Mizuho Securities USA LLC Lowers Stock Position in Intel Corporation (NASDAQ:INTC)

Key Points

• Mizuho Securities USA LLC has reduced its stake in Intel Corporation by 15.2% during the 1st quarter, selling 62,073 shares, and now holds 346,702 shares valued at approximately $7.87 million.
• Intel's stock opened at $19.95, with a market capitalization of $87.32 billion and a negative earnings per share of ($0.10), missing consensus estimates.
• Institutional investors own about 64.53% of Intel's stock, with a consensus rating of "Hold" and a price target of $22.17 from various analysts.

Mizuho Securities USA LLC lessened its holdings in shares of Intel Corporation (NASDAQ:INTC - Free Report) by 15.2% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 346,702 shares of the chip maker's stock after selling 62,073 shares during the quarter. Mizuho Securities USA LLC's holdings in Intel were worth $7,874,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. N.E.W. Advisory Services LLC purchased a new stake in Intel in the first quarter valued at approximately $25,000. MJT & Associates Financial Advisory Group Inc. purchased a new stake in Intel in the first quarter valued at approximately $27,000. LFA Lugano Financial Advisors SA purchased a new stake in Intel in the first quarter valued at approximately $30,000. Vermillion Wealth Management Inc. purchased a new stake in Intel in the fourth quarter valued at approximately $27,000. Finally, PrairieView Partners LLC raised its stake in Intel by 77.0% in the first quarter. PrairieView Partners LLC now owns 1,398 shares of the chip maker's stock valued at $31,000 after purchasing an additional 608 shares in the last quarter. Institutional investors own 64.53% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on INTC shares. Needham & Company LLC reaffirmed a "hold" rating on shares of Intel in a research note on Friday, July 25th. Citigroup reaffirmed a "hold" rating on shares of Intel in a research note on Tuesday, July 8th. Morgan Stanley lowered 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. Loop Capital started coverage on shares of Intel in a research note on Monday, July 21st. They issued a "hold" rating and a $25.00 target price on the stock. Finally, Wedbush lowered their target price on shares of Intel from $20.00 to $19.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 23rd. Six investment analysts have rated the stock with a sell rating, twenty-three have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $22.17.

Intel Trading Up 0.9%

NASDAQ:INTC traded up $0.18 during trading hours on Friday, hitting $19.95. The company had a trading volume of 75,147,129 shares, compared to its average volume of 84,513,864. The company has a market capitalization of $87.32 billion, a PE ratio of -4.18 and a beta of 1.22. The stock has a 50-day moving average price of $21.56 and a 200 day moving average price of $21.48. Intel Corporation has a 52 week low of $17.67 and a 52 week high of $27.55. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.24 and a quick ratio of 0.92.

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). The company had revenue of $12.86 billion during the quarter, compared to the consensus estimate of $11.88 billion. Intel had a negative net margin of 38.64% and a negative return on equity of 3.78%. The business's revenue was up .5% on a year-over-year basis. During the same quarter last year, the firm earned $0.02 EPS. On average, equities research analysts predict that Intel Corporation will post -0.11 EPS for the current fiscal year.

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.