Journey Strategic Wealth LLC Purchases New Stake in Intel Corporation (NASDAQ:INTC)

Key Points

• Journey Strategic Wealth LLC has acquired a new position in Intel Corporation, purchasing 12,079 shares valued at approximately $274,000 during the first quarter.
• Intel reported a negative earnings per share of ($0.10) for the last quarter, missing analysts' expectations and showcasing a negative net margin of 38.64%.
• Currently, 64.53% of Intel's stock is held by institutional investors, with several hedge funds recently adjusting their positions in the company.

Journey Strategic Wealth LLC bought a new position in shares of Intel Corporation (NASDAQ:INTC - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 12,079 shares of the chip maker's stock, valued at approximately $274,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in INTC. Geode Capital Management LLC boosted its holdings in shares of Intel by 3.2% in the 4th quarter. Geode Capital Management LLC now owns 95,488,444 shares of the chip maker's stock valued at $1,909,761,000 after buying an additional 2,978,346 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Intel by 8.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 63,263,339 shares of the chip maker's stock valued at $1,268,430,000 after buying an additional 4,793,927 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of Intel by 15.5% in the 4th quarter. Northern Trust Corp now owns 45,811,555 shares of the chip maker's stock valued at $918,522,000 after buying an additional 6,157,853 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Intel by 9.4% in the 4th quarter. Invesco Ltd. now owns 43,088,830 shares of the chip maker's stock valued at $863,931,000 after buying an additional 3,696,377 shares in the last quarter. Finally, Deutsche Bank AG boosted its holdings in shares of Intel by 14.1% in the 4th quarter. Deutsche Bank AG now owns 24,030,097 shares of the chip maker's stock valued at $481,803,000 after buying an additional 2,965,308 shares in the last quarter. 64.53% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Sanford C. Bernstein decreased their price objective on shares of Intel from $25.00 to $21.00 and set a "market perform" rating for the company in a research report on Tuesday, April 22nd. Benchmark reaffirmed a "hold" rating on shares of Intel in a research report on Friday. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Intel in a research report on Wednesday, May 21st. They issued a "hold" rating and a $23.00 price objective for the company. JPMorgan Chase & Co. increased their price objective on shares of Intel from $20.00 to $21.00 and gave the company an "underweight" rating in a research report on Friday. Finally, Loop Capital assumed coverage on shares of Intel in a research report on Monday, July 21st. They issued a "hold" rating and a $25.00 price objective for the company. Six research analysts have rated the stock with a sell rating, twenty-six have given a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $22.30.

Intel Stock Down 8.5%

NASDAQ INTC traded down $1.93 on Friday, reaching $20.70. The company had a trading volume of 244,366,959 shares, compared to its average volume of 71,245,776. The firm has a market capitalization of $90.29 billion, a PE ratio of -4.34 and a beta of 1.15. Intel Corporation has a 1 year low of $17.67 and a 1 year high of $31.56. The firm has a 50-day moving average of $21.64 and a 200-day moving average of $21.50. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.31 and a quick ratio of 0.93.

Intel (NASDAQ:INTC - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The chip maker reported ($0.10) earnings per share 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 return on equity of 3.78% and a negative net margin of 38.64%. The firm's revenue was up .5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.02 EPS. On average, equities research 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.