Forum Financial Management LP Decreases Stake in Intel Corporation (NASDAQ:INTC)

Forum Financial Management LP reduced its stake in Intel Corporation (NASDAQ:INTC - Free Report) by 22.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,613 shares of the chip maker's stock after selling 18,286 shares during the period. Forum Financial Management LP's holdings in Intel were worth $1,445,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of INTC. Cornerstone Advisory LLC grew its stake in shares of Intel by 4.3% in the fourth quarter. Cornerstone Advisory LLC now owns 9,863 shares of the chip maker's stock valued at $198,000 after buying an additional 409 shares in the last quarter. Evergreen Capital Management LLC increased its stake in Intel by 1.0% during the fourth quarter. Evergreen Capital Management LLC now owns 41,904 shares of the chip maker's stock worth $840,000 after purchasing an additional 419 shares during the period. Federated Hermes Inc. lifted 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 in the last quarter. Verdence Capital Advisors LLC boosted its stake in shares of Intel by 1.1% in the first quarter. Verdence Capital Advisors LLC now owns 45,682 shares of the chip maker's stock valued at $1,037,000 after purchasing an additional 486 shares during the period. Finally, Ausdal Financial Partners Inc. grew its holdings in shares of Intel by 2.0% in the fourth quarter. Ausdal Financial Partners Inc. now owns 24,963 shares of the chip maker's stock valued at $501,000 after purchasing an additional 500 shares in the last quarter. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on INTC shares. Needham & Company LLC reissued a "hold" rating on shares of Intel in a research report on Friday, April 25th. Wall Street Zen raised Intel from a "sell" rating to a "hold" rating in a research note on Saturday, May 24th. Cfra Research upgraded Intel to a "hold" rating in a research note on Friday, April 25th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Intel in a research note on Wednesday, May 21st. They set a "hold" rating and a $23.00 target price on the stock. Finally, Benchmark reiterated a "hold" rating on shares of Intel in a research note on Friday, April 25th. Five research analysts have rated the stock with a sell rating, twenty-six have issued a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $21.95.

Intel Stock Performance

Shares of INTC stock traded up $0.30 during midday trading on Friday, hitting $23.10. The company had a trading volume of 60,111,927 shares, compared to its average volume of 86,198,676. The stock has a market cap of $100.76 billion, a price-to-earnings ratio of -5.16 and a beta of 1.15. 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's 50 day simple moving average is $21.53 and its 200 day simple moving average is $21.38. Intel Corporation has a 52-week low of $17.67 and a 52-week high of $34.58.

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