Exchange Traded Concepts LLC Sells 92,926 Shares of Intel Corporation (NASDAQ:INTC)

Exchange Traded Concepts LLC decreased its stake in shares of Intel Corporation (NASDAQ:INTC - Free Report) by 33.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 186,105 shares of the chip maker's stock after selling 92,926 shares during the period. Exchange Traded Concepts LLC's holdings in Intel were worth $4,226,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Freestone Grove Partners LP bought a new stake in Intel in the 4th quarter valued at about $62,654,000. Clifford Swan Investment Counsel LLC boosted its stake in shares of Intel by 1.9% in the fourth quarter. Clifford Swan Investment Counsel LLC now owns 819,532 shares of the chip maker's stock valued at $16,432,000 after buying an additional 15,214 shares during the period. Toronto Dominion Bank boosted its stake in shares of Intel by 286.8% in the fourth quarter. Toronto Dominion Bank now owns 10,529,354 shares of the chip maker's stock valued at $211,114,000 after buying an additional 7,806,882 shares during the period. 180 Wealth Advisors LLC boosted its stake in shares of Intel by 124.9% in the first quarter. 180 Wealth Advisors LLC now owns 127,916 shares of the chip maker's stock valued at $2,905,000 after buying an additional 71,049 shares during the period. Finally, Alteri Wealth LLC bought a new stake in shares of Intel in the fourth quarter valued at approximately $2,379,000. Institutional investors own 64.53% of the company's stock.

Intel Trading Up 3.3%

Shares of INTC stock traded up $0.69 during trading hours on Wednesday, hitting $21.49. 94,046,448 shares of the company's stock traded hands, compared to its average volume of 84,103,641. The stock's 50 day simple moving average is $20.47 and its 200 day simple moving average is $21.10. The stock has a market cap of $93.74 billion, a PE ratio of -4.80 and a beta of 1.12. Intel Corporation has a 12 month low of $17.67 and a 12 month high of $37.16. The company has a quick ratio of 0.93, a current ratio of 1.31 and a debt-to-equity ratio of 0.42.

Intel (NASDAQ:INTC - Get Free Report) last announced its earnings results on Thursday, April 24th. The chip maker reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.12. The business had revenue of $12.67 billion during the quarter, compared to analyst estimates of $12.26 billion. Intel had a negative return on equity of 3.15% and a negative net margin of 36.19%. Intel's revenue for the quarter was down .4% compared to the same quarter last year. During the same period last year, the company earned $0.18 EPS. On average, sell-side analysts anticipate that Intel Corporation will post -0.11 EPS for the current year.

Analyst Ratings Changes

A number of research firms have recently weighed in on INTC. Rosenblatt Securities cut their target price on Intel from $18.00 to $14.00 and set a "sell" rating for the company in a research report on Friday, April 25th. Cantor Fitzgerald cut their price objective on shares of Intel from $29.00 to $20.00 and set a "neutral" rating for the company in a research report on Monday, April 21st. Seaport Res Ptn raised shares of Intel to a "strong sell" rating in a research report on Wednesday, April 30th. Cfra Research raised shares of Intel to a "hold" rating in a report on Friday, April 25th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Intel in a report on Wednesday, May 21st. They set a "hold" rating and a $23.00 price target for the company. Six investment analysts have rated the stock with a sell rating, twenty-five have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $21.57.

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.