Neo Ivy Capital Management Buys Shares of 65,646 Intel Corporation (NASDAQ:INTC)

Key Points

• Neo Ivy Capital Management invested $1.49 million in Intel Corporation by acquiring 65,646 shares in the first quarter, highlighting increased institutional interest in the company.
• Wall Street analysts have mixed ratings for Intel; most notably, Morgan Stanley and Susquehanna lowered their target prices, while Rosenblatt Securities maintained a "sell" rating.
• The current price of Intel shares is $20.70, with a market cap of $90.29 billion, reflecting a challenging performance as the company recently reported an earnings miss and negative net margins.

Neo Ivy Capital Management acquired a new position in shares of Intel Corporation (NASDAQ:INTC - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 65,646 shares of the chip maker's stock, valued at approximately $1,491,000.

Several other hedge funds also recently modified their holdings of the company. Assetmark Inc. increased its holdings in shares of Intel by 67.5% during the first quarter. Assetmark Inc. now owns 8,855 shares of the chip maker's stock worth $201,000 after buying an additional 3,569 shares in the last quarter. Navellier & Associates Inc. acquired a new stake in shares of Intel during the first quarter worth approximately $273,000. ANB Bank increased its position in Intel by 3.1% in the 1st quarter. ANB Bank now owns 48,500 shares of the chip maker's stock valued at $1,101,000 after acquiring an additional 1,456 shares in the last quarter. Cetera Investment Advisers increased its position in Intel by 3.5% in the 1st quarter. Cetera Investment Advisers now owns 613,400 shares of the chip maker's stock valued at $13,930,000 after acquiring an additional 20,668 shares in the last quarter. Finally, Avantax Advisory Services Inc. increased its position in Intel by 20.8% in the 1st quarter. Avantax Advisory Services Inc. now owns 210,656 shares of the chip maker's stock valued at $4,784,000 after acquiring an additional 36,263 shares in the last quarter. Institutional investors and hedge funds own 64.53% of the company's stock.

Intel Stock Performance

Shares of INTC traded up $0.12 during trading hours on Monday, hitting $20.82. The company had a trading volume of 50,228,310 shares, compared to its average volume of 93,679,656. The firm has a market cap of $90.80 billion, a price-to-earnings ratio of -4.36 and a beta of 1.15. The business has a fifty day moving average of $21.64 and a 200-day moving average of $21.51. Intel Corporation has a 12 month low of $17.67 and a 12 month high of $31.47. 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 (NASDAQ:INTC - Get Free Report) last issued its quarterly earnings data 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 return on equity of 3.78% and a negative net margin of 38.64%. The business had revenue of $12.86 billion during the quarter, compared to analyst estimates of $11.88 billion. During the same quarter last year, the firm earned $0.02 EPS. Intel's revenue for the quarter was up .5% compared to the same quarter last year. Equities analysts anticipate that Intel Corporation will post -0.11 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. JPMorgan Chase & Co. raised 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. Stifel Nicolaus boosted their target price on Intel from $21.00 to $24.50 and gave the stock a "hold" rating in a research report on Monday, July 21st. Wall Street Zen downgraded Intel from a "hold" rating to a "sell" rating in a research report on Saturday. Rosenblatt Securities restated a "sell" rating and set a $14.00 target price on shares of Intel in a research report on Friday. Finally, Susquehanna lowered their price target on shares of Intel from $24.00 to $22.00 and set a "neutral" rating for the company in a research report on Wednesday, April 16th. Six analysts have rated the stock with a sell rating, twenty-six have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $22.30.

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.