Intel Corporation (NASDAQ:INTC) Shares Sold by IFG Advisory LLC

Key Points

• IFG Advisory LLC reduced its stake in Intel Corporation by 28.1% in the first quarter, selling 17,748 shares and now holding 45,374 shares valued at approximately $1,030,000.
• Recent analyst ratings for Intel vary, with Wall Street Zen downgrading the stock from "hold" to "sell," while JPMorgan Chase raised its price target from $20.00 to $21.00, rating it as "underweight."
• Intel reported earnings of ($0.10) per share, missing the consensus estimate of $0.01, even though revenue reached $12.86 billion, surpassing analysts' expectations of $11.88 billion.

IFG Advisory LLC trimmed its position in Intel Corporation (NASDAQ:INTC - Free Report) by 28.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 45,374 shares of the chip maker's stock after selling 17,748 shares during the period. IFG Advisory LLC's holdings in Intel were worth $1,030,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Cornerstone Advisory LLC lifted its stake in shares of Intel by 4.3% in the fourth quarter. Cornerstone Advisory LLC now owns 9,863 shares of the chip maker's stock worth $198,000 after buying an additional 409 shares in the last quarter. Evergreen Capital Management LLC lifted its position in Intel by 1.0% during the fourth 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. Federated Hermes Inc. lifted its position in Intel by 0.3% during the fourth quarter. Federated Hermes Inc. now owns 162,757 shares of the chip maker's stock valued at $3,263,000 after purchasing an additional 456 shares during the period. Verdence Capital Advisors LLC lifted its position in Intel by 1.1% during the first quarter. Verdence Capital Advisors LLC now owns 45,682 shares of the chip maker's stock valued at $1,037,000 after purchasing an additional 486 shares during the period. Finally, one8zero8 LLC lifted its position 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. 64.53% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on INTC shares. Loop Capital initiated coverage on shares of Intel in a research note on Monday, July 21st. They issued a "hold" rating and a $25.00 price objective for the company. Susquehanna lowered their target price on shares of Intel from $24.00 to $22.00 and set a "neutral" rating for the company in a report on Wednesday, April 16th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Intel in a report on Wednesday, May 21st. They issued a "hold" rating and a $23.00 price target for the company. JPMorgan Chase & Co. boosted their target price on shares of Intel from $20.00 to $21.00 and gave the stock an "underweight" rating in a research report on Friday, July 25th. Finally, Cfra Research upgraded shares of Intel to a "hold" rating in a research note on Friday, April 25th. Six investment analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $22.17.

Intel Trading Up 3.5%

Shares of NASDAQ:INTC traded up $0.69 on Tuesday, reaching $20.19. 96,935,951 shares of the company traded hands, compared to its average volume of 81,943,752. The business's 50-day simple moving average is $21.57 and its 200 day simple moving average is $21.52. Intel Corporation has a 52 week low of $17.67 and a 52 week high of $27.55. The stock has a market capitalization of $88.37 billion, a P/E ratio of -4.23 and a beta of 1.22. 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 (NASDAQ:INTC - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The chip maker reported ($0.10) 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 business had revenue of $12.86 billion during the quarter, compared to the consensus estimate of $11.88 billion. During the same quarter in the previous year, the business posted $0.02 earnings per share. Intel's quarterly revenue was up .5% compared to the same quarter last year. As a group, equities analysts anticipate 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.