Ironsides Asset Advisors LLC Invests $284,000 in Intel Corporation (NASDAQ:INTC)

Key Points

• Ironsides Asset Advisors LLC has invested $284,000 in Intel Corporation by acquiring 12,500 shares during the first quarter, as reported in their recent SEC filing.
• Wall Street analysts have mixed views on Intel, with six rating the stock as a sell, while others maintain a hold rating, leading to an average price target of $22.30.
• Intel reported a loss of ($0.10) EPS for the last quarter, missing expectations, despite a revenue increase to $12.86 billion, which was above analysts' predictions.

Ironsides Asset Advisors LLC bought a new stake in shares of Intel Corporation (NASDAQ:INTC - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 12,500 shares of the chip maker's stock, valued at approximately $284,000.

Other large investors also recently added to or reduced their stakes in the company. MJT & Associates Financial Advisory Group Inc. purchased a new position in shares of Intel in the 1st quarter worth $27,000. LFA Lugano Financial Advisors SA bought a new position in shares of Intel in the 1st quarter valued at about $30,000. Vermillion Wealth Management Inc. bought a new position in shares of Intel in the 4th quarter valued at about $27,000. Mizuho Securities Co. Ltd. purchased a new position in Intel in the first quarter worth about $32,000. Finally, Olde Wealth Management LLC bought a new stake in Intel during the first quarter worth approximately $31,000. 64.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on INTC. Cantor Fitzgerald lowered their price objective on Intel from $29.00 to $20.00 and set a "neutral" rating for the company in a research note on Monday, April 21st. Rosenblatt Securities restated a "sell" rating and issued a $14.00 price target on shares of Intel in a research report on Friday. Needham & Company LLC reaffirmed a "hold" rating on shares of Intel in a research note on Friday. Morgan Stanley reduced their target price on shares of Intel from $25.00 to $23.00 and set an "equal weight" rating on the stock in a research note on Friday, April 25th. Finally, Seaport Res Ptn upgraded shares of Intel to a "strong sell" rating in a report on Wednesday, April 30th. Six equities research 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. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $22.30.

Intel Stock Performance

Shares of INTC stock opened at $20.68 on Tuesday. The firm has a market cap of $90.21 billion, a price-to-earnings ratio of -4.34 and a beta of 1.15. Intel Corporation has a 52-week low of $17.67 and a 52-week high of $31.47. The company has a quick ratio of 0.92, a current ratio of 1.24 and a debt-to-equity ratio of 0.42. The company's 50 day moving average is $21.63 and its 200 day moving average is $21.52.

Intel (NASDAQ:INTC - Get Free Report) last announced its quarterly 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). The company had revenue of $12.86 billion during the quarter, compared to analysts' expectations of $11.88 billion. Intel had a negative net margin of 38.64% and a negative return on equity of 3.78%. The company's revenue was up .5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.02 earnings per share. On average, sell-side analysts anticipate 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.

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