Ethic Inc. Purchases 28,603 Shares of Intel Corporation $INTC

Key Points

• Ethic Inc. increased its stake in Intel Corporation by 8.8% during the first quarter, owning 354,054 shares valued at approximately $7.8 million.
• Several hedge funds modified their holdings in Intel, with Goldman Sachs increasing its stake by 133.3% and Neuberger Berman by an impressive 1,091.1% during the same period.
• Despite an increase in revenue by 0.5% year-over-year, Intel reported a surprising loss with an EPS of (0.10), missing analysts' expectations.

Ethic Inc. increased its stake in Intel Corporation (NASDAQ:INTC - Free Report) by 8.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 354,054 shares of the chip maker's stock after buying an additional 28,603 shares during the quarter. Ethic Inc.'s holdings in Intel were worth $7,807,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. N.E.W. Advisory Services LLC acquired a new stake in Intel during the 1st quarter valued at approximately $25,000. Vermillion Wealth Management Inc. acquired a new stake in Intel during the 4th quarter valued at approximately $27,000. MJT & Associates Financial Advisory Group Inc. acquired a new stake in Intel during the 1st quarter valued at approximately $27,000. LFA Lugano Financial Advisors SA acquired a new position in shares of Intel in the 1st quarter worth approximately $30,000. Finally, Olde Wealth Management LLC acquired a new position in shares of Intel in the 1st quarter worth approximately $31,000. Institutional investors and hedge funds own 64.53% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft assumed coverage on Intel in a research report on Wednesday, May 21st. They issued a "hold" rating and a $23.00 target price for the company. UBS Group raised their price target on Intel from $21.00 to $25.00 and gave the stock a "neutral" rating in a report on Monday, July 14th. JPMorgan Chase & Co. raised their price target on Intel from $20.00 to $21.00 and gave the stock an "underweight" rating in a report on Friday, July 25th. Seaport Res Ptn raised Intel to a "strong sell" rating in a report on Wednesday, April 30th. Finally, Wedbush cut their price target on Intel from $20.00 to $19.00 and set a "neutral" rating on the stock in a report on Wednesday, April 23rd. Six analysts have rated the stock with a sell rating, twenty-three have issued a hold rating and one has given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $22.17.

Intel Stock Performance

Shares of NASDAQ INTC traded up $0.70 during trading hours on Friday, hitting $24.56. 309,327,791 shares of the company's stock were exchanged, compared to its average volume of 116,381,544. Intel Corporation has a 1-year low of $17.67 and a 1-year high of $27.55. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.24 and a quick ratio of 0.92. The stock has a market capitalization of $107.50 billion, a price-to-earnings ratio of -5.15 and a beta of 1.22. The company's 50-day moving average price is $21.81 and its 200-day moving average price is $21.57.

Intel (NASDAQ:INTC - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The chip maker reported ($0.10) EPS 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 analyst estimates of $11.88 billion. Intel had a negative net margin of 38.64% and a negative return on equity of 3.78%. The company's revenue was up .5% on a year-over-year basis. During the same period last year, the company earned $0.02 EPS. On average, sell-side analysts expect 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.