Intel Corporation $INTC Shares Sold by Apollon Wealth Management LLC

Key Points

• Apollon Wealth Management LLC reduced its Intel holdings by 4.1% during Q2 2023, now owning 220,984 shares valued at $4,950,000.
• Intel reported a loss of $0.10 per share for the last quarter, missing consensus estimates, despite revenue increasing 0.5% year-over-year to $12.86 billion.
• Analysts have mixed views on Intel, with two analysts rating it as a Buy, twenty-three as Hold, and seven as Sell, resulting in a consensus target price of $26.63.

Apollon Wealth Management LLC decreased its holdings in Intel Corporation (NASDAQ:INTC - Free Report) by 4.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 220,984 shares of the chip maker's stock after selling 9,564 shares during the quarter. Apollon Wealth Management LLC's holdings in Intel were worth $4,950,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Westbourne Investments Inc. grew its holdings in Intel by 319.4% in the 1st quarter. Westbourne Investments Inc. now owns 71,425 shares of the chip maker's stock worth $1,622,000 after buying an additional 54,395 shares in the last quarter. KLP Kapitalforvaltning AS lifted its position in shares of Intel by 6.4% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 1,558,908 shares of the chip maker's stock valued at $34,920,000 after acquiring an additional 93,900 shares during the last quarter. LBP AM SA lifted its position in shares of Intel by 1.8% during the 2nd quarter. LBP AM SA now owns 734,813 shares of the chip maker's stock valued at $16,460,000 after acquiring an additional 13,248 shares during the last quarter. Lockerman Financial Group Inc. acquired a new stake in shares of Intel during the 2nd quarter valued at $237,000. Finally, Swedbank AB lifted its position in shares of Intel by 5.0% during the 2nd quarter. Swedbank AB now owns 9,467,128 shares of the chip maker's stock valued at $212,064,000 after acquiring an additional 454,234 shares during the last quarter. Institutional investors and hedge funds own 64.53% of the company's stock.

Intel Price Performance

Shares of NASDAQ:INTC opened at $36.44 on Friday. The company has a current ratio of 1.24, a quick ratio of 0.92 and a debt-to-equity ratio of 0.42. Intel Corporation has a 1 year low of $17.67 and a 1 year high of $39.65. The business has a fifty day simple moving average of $27.17 and a 200 day simple moving average of $23.24. The firm has a market cap of $159.49 billion, a price-to-earnings ratio of -7.64 and a beta of 1.33.

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 for the quarter, compared to analysts' expectations of $11.88 billion. During the same quarter in the prior year, the business posted $0.02 earnings per share. Intel's revenue was up .5% on a year-over-year basis. Intel has set its Q3 2025 guidance at 0.000-0.000 EPS. As a group, sell-side analysts predict that Intel Corporation will post -0.11 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on INTC. New Street Research increased their price objective on Intel from $23.00 to $32.00 in a research report on Friday, September 19th. Barclays increased their price objective on Intel from $19.00 to $25.00 and gave the company an "equal weight" rating in a research report on Friday, September 19th. Needham & Company LLC reiterated a "hold" rating on shares of Intel in a research report on Friday, July 25th. Rosenblatt Securities reiterated a "sell" rating and set a $14.00 price objective on shares of Intel in a research report on Friday, July 25th. Finally, Mizuho increased their target price on Intel from $22.00 to $23.00 and gave the company a "neutral" rating in a report on Thursday, July 3rd. Two investment analysts have rated the stock with a Buy rating, twenty-three have assigned a Hold rating and seven have given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Reduce" and a consensus target price of $26.63.

Intel Company 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.

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