Pinpoint Asset Management Ltd Takes Position in Intel Corporation (NASDAQ:INTC)

Key Points

• Pinpoint Asset Management Ltd acquired a new stake in Intel Corporation, purchasing 58,740 shares valued at approximately $1.39 million in the first quarter.
• Several institutional investors, including N.E.W. Advisory Services and Vermillion Wealth Management, have also established new positions in Intel in recent months, indicating growing interest among hedge funds.
• Intel reported a loss of $0.10 earnings per share in its latest quarterly earnings, missing analyst expectations, although revenue increased by 0.5% compared to the previous year.

Pinpoint Asset Management Ltd bought a new position in shares of Intel Corporation (NASDAQ:INTC - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 58,740 shares of the chip maker's stock, valued at approximately $1,391,000.

Several other hedge funds have also added to or reduced their stakes in INTC. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Intel by 14.5% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 8,139,371 shares of the chip maker's stock worth $184,845,000 after purchasing an additional 1,030,338 shares during the period. Y.D. More Investments Ltd acquired a new stake in Intel during the first quarter worth approximately $405,000. Red Crane Wealth Management LLC increased its stake in Intel by 4.2% during the 1st quarter. Red Crane Wealth Management LLC now owns 13,503 shares of the chip maker's stock worth $307,000 after acquiring an additional 540 shares during the period. Beacon Harbor Wealth Advisors Inc. acquired a new position in Intel in the 1st quarter valued at $205,000. Finally, Ironwood Investment Counsel LLC raised its holdings in Intel by 22.8% in the 1st quarter. Ironwood Investment Counsel LLC now owns 19,225 shares of the chip maker's stock valued at $437,000 after acquiring an additional 3,575 shares in the last quarter. 64.53% of the stock is owned by institutional investors and hedge funds.

Intel Stock Up 0.9%

NASDAQ:INTC traded up $0.18 on Friday, hitting $19.95. The stock had a trading volume of 75,147,129 shares, compared to its average volume of 84,513,864. The business's fifty day moving average is $21.56 and its 200 day moving average is $21.48. Intel Corporation has a 52 week low of $17.67 and a 52 week high of $27.55. 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 company has a market cap of $87.32 billion, a PE ratio of -4.18 and a beta of 1.22.

Intel (NASDAQ:INTC - Get Free Report) last released its quarterly earnings data 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 business had revenue of $12.86 billion during 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 firm's quarterly revenue was up .5% on a year-over-year basis. During the same period last year, the business posted $0.02 earnings per share. On average, equities research analysts expect that Intel Corporation will post -0.11 EPS for the current fiscal year.

Wall Street Analyst Weigh In

INTC has been the topic of a number of recent analyst reports. UBS Group lifted their target price on Intel from $21.00 to $25.00 and gave the company a "neutral" rating in a research report on Monday, July 14th. Sanford C. Bernstein decreased their price target on shares of Intel from $25.00 to $21.00 and set a "market perform" rating for the company in a research report on Tuesday, April 22nd. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Intel in a report on Wednesday, May 21st. They set a "hold" rating and a $23.00 price target on the stock. Wall Street Zen downgraded Intel from a "hold" rating to a "sell" rating in a report on Saturday, July 26th. Finally, Rosenblatt Securities reissued a "sell" rating and issued a $14.00 price target on shares of Intel in a research note on Friday, July 25th. Six investment analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $22.17.

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.