Altfest L J & Co. Inc. Acquires 31,208 Shares of Intel Corporation (NASDAQ:INTC)

Key Points

• Altfest L J & Co. Inc. increased its stake in Intel Corporation by 193.0% in Q1, now holding 47,381 shares valued at over $1 million.
• Intel's most recent quarterly report revealed a net loss of ($0.10) EPS, missing estimates, despite revenue of $12.86 billion.
• Currently, Intel has a **consensus rating** of "Hold" from analysts, with an average price target of **$22.17**.

Altfest L J & Co. Inc. boosted its stake in shares of Intel Corporation (NASDAQ:INTC - Free Report) by 193.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 47,381 shares of the chip maker's stock after acquiring an additional 31,208 shares during the quarter. Altfest L J & Co. Inc.'s holdings in Intel were worth $1,076,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd bought a new stake in shares of Intel during the fourth quarter worth $75,000. Federated Hermes Inc. grew its stake 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 during the period. FMR LLC increased its holdings in Intel by 4.3% in the fourth quarter. FMR LLC now owns 5,878,501 shares of the chip maker's stock valued at $117,864,000 after purchasing an additional 242,544 shares during the last quarter. Cerity Partners LLC lifted its stake in Intel by 4.0% in the fourth quarter. Cerity Partners LLC now owns 875,963 shares of the chip maker's stock valued at $17,882,000 after buying an additional 33,390 shares during the period. Finally, Polymer Capital Management US LLC bought a new position in Intel during the fourth quarter worth about $221,000. Institutional investors and hedge funds own 64.53% of the company's stock.

Intel Stock Up 0.9%

Shares of NASDAQ:INTC traded up $0.18 during midday trading on Friday, hitting $19.95. The stock had a trading volume of 75,147,129 shares, compared to its average volume of 84,513,864. The company has a market cap of $87.32 billion, a P/E ratio of -4.18 and a beta of 1.22. Intel Corporation has a 12 month low of $17.67 and a 12 month high of $27.55. The business's 50-day simple moving average is $21.56 and its 200-day simple moving average is $21.48. 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 (NASDAQ:INTC - Get Free Report) last issued its earnings results 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 net margin of 38.64% and a negative return on equity of 3.78%. The firm had revenue of $12.86 billion during the quarter, compared to analyst estimates of $11.88 billion. During the same quarter last year, the business posted $0.02 earnings per share. The company's revenue for the quarter was up .5% on a year-over-year basis. On average, sell-side analysts forecast that Intel Corporation will post -0.11 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

INTC has been the topic of a number of analyst reports. Wedbush cut their price target on shares of Intel from $20.00 to $19.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 23rd. Susquehanna cut their target price on shares of Intel from $24.00 to $22.00 and set a "neutral" rating on the stock in a report on Wednesday, April 16th. Rosenblatt Securities reissued a "sell" rating and issued a $14.00 price target on shares of Intel in a report on Friday, July 25th. Mizuho raised their price objective on Intel from $22.00 to $23.00 and gave the stock a "neutral" rating in a research note on Thursday, July 3rd. Finally, Morgan Stanley lowered their price target on Intel from $25.00 to $23.00 and set an "equal weight" rating for the company in a report on Friday, April 25th. Six equities research analysts have rated the stock with a sell rating, twenty-three have issued a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $22.17.

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.