Ninety One UK Ltd Sells 232,698 Shares of Intel Corporation (NASDAQ:INTC)

Ninety One UK Ltd reduced its holdings in Intel Corporation (NASDAQ:INTC - Free Report) by 33.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 458,097 shares of the chip maker's stock after selling 232,698 shares during the period. Ninety One UK Ltd's holdings in Intel were worth $10,403,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Assetmark Inc. raised its stake in shares of Intel by 121.8% during the 4th quarter. Assetmark Inc. now owns 5,286 shares of the chip maker's stock worth $106,000 after purchasing an additional 2,903 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of Intel during the 4th quarter worth about $1,789,000. Raymond James Financial Inc. purchased a new stake in shares of Intel during the 4th quarter worth about $53,465,000. Callan Family Office LLC purchased a new stake in shares of Intel during the 4th quarter worth about $279,000. Finally, OFI Invest Asset Management purchased a new stake in shares of Intel during the 4th quarter worth about $265,000. 64.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on INTC shares. Wall Street Zen raised Intel from a "sell" rating to a "hold" rating in a research note on Saturday, May 24th. Needham & Company LLC reaffirmed a "hold" rating on shares of Intel in a research note on Friday, April 25th. Benchmark reissued a "hold" rating on shares of Intel in a report on Friday, April 25th. Wells Fargo & Company lowered their price objective on Intel from $25.00 to $22.00 and set an "equal weight" rating on the stock in a report on Friday, April 25th. Finally, Morgan Stanley lowered their price objective on Intel from $25.00 to $23.00 and set an "equal weight" rating on the stock in a report on Friday, April 25th. Five analysts have rated the stock with a sell rating, twenty-six have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Intel presently has an average rating of "Hold" and a consensus target price of $21.76.

Intel Stock Performance

Shares of NASDAQ:INTC traded up $0.38 during trading on Thursday, hitting $23.82. 54,513,208 shares of the stock were exchanged, compared to its average volume of 86,400,606. Intel Corporation has a 1-year low of $17.67 and a 1-year high of $37.16. The company has a market capitalization of $103.90 billion, a price-to-earnings ratio of -5.32 and a beta of 1.15. The company's fifty day simple moving average is $21.20 and its 200-day simple moving average is $21.26. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.93 and a current ratio of 1.31.

Intel (NASDAQ:INTC - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The chip maker reported $0.13 earnings per share 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 company had revenue of $12.67 billion for the quarter, compared to analyst estimates of $12.26 billion. During the same quarter last year, the firm earned $0.18 EPS. Intel's revenue for the quarter was down .4% compared to the same quarter last year. Sell-side analysts expect that Intel Corporation will post -0.11 EPS for the current fiscal year.

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.