Pacer Advisors Inc. Reduces Stock Position in Intel Corporation (NASDAQ:INTC)

Key Points

• Pacer Advisors Inc. reduced its stake in Intel Corporation by 18.7%, now holding 618,454 shares worth approximately $14.05 million after selling 142,482 shares in Q1.
• Intel's recent quarterly report showed a loss of ($0.10) earnings per share, missing analyst estimates, despite revenues rising to $12.86 billion, up 0.5% year-over-year.
• Institutional investors own 64.53% of Intel's stock, with other hedge funds like Geode Capital Management and UBS Asset Management increasing their positions in the fourth quarter.

Pacer Advisors Inc. decreased its position in shares of Intel Corporation (NASDAQ:INTC - Free Report) by 18.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 618,454 shares of the chip maker's stock after selling 142,482 shares during the quarter. Pacer Advisors Inc.'s holdings in Intel were worth $14,045,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in INTC. Cornerstone Advisory LLC raised its holdings in shares of Intel by 4.3% during the 4th quarter. Cornerstone Advisory LLC now owns 9,863 shares of the chip maker's stock valued at $198,000 after buying an additional 409 shares in the last quarter. Evergreen Capital Management LLC raised its position in shares of Intel by 1.0% in the 4th quarter. Evergreen Capital Management LLC now owns 41,904 shares of the chip maker's stock worth $840,000 after purchasing an additional 419 shares during the last quarter. Federated Hermes Inc. raised its position in shares of Intel by 0.3% in the 4th quarter. Federated Hermes Inc. now owns 162,757 shares of the chip maker's stock worth $3,263,000 after purchasing an additional 456 shares during the last quarter. Verdence Capital Advisors LLC raised its position in shares of Intel by 1.1% in the 1st quarter. Verdence Capital Advisors LLC now owns 45,682 shares of the chip maker's stock worth $1,037,000 after purchasing an additional 486 shares during the last quarter. Finally, Capital International Sarl raised its position in shares of Intel by 4.1% in the 4th quarter. Capital International Sarl now owns 12,971 shares of the chip maker's stock worth $260,000 after purchasing an additional 510 shares during the last quarter. Institutional investors own 64.53% of the company's stock.

Intel Trading Down 0.7%

INTC traded down $0.14 during trading hours on Wednesday, reaching $20.28. 20,806,767 shares of the company's stock traded hands, compared to its average volume of 93,467,211. The company has a quick ratio of 0.92, a current ratio of 1.24 and a debt-to-equity ratio of 0.42. The firm has a 50-day moving average price of $21.61 and a 200 day moving average price of $21.52. The firm has a market capitalization of $88.74 billion, a PE ratio of -4.25 and a beta of 1.15. Intel Corporation has a 52-week low of $17.67 and a 52-week high of $30.87.

Intel (NASDAQ:INTC - Get Free Report) last issued its earnings results on Thursday, July 24th. The chip maker reported ($0.10) earnings per share for the quarter, missing analysts' consensus estimates of $0.01 by ($0.11). The firm had revenue of $12.86 billion for 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 company's revenue for the quarter was up .5% on a year-over-year basis. During the same period last year, the firm earned $0.02 earnings per share. As a group, sell-side analysts predict that Intel Corporation will post -0.11 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Citigroup reaffirmed a "hold" rating on shares of Intel in a report on Tuesday, July 8th. Susquehanna lowered their price target on Intel from $24.00 to $22.00 and set a "neutral" rating on the stock in a report on Wednesday, April 16th. Deutsche Bank Aktiengesellschaft started coverage on Intel in a report on Wednesday, May 21st. They set a "hold" rating and a $23.00 price target on the stock. Cfra Research raised shares of Intel to a "hold" rating in a report on Friday, April 25th. Finally, UBS Group raised their price objective on shares of Intel from $21.00 to $25.00 and gave the stock a "neutral" rating in a report on Monday, July 14th. Six analysts have rated the stock with a sell rating, twenty-six have given a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat, Intel currently has an average rating of "Hold" and a consensus price target of $22.30.

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.