PARUS FINANCE UK Ltd Has $5.11 Million Position in Intel Corporation (NASDAQ:INTC)

Key Points

• PARUS FINANCE UK Ltd reduced its holdings in Intel Corporation by 61.3% during the first quarter, now owning 225,189 shares valued at approximately $5.11 million.
• Analysts have a consensus rating of "Hold" for Intel, with an average price target of $22.17, following several recent downgrades to price objectives by major brokerages.
• Intel reported a loss of $0.10 per share for the latest quarter, missing estimates, despite revenues of $12.86 billion which exceeded expectations.

PARUS FINANCE UK Ltd lowered its position in shares of Intel Corporation (NASDAQ:INTC - Free Report) by 61.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 225,189 shares of the chip maker's stock after selling 356,651 shares during the quarter. Intel accounts for about 1.7% of PARUS FINANCE UK Ltd's investment portfolio, making the stock its 16th biggest holding. PARUS FINANCE UK Ltd's holdings in Intel were worth $5,114,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of INTC. Cornerstone Advisory LLC grew its position in Intel by 4.3% during the fourth quarter. Cornerstone Advisory LLC now owns 9,863 shares of the chip maker's stock valued at $198,000 after acquiring an additional 409 shares during the last quarter. Evergreen Capital Management LLC grew its position in Intel by 1.0% during the fourth quarter. Evergreen Capital Management LLC now owns 41,904 shares of the chip maker's stock valued at $840,000 after acquiring an additional 419 shares during the last quarter. Federated Hermes Inc. lifted its position in Intel by 0.3% in the fourth quarter. Federated Hermes Inc. now owns 162,757 shares of the chip maker's stock valued at $3,263,000 after purchasing an additional 456 shares during the last quarter. Verdence Capital Advisors LLC lifted its position in Intel by 1.1% in the first quarter. Verdence Capital Advisors LLC now owns 45,682 shares of the chip maker's stock valued at $1,037,000 after purchasing an additional 486 shares during the last quarter. Finally, one8zero8 LLC lifted its position in Intel by 4.2% in the first quarter. one8zero8 LLC now owns 12,320 shares of the chip maker's stock valued at $280,000 after purchasing an additional 500 shares during the last quarter. Institutional investors and hedge funds own 64.53% of the company's stock.

Analyst Ratings Changes

Several brokerages have weighed in on INTC. Barclays reiterated a "reduce" rating on shares of Intel in a research report on Tuesday, April 22nd. Morgan Stanley lowered their price objective on Intel from $25.00 to $23.00 and set an "equal weight" rating for the company in a research report on Friday, April 25th. Deutsche Bank Aktiengesellschaft began coverage on Intel in a research report on Wednesday, May 21st. They issued a "hold" rating and a $23.00 price objective for the company. Wells Fargo & Company lowered their price objective on Intel from $25.00 to $22.00 and set an "equal weight" rating for the company in a research report on Friday, April 25th. Finally, Sanford C. Bernstein cut their price objective on Intel from $25.00 to $21.00 and set a "market perform" rating on the stock in a research report on Tuesday, April 22nd. Six research analysts have rated the stock with a sell rating, twenty-four have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Intel has a consensus rating of "Hold" and an average price target of $22.17.

Intel Stock Performance

Shares of INTC opened at $19.50 on Tuesday. The stock has a market cap of $85.35 billion, a P/E ratio of -4.09 and a beta of 1.22. 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 business's 50 day moving average price is $21.57 and its 200-day moving average price is $21.52. Intel Corporation has a 52 week low of $17.67 and a 52 week high of $27.55.

Intel (NASDAQ:INTC - Get Free Report) last announced 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 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%. Intel's revenue was up .5% on a year-over-year basis. During the same period last year, the business earned $0.02 EPS. Equities research analysts anticipate that Intel Corporation will post -0.11 earnings per share 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.