Intel Corporation (NASDAQ:INTC) Shares Bought by Wealthspire Advisors LLC

Key Points

• Wealthspire Advisors LLC significantly increased its stake in Intel Corporation by 102.1%, owning a total of 117,282 shares valued at approximately $2.66 million after acquiring additional shares in the first quarter.
• Intel's stock has a current market cap of $88.37 billion and has seen fluctuations between a 1-year low of $17.67 and a high of $27.55.
• Analysts largely maintain a "hold" rating on Intel, with an average consensus target price of $22.17, reflecting cautious sentiment towards the company amidst mixed financial results.

Wealthspire Advisors LLC increased its stake in shares of Intel Corporation (NASDAQ:INTC - Free Report) by 102.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 117,282 shares of the chip maker's stock after acquiring an additional 59,253 shares during the period. Wealthspire Advisors LLC's holdings in Intel were worth $2,663,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Annis Gardner Whiting Capital Advisors LLC increased its stake in shares of Intel by 15.7% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 4,766 shares of the chip maker's stock valued at $108,000 after purchasing an additional 648 shares in the last quarter. iA Global Asset Management Inc. increased its position in shares of Intel by 65.8% in the first quarter. iA Global Asset Management Inc. now owns 770,568 shares of the chip maker's stock valued at $17,500,000 after buying an additional 305,691 shares in the last quarter. ABC Arbitrage SA purchased a new stake in shares of Intel in the first quarter valued at approximately $1,438,000. LCM Capital Management Inc acquired a new position in shares of Intel during the 1st quarter worth approximately $239,000. Finally, Maxi Investments CY Ltd lifted its position in shares of Intel by 162.9% during the 1st quarter. Maxi Investments CY Ltd now owns 67,017 shares of the chip maker's stock valued at $1,522,000 after buying an additional 41,530 shares in the last quarter. 64.53% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on INTC shares. Mizuho upped their price objective on shares of Intel from $22.00 to $23.00 and gave the stock a "neutral" rating in a research report on Thursday, July 3rd. Wells Fargo & Company reduced their target price on Intel from $25.00 to $22.00 and set an "equal weight" rating for the company in a 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 report on Monday, April 21st. Deutsche Bank Aktiengesellschaft began coverage on shares of Intel in a research note on Wednesday, May 21st. They set a "hold" rating and a $23.00 target price on the stock. Finally, Loop Capital started coverage on shares of Intel in a research report on Monday, July 21st. They issued a "hold" rating and a $25.00 target price for the company. Six investment 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. According to MarketBeat, Intel has an average rating of "Hold" and an average price target of $22.17.

Intel Trading Down 3.1%

Shares of Intel stock traded down $0.64 on Thursday, reaching $19.77. The company had a trading volume of 130,806,454 shares, compared to its average volume of 80,674,712. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.92 and a current ratio of 1.24. The firm has a market cap of $86.53 billion, a PE ratio of -4.14 and a beta of 1.22. The firm's 50 day moving average price is $21.56 and its two-hundred day moving average price is $21.51. Intel Corporation has a 52-week low of $17.67 and a 52-week high of $27.55.

Intel (NASDAQ:INTC - Get Free Report) last announced its earnings results 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). 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 analysts' expectations of $11.88 billion. During the same period in the previous year, the firm earned $0.02 EPS. The firm's revenue for the quarter was up .5% compared to the same quarter last year. Sell-side analysts predict that Intel Corporation will post -0.11 earnings per share 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.