Legacy Capital Group California Inc. Trims Stock Holdings in Intel Corporation (NASDAQ:INTC)

Legacy Capital Group California Inc. cut its position in shares of Intel Corporation (NASDAQ:INTC - Free Report) by 53.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,209 shares of the chip maker's stock after selling 17,220 shares during the period. Legacy Capital Group California Inc.'s holdings in Intel were worth $345,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Aster Capital Management DIFC Ltd bought a new position in Intel during the fourth quarter valued at $75,000. Federated Hermes Inc. boosted its stake in shares of Intel by 0.3% during the 4th quarter. Federated Hermes Inc. now owns 162,757 shares of the chip maker's stock worth $3,263,000 after purchasing an additional 456 shares during the period. FMR LLC grew its holdings in Intel by 4.3% during the 4th quarter. FMR LLC now owns 5,878,501 shares of the chip maker's stock valued at $117,864,000 after purchasing an additional 242,544 shares during the last quarter. Cerity Partners LLC raised its position in Intel by 4.0% in the 4th quarter. Cerity Partners LLC now owns 875,963 shares of the chip maker's stock worth $17,882,000 after purchasing an additional 33,390 shares during the period. Finally, Polymer Capital Management US LLC bought a new stake in Intel in the fourth quarter worth about $221,000. 64.53% of the stock is owned by hedge funds and other institutional investors.

Intel Stock Up 0.9%

NASDAQ:INTC traded up $0.18 during midday trading on Friday, reaching $19.95. 75,147,129 shares of the stock traded hands, compared to its average volume of 93,544,055. The stock has a market capitalization of $87.32 billion, a PE ratio of -4.18 and a beta of 1.22. Intel Corporation has a 12-month low of $17.67 and a 12-month high of $27.55. 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 business has a 50-day moving average of $21.56 and a two-hundred day moving average of $21.48.

Intel (NASDAQ:INTC - Get Free Report) last issued 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 net margin of 38.64% and a negative return on equity of 3.78%. The business had revenue of $12.86 billion for the quarter, compared to analysts' expectations of $11.88 billion. During the same quarter in the prior year, the company posted $0.02 EPS. The business's revenue for the quarter was up .5% on a year-over-year basis. On average, equities analysts forecast that Intel Corporation will post -0.11 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

INTC has been the topic of a number of analyst reports. Mizuho upped their target price on Intel from $22.00 to $23.00 and gave the company a "neutral" rating in a research note on Thursday, July 3rd. Citigroup reiterated a "hold" rating on shares of Intel in a research note on Tuesday, July 8th. Seaport Res Ptn upgraded Intel to a "strong sell" rating in a research report on Wednesday, April 30th. Cfra Research upgraded shares of Intel to a "hold" rating in a report on Friday, April 25th. Finally, Wall Street Zen downgraded shares of Intel from a "hold" rating to a "sell" rating in a research note on Saturday, July 26th. Six investment analysts have rated the stock with a sell rating, twenty-three have issued a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $22.17.

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.