Formidable Asset Management LLC Has $1.12 Million Holdings in Intel Corporation (NASDAQ:INTC)

Formidable Asset Management LLC lifted its holdings in shares of Intel Corporation (NASDAQ:INTC - Free Report) by 71.6% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 49,443 shares of the chip maker's stock after buying an additional 20,633 shares during the period. Formidable Asset Management LLC's holdings in Intel were worth $1,123,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. LFA Lugano Financial Advisors SA acquired a new stake in shares of Intel in the 1st quarter worth approximately $30,000. Vermillion Wealth Management Inc. acquired a new stake in Intel during the fourth quarter valued at approximately $27,000. Mizuho Securities Co. Ltd. acquired a new stake in Intel during the first quarter valued at approximately $32,000. Olde Wealth Management LLC acquired a new stake in Intel during the first quarter valued at approximately $31,000. Finally, EQ Wealth Advisors LLC purchased a new stake in shares of Intel in the 1st quarter valued at approximately $33,000. Institutional investors own 64.53% of the company's stock.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Morgan Stanley dropped their price objective on shares of Intel from $25.00 to $23.00 and set an "equal weight" rating on the stock in a research note on Friday, April 25th. Cfra Research upgraded shares of Intel to a "hold" rating in a research note on Friday, April 25th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Intel in a report on Wednesday, May 21st. They issued a "hold" rating and a $23.00 price target for the company. Barclays reaffirmed a "reduce" rating on shares of Intel in a report on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Intel from $23.00 to $20.00 and set an "underweight" rating for the company in a report on Friday, April 25th. Five analysts have rated the stock with a sell rating, twenty-six have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $21.95.

Intel Stock Up 1.3%

INTC traded up $0.30 during trading on Friday, reaching $23.10. The company had a trading volume of 60,111,927 shares, compared to its average volume of 86,265,232. The business's fifty 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 current ratio of 1.31 and a quick ratio of 0.93. The company has a market cap of $100.76 billion, a P/E 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 $33.41.

Intel (NASDAQ:INTC - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The chip maker reported $0.13 EPS for the quarter, beating the consensus estimate of $0.01 by $0.12. Intel had a negative net margin of 36.19% and a negative return on equity of 3.15%. The firm had revenue of $12.67 billion for the quarter, compared to the consensus estimate of $12.26 billion. During the same period in the previous year, the company earned $0.18 earnings per share. The company's quarterly revenue was down .4% on a year-over-year basis. Equities analysts anticipate that Intel Corporation will post -0.11 EPS for the current year.

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.