Kornitzer Capital Management Inc. KS Sells 18,997 Shares of Intel Corporation (NASDAQ:INTC)

Kornitzer Capital Management Inc. KS cut its position in shares of Intel Corporation (NASDAQ:INTC - Free Report) by 7.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 230,809 shares of the chip maker's stock after selling 18,997 shares during the quarter. Kornitzer Capital Management Inc. KS's holdings in Intel were worth $5,242,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Vermillion Wealth Management Inc. bought a new stake in shares of Intel during the 4th quarter valued at $27,000. LFA Lugano Financial Advisors SA acquired a new stake in shares of Intel in the first quarter valued at about $30,000. Olde Wealth Management LLC bought a new stake in shares of Intel during the 1st quarter valued at about $31,000. Conquis Financial LLC bought a new stake in shares of Intel during the 4th quarter valued at about $32,000. Finally, Mizuho Securities Co. Ltd. bought a new position in Intel in the first quarter worth approximately $32,000. Institutional investors and hedge funds own 64.53% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on INTC. Rosenblatt Securities dropped their price target on Intel from $18.00 to $14.00 and set a "sell" rating on the stock in a report on Friday, April 25th. Barclays restated a "reduce" rating on shares of Intel in a research report on Tuesday, April 22nd. Seaport Res Ptn raised Intel to a "strong sell" rating in a research note on Wednesday, April 30th. Mizuho upped their price target on Intel from $22.00 to $23.00 and gave the company a "neutral" rating in a research report on Thursday, July 3rd. Finally, Morgan Stanley decreased their target price on Intel from $25.00 to $23.00 and set an "equal weight" rating for the company in a research report on Friday, April 25th. Five 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 company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $21.95.

Intel Price Performance

NASDAQ INTC traded up $0.61 during trading on Friday, reaching $23.41. 30,730,204 shares of the company traded hands, compared to its average volume of 86,079,740. Intel Corporation has a 1-year low of $17.67 and a 1-year high of $36.30. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.93 and a current ratio of 1.31. The stock's 50 day moving average price is $21.53 and its two-hundred day moving average price is $21.38. The company has a market cap of $102.09 billion, a price-to-earnings ratio of -5.22 and a beta of 1.15.

Intel (NASDAQ:INTC - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The chip maker reported $0.13 EPS for the quarter, beating analysts' consensus estimates of $0.01 by $0.12. Intel had a negative return on equity of 3.15% and a negative net margin of 36.19%. The company had revenue of $12.67 billion during the quarter, compared to analysts' expectations of $12.26 billion. During the same period in the prior year, the business posted $0.18 EPS. Intel's revenue was down .4% on a year-over-year basis. As a group, analysts anticipate that Intel Corporation will post -0.11 EPS for the current year.

Intel Company 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.