Illinois Municipal Retirement Fund Sells 203,488 Shares of Intel Corporation (NASDAQ:INTC)

Illinois Municipal Retirement Fund lessened its holdings in shares of Intel Corporation (NASDAQ:INTC - Free Report) by 42.6% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 274,696 shares of the chip maker's stock after selling 203,488 shares during the period. Illinois Municipal Retirement Fund's holdings in Intel were worth $6,238,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Transcend Capital Advisors LLC lifted its stake in shares of Intel by 3.4% during the first quarter. Transcend Capital Advisors LLC now owns 19,529 shares of the chip maker's stock valued at $444,000 after acquiring an additional 645 shares during the period. Diversified Trust Co lifted its stake in shares of Intel by 41.2% during the first quarter. Diversified Trust Co now owns 118,312 shares of the chip maker's stock valued at $2,687,000 after acquiring an additional 34,521 shares during the period. Beacon Financial Advisory LLC acquired a new position in shares of Intel during the first quarter valued at $206,000. PDS Planning Inc lifted its stake in shares of Intel by 64.2% during the first quarter. PDS Planning Inc now owns 18,433 shares of the chip maker's stock valued at $419,000 after acquiring an additional 7,206 shares during the period. Finally, Baugh & Associates LLC lifted its stake in shares of Intel by 70.5% during the first quarter. Baugh & Associates LLC now owns 218,372 shares of the chip maker's stock valued at $4,741,000 after acquiring an additional 90,289 shares during the period. Institutional investors and hedge funds own 64.53% of the company's stock.

Intel Stock Up 0.8%

NASDAQ:INTC opened at $22.69 on Friday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.93 and a current ratio of 1.31. The company has a market cap of $98.97 billion, a PE ratio of -5.06 and a beta of 1.12. Intel Corporation has a 52-week low of $17.67 and a 52-week high of $37.16. The stock has a 50-day simple moving average of $20.81 and a 200 day simple moving average of $21.13.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.01 by $0.12. The business had revenue of $12.67 billion during the quarter, compared to the consensus estimate of $12.26 billion. Intel had a negative return on equity of 3.15% and a negative net margin of 36.19%. Intel's quarterly revenue was down .4% on a year-over-year basis. During the same period last year, the company earned $0.18 earnings per share. On average, sell-side analysts expect that Intel Corporation will post -0.11 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have weighed in on INTC shares. Benchmark reissued a "hold" rating on shares of Intel in a research note on Friday, April 25th. Morgan Stanley cut their target price on Intel from $25.00 to $23.00 and set an "equal weight" rating on the stock in a research note on Friday, April 25th. Cantor Fitzgerald cut their target price on Intel from $29.00 to $20.00 and set a "neutral" rating on the stock in a research note on Monday, April 21st. Sanford C. Bernstein cut their target price on Intel from $25.00 to $21.00 and set a "market perform" rating on the stock in a research note on Tuesday, April 22nd. Finally, UBS Group cut their target price on Intel from $22.00 to $21.00 and set a "neutral" rating on the stock in a research note on Friday, April 25th. Six equities research analysts have rated the stock with a sell rating, twenty-five have given a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average 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.

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