Harvest Fund Management Co. Ltd Purchases 36,437 Shares of Intel Corporation (NASDAQ:INTC)

Key Points

• Harvest Fund Management Co. Ltd increased its stake in Intel Corporation by 14.4% during the first quarter, owning a total of 290,267 shares valued at approximately $6.59 million.
• Intel's recent quarterly earnings report revealed an EPS of ($0.10), missing estimates, while revenue was up 0.5% year-over-year at $12.86 billion.
• Analysts show a mixed outlook on Intel, with a consensus rating of "Hold" and a target price of $22.30, while some analysts have set price objectives as low as $14.00.

Harvest Fund Management Co. Ltd raised its holdings in shares of Intel Corporation (NASDAQ:INTC - Free Report) by 14.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 290,267 shares of the chip maker's stock after buying an additional 36,437 shares during the quarter. Harvest Fund Management Co. Ltd's holdings in Intel were worth $6,592,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Banque Cantonale Vaudoise purchased a new stake in Intel in the 1st quarter worth about $4,261,000. GSA Capital Partners LLP grew its position in Intel by 2.0% during the first quarter. GSA Capital Partners LLP now owns 67,991 shares of the chip maker's stock worth $1,544,000 after buying an additional 1,353 shares in the last quarter. Valliance Asset Management Ltd bought a new position in Intel during the 1st quarter worth $227,000. Federated Hermes Inc. boosted its stake in Intel by 2.1% during the 1st quarter. Federated Hermes Inc. now owns 166,238 shares of the chip maker's stock valued at $3,775,000 after purchasing an additional 3,481 shares during the last quarter. Finally, N.E.W. Advisory Services LLC bought a new stake in Intel during the 1st quarter valued at $25,000. Institutional investors and hedge funds own 64.53% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on INTC shares. Citigroup reaffirmed a "hold" rating on shares of Intel in a report on Tuesday, July 8th. Wall Street Zen lowered shares of Intel from a "hold" rating to a "sell" rating in a research note on Saturday. Cfra Research raised shares of Intel to a "hold" rating in a research report on Friday, April 25th. Sanford C. Bernstein decreased their price objective on Intel from $25.00 to $21.00 and set a "market perform" rating for the company in a research report on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. increased their target price on Intel from $20.00 to $21.00 and gave the company an "underweight" rating in a research report on Friday, July 25th. Six research analysts have rated the stock with a sell rating, twenty-six have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $22.30.

Intel Stock Down 0.3%

Shares of NASDAQ:INTC traded down $0.07 during trading on Wednesday, hitting $20.34. 67,088,565 shares of the company were exchanged, compared to its average volume of 80,259,520. Intel Corporation has a fifty-two week low of $17.67 and a fifty-two week high of $30.87. The firm has a fifty day moving average price of $21.61 and a two-hundred day moving average price of $21.52. The company has a current ratio of 1.24, a quick ratio of 0.92 and a debt-to-equity ratio of 0.42. The stock has a market cap of $89.03 billion, a price-to-earnings ratio of -4.26 and a beta of 1.15.

Intel (NASDAQ:INTC - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The chip maker reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.11). Intel had a negative return on equity of 3.78% and a negative net margin of 38.64%. The firm had revenue of $12.86 billion during the quarter, compared to the consensus estimate of $11.88 billion. During the same period in the previous year, the business earned $0.02 EPS. The firm's revenue for the quarter was up .5% on a year-over-year basis. As a group, 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.