LSV Asset Management Sells 92,500 Shares of Intel Corporation (NASDAQ:INTC)

Key Points

• LSV Asset Management has reduced its stake in Intel Corporation by 2.4% by selling 92,500 shares, leaving it with 3,782,400 shares valued at approximately $85.9 million.
• Intel reported a loss of $0.10 earnings per share for the latest quarter, missing expectations, although revenue increased by 0.5% year-over-year to $12.86 billion.
• Analysts have set a consensus target price of $22.17 for Intel, with mixed ratings, including 24 hold ratings and several sell ratings noted in recent brokerages' reports.

LSV Asset Management decreased its position in Intel Corporation (NASDAQ:INTC - Free Report) by 2.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,782,400 shares of the chip maker's stock after selling 92,500 shares during the quarter. LSV Asset Management owned 0.09% of Intel worth $85,898,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Two Sigma Advisers LP purchased a new position in Intel in the 4th quarter worth approximately $289,752,000. Two Sigma Investments LP purchased a new position in Intel in the 4th quarter worth approximately $237,457,000. Toronto Dominion Bank increased its stake in Intel by 286.8% in the 4th quarter. Toronto Dominion Bank now owns 10,529,354 shares of the chip maker's stock worth $211,114,000 after purchasing an additional 7,806,882 shares during the period. OVERSEA CHINESE BANKING Corp Ltd increased its stake in Intel by 1,180.8% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 7,209,637 shares of the chip maker's stock worth $163,731,000 after purchasing an additional 6,646,727 shares during the period. Finally, Northern Trust Corp increased its stake in Intel by 15.5% in the 4th quarter. Northern Trust Corp now owns 45,811,555 shares of the chip maker's stock worth $918,522,000 after purchasing an additional 6,157,853 shares during the period. Institutional investors own 64.53% of the company's stock.

Intel Trading Down 2.5%

NASDAQ INTC opened at $19.31 on Friday. The company has a quick ratio of 0.92, a current ratio of 1.24 and a debt-to-equity ratio of 0.42. Intel Corporation has a twelve month low of $17.67 and a twelve month high of $27.55. The firm has a market capitalization of $84.52 billion, a PE ratio of -4.05 and a beta of 1.22. The stock's 50 day moving average is $21.58 and its 200 day moving average is $21.52.

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 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 firm had revenue of $12.86 billion for the quarter, compared to the consensus estimate of $11.88 billion. During the same quarter in the prior year, the firm earned $0.02 earnings per share. The company's revenue for the quarter was up .5% compared to the same quarter last year. Research analysts forecast that Intel Corporation will post -0.11 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have commented on INTC. Susquehanna decreased their price target on Intel from $24.00 to $22.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 16th. Wall Street Zen cut Intel from a "hold" rating to a "sell" rating in a research note on Saturday, July 26th. Benchmark reissued a "hold" rating on shares of Intel in a research note on Friday, July 25th. UBS Group boosted their target price on Intel from $21.00 to $25.00 and gave the company a "neutral" rating in a research note on Monday, July 14th. Finally, Loop Capital assumed coverage on Intel in a research note on Monday, July 21st. They set a "hold" rating and a $25.00 target price on the stock. Six research analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Intel presently has an average rating of "Hold" and a consensus target price of $22.17.

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.

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