envestnet Asset Management Inc.'s holdings in Intel were worth $21,656,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vermillion Wealth Management Inc. purchased a new position in shares of Intel in the fourth quarter valued at approximately $27,000. LFA Lugano Financial Advisors SA acquired a new stake in Intel in the first quarter valued at approximately $30,000. Olde Wealth Management LLC acquired a new stake in Intel in the first quarter valued at approximately $31,000. Conquis Financial LLC acquired a new stake in Intel in the fourth quarter valued at approximately $32,000. Finally, Mizuho Securities Co. Ltd. acquired a new stake in Intel in the first quarter valued at approximately $32,000. 64.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Susquehanna cut their target price on shares of Intel from $24.00 to $22.00 and set a "neutral" rating on the stock in a report on Wednesday, April 16th. Needham & Company LLC reaffirmed a "hold" rating on shares of Intel in a report on Friday, April 25th. Citigroup reaffirmed a "hold" rating on shares of Intel in a report on Tuesday, July 8th. Benchmark reaffirmed a "hold" rating on shares of Intel in a report on Friday, April 25th. Finally, Cfra Research raised shares of Intel to a "hold" rating in a report on Friday, April 25th. Five investment analysts have rated the stock with a sell rating, twenty-six have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat, Intel currently has an average rating of "Hold" and an average price target of $21.95.

Intel Trading Up 1.3%

Shares of NASDAQ:INTC traded up $0.30 during trading on Friday, reaching $23.10. 60,111,927 shares of the stock were exchanged, compared to its average volume of 86,198,686. The firm has a market cap of $100.76 billion, a price-to-earnings ratio of -5.16 and a beta of 1.15. Intel Corporation has a 12-month low of $17.67 and a 12-month high of $34.58. The firm's 50-day moving average price is $21.57 and its 200 day moving average price is $21.40. 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 released its earnings results on Thursday, April 24th. The chip maker reported $0.13 EPS for the quarter, beating the consensus estimate of $0.01 by $0.12. The company had revenue of $12.67 billion during the quarter, compared to analysts' expectations of $12.26 billion. Intel had a negative return on equity of 3.15% and a negative net margin of 36.19%. The business's revenue was down .4% on a year-over-year basis. During the same period in the prior year, the business posted $0.18 EPS. On average, sell-side analysts anticipate that Intel Corporation will post -0.11 earnings per share 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.