Kovitz Investment Group Partners LLC Purchases 318,542 Shares of Intel Corporation (NASDAQ:INTC)

Key Points

• Kovitz Investment Group Partners LLC increased its stake in Intel by 180.1% during the first quarter, acquiring an additional 318,542 shares, bringing its total holdings to 495,413 shares worth over $11 million.
• Wall Street analysts have mostly rated Intel with a consensus of "Hold" and average target price of $22.17, with six analysts
• In its recent earnings report, Intel posted a loss of ($0.10) EPS, missing estimates, but its revenue of $12.86 billion exceeded expectations.

Kovitz Investment Group Partners LLC raised its stake in shares of Intel Corporation (NASDAQ:INTC - Free Report) by 180.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 495,413 shares of the chip maker's stock after acquiring an additional 318,542 shares during the quarter. Kovitz Investment Group Partners LLC's holdings in Intel were worth $11,251,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in INTC. Cornerstone Advisory LLC increased its stake in shares of Intel by 4.3% during the 4th quarter. Cornerstone Advisory LLC now owns 9,863 shares of the chip maker's stock worth $198,000 after purchasing an additional 409 shares during the last quarter. Evergreen Capital Management LLC boosted its holdings in Intel by 1.0% in the 4th quarter. Evergreen Capital Management LLC now owns 41,904 shares of the chip maker's stock valued at $840,000 after purchasing an additional 419 shares during the period. Verdence Capital Advisors LLC lifted its holdings in shares of Intel by 1.1% during the 1st quarter. Verdence Capital Advisors LLC now owns 45,682 shares of the chip maker's stock worth $1,037,000 after acquiring an additional 486 shares during the period. Cary Street Partners Investment Advisory LLC grew its position in shares of Intel by 23.1% during the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 2,614 shares of the chip maker's stock worth $59,000 after buying an additional 491 shares during the period. Finally, one8zero8 LLC grew its holdings in Intel by 4.2% during the first quarter. one8zero8 LLC now owns 12,320 shares of the chip maker's stock valued at $280,000 after purchasing an additional 500 shares during the period. Institutional investors and hedge funds own 64.53% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on INTC shares. Barclays reaffirmed a "reduce" rating on shares of Intel in a research note on Tuesday, April 22nd. Stifel Nicolaus upped their price target on shares of Intel from $21.00 to $24.50 and gave the company a "hold" rating in a research note on Monday, July 21st. Wells Fargo & Company cut their price objective on shares of Intel from $25.00 to $22.00 and set an "equal weight" rating for the company in a research report on Friday, April 25th. Morgan Stanley dropped their target price on shares of Intel from $25.00 to $23.00 and set an "equal weight" rating for the company in a report on Friday, April 25th. Finally, Wedbush decreased their target price on shares of Intel from $20.00 to $19.00 and set a "neutral" rating for the company in a research report on Wednesday, April 23rd. Six analysts have rated the stock with a sell rating, twenty-three have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $22.17.

Intel Price Performance

NASDAQ INTC traded up $0.70 during trading hours on Friday, reaching $24.56. The company's stock had a trading volume of 309,327,791 shares, compared to its average volume of 116,381,544. The firm's 50-day moving average price is $21.81 and its 200-day moving average price is $21.57. The company has a quick ratio of 0.92, a current ratio of 1.24 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 $27.55. The company has a market capitalization of $107.50 billion, a price-to-earnings ratio of -5.15 and a beta of 1.22.

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