Ninety One UK Ltd Decreases Position in Intel Corporation (NASDAQ:INTC)

Ninety One UK Ltd reduced its stake in shares of Intel Corporation (NASDAQ:INTC - Free Report) by 33.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 458,097 shares of the chip maker's stock after selling 232,698 shares during the quarter. Ninety One UK Ltd's holdings in Intel were worth $10,403,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of INTC. Vermillion Wealth Management Inc. acquired a new stake in Intel during the 4th quarter worth about $27,000. LFA Lugano Financial Advisors SA bought a new stake in shares of Intel in the 1st quarter valued at approximately $30,000. Olde Wealth Management LLC bought a new stake in Intel during the first quarter worth approximately $31,000. Conquis Financial LLC bought a new stake in Intel during the fourth quarter worth approximately $32,000. Finally, Mizuho Securities Co. Ltd. bought a new stake in Intel during the first quarter worth approximately $32,000. 64.53% of the stock is currently owned by institutional investors.

Intel Stock Up 1.0%

Shares of INTC stock traded up $0.23 during midday trading on Thursday, reaching $23.67. 25,834,990 shares of the stock were exchanged, compared to its average volume of 86,156,299. Intel Corporation has a 1 year low of $17.67 and a 1 year high of $37.16. The company's 50 day moving average is $21.20 and its two-hundred day moving average is $21.26. The company has a current ratio of 1.31, a quick ratio of 0.93 and a debt-to-equity ratio of 0.42. The firm has a market cap of $103.23 billion, a PE ratio of -5.29 and a beta of 1.15.

Intel (NASDAQ:INTC - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The chip maker reported $0.13 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $12.67 billion for the quarter, compared to the consensus estimate of $12.26 billion. During the same quarter last year, the company earned $0.18 earnings per share. The business's revenue for the quarter was down .4% compared to the same quarter last year. On average, equities research analysts predict that Intel Corporation will post -0.11 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on INTC shares. Citigroup reiterated a "hold" rating on shares of Intel in a report on Tuesday. UBS Group decreased their target price on Intel from $22.00 to $21.00 and set a "neutral" rating on the stock in a report on Friday, April 25th. Bank of America upgraded Intel from an "underperform" rating to a "neutral" rating and raised their price target for the company from $19.00 to $25.00 in a report on Thursday, March 13th. Cantor Fitzgerald cut their target price on Intel from $29.00 to $20.00 and set a "neutral" rating on the stock in a research note on Monday, April 21st. Finally, Benchmark reaffirmed a "hold" rating on shares of Intel in a research report on Friday, April 25th. Five 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 stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $21.76.

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.