Perigon Wealth Management LLC Buys 33,538 Shares of Intel Corporation (NASDAQ:INTC)

Perigon Wealth Management LLC boosted its stake in Intel Corporation (NASDAQ:INTC - Free Report) by 29.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 147,676 shares of the chip maker's stock after purchasing an additional 33,538 shares during the quarter. Perigon Wealth Management LLC's holdings in Intel were worth $3,354,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of INTC. Norges Bank acquired a new position in shares of Intel during the fourth quarter worth approximately $1,246,569,000. Two Sigma Advisers LP acquired a new stake in Intel in the 4th quarter valued at $289,752,000. Two Sigma Investments LP bought a new stake in Intel during the 4th quarter valued at $237,457,000. Toronto Dominion Bank raised its holdings in Intel by 286.8% during the fourth quarter. Toronto Dominion Bank now owns 10,529,354 shares of the chip maker's stock worth $211,114,000 after buying an additional 7,806,882 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in Intel by 15.5% during the fourth quarter. Northern Trust Corp now owns 45,811,555 shares of the chip maker's stock worth $918,522,000 after buying an additional 6,157,853 shares during the last quarter. 64.53% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on INTC shares. Citigroup reiterated a "sell" rating on shares of Intel in a report on Friday, April 25th. Seaport Res Ptn raised shares of Intel to a "strong sell" rating in a research report on Wednesday, April 30th. UBS Group cut their price target on Intel from $22.00 to $21.00 and set a "neutral" rating for the company in a research note on Friday, April 25th. Wall Street Zen raised Intel from a "sell" rating to a "hold" rating in a research note on Saturday, May 24th. Finally, Barclays restated a "reduce" rating on shares of Intel in a report on Tuesday, April 22nd. Six research analysts have rated the stock with a sell rating, twenty-five have given a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $21.57.

Intel Stock Performance

Shares of Intel stock traded up $0.19 on Friday, reaching $22.69. 95,427,163 shares of the company traded hands, compared to its average volume of 85,090,188. The company has a 50 day moving average of $20.73 and a 200 day moving average of $21.10. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.31 and a quick ratio of 0.93. Intel Corporation has a 52 week low of $17.67 and a 52 week high of $37.16. The firm has a market capitalization of $98.97 billion, a PE ratio of -5.06 and a beta of 1.12.

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, beating the consensus estimate of $0.01 by $0.12. The business had revenue of $12.67 billion during the quarter, compared to analyst estimates of $12.26 billion. Intel had a negative return on equity of 3.15% and a negative net margin of 36.19%. Intel's revenue was down .4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.18 earnings per share. Equities analysts forecast that Intel Corporation will post -0.11 earnings per share for the current 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.