Intel Corporation (NASDAQ:INTC) Shares Sold by Lee Danner & Bass Inc.

Lee Danner & Bass Inc. lessened its holdings in shares of Intel Corporation (NASDAQ:INTC - Free Report) by 9.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 240,150 shares of the chip maker's stock after selling 26,265 shares during the quarter. Lee Danner & Bass Inc.'s holdings in Intel were worth $5,454,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Assetmark Inc. raised its holdings in Intel by 121.8% in the fourth quarter. Assetmark Inc. now owns 5,286 shares of the chip maker's stock worth $106,000 after purchasing an additional 2,903 shares in the last quarter. Proficio Capital Partners LLC bought a new position in Intel in the fourth quarter worth $1,789,000. Raymond James Financial Inc. bought a new position in Intel in the fourth quarter worth $53,465,000. Callan Family Office LLC purchased a new stake in shares of Intel in the fourth quarter worth $279,000. Finally, West Family Investments Inc. purchased a new stake in shares of Intel in the fourth quarter worth $265,000. Institutional investors own 64.53% of the company's stock.

Analyst Upgrades and Downgrades

INTC has been the topic of a number of recent research reports. JPMorgan Chase & Co. cut their target price on Intel from $23.00 to $20.00 and set an "underweight" rating on the stock in a research note on Friday, April 25th. Wedbush reduced their price target on shares of Intel from $20.00 to $19.00 and set a "neutral" rating for the company in a research note on Wednesday, April 23rd. Wells Fargo & Company dropped their target price on Intel from $25.00 to $22.00 and set an "equal weight" rating on the stock in a research report on Friday, April 25th. Cantor Fitzgerald decreased their price objective on Intel from $29.00 to $20.00 and set a "neutral" rating on the stock in a research note on Monday, April 21st. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Intel in a research note on Wednesday, May 21st. They issued a "hold" rating and a $23.00 price objective on the stock. Five analysts have rated the stock with a sell rating, twenty-six have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Intel presently has an average rating of "Hold" and a consensus price target of $21.76.

Intel Stock Performance

Intel stock traded down $0.18 during trading hours on Wednesday, hitting $23.41. 49,413,102 shares of the stock traded hands, compared to its average volume of 86,434,909. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.31 and a quick ratio of 0.93. The firm's 50 day moving average price is $21.13 and its 200-day moving average price is $21.25. The stock has a market capitalization of $102.11 billion, a price-to-earnings ratio of -5.23 and a beta of 1.15. Intel Corporation has a 1 year low of $17.67 and a 1 year high of $37.16.

Intel (NASDAQ:INTC - Get Free Report) last issued its earnings results on Thursday, April 24th. The chip maker reported $0.13 EPS for the quarter, topping analysts' consensus estimates of $0.01 by $0.12. The firm had revenue of $12.67 billion for 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%. The company's revenue was down .4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.18 earnings per share. As a group, equities analysts expect that Intel Corporation will post -0.11 EPS for the current fiscal year.

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.