Plimoth Trust Co. LLC Trims Stake in Intel Corporation (NASDAQ:INTC)

Plimoth Trust Co. LLC cut its stake in Intel Corporation (NASDAQ:INTC - Free Report) by 72.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,476 shares of the chip maker's stock after selling 71,264 shares during the period. Plimoth Trust Co. LLC's holdings in Intel were worth $601,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Premier Path Wealth Partners LLC boosted its holdings in Intel by 40.6% in the first quarter. Premier Path Wealth Partners LLC now owns 18,870 shares of the chip maker's stock valued at $429,000 after purchasing an additional 5,448 shares during the period. Johnson Investment Counsel Inc. lifted its holdings in Intel by 9.3% during the 1st quarter. Johnson Investment Counsel Inc. now owns 128,614 shares of the chip maker's stock worth $2,921,000 after buying an additional 10,940 shares during the last quarter. CWA Asset Management Group LLC lifted its holdings in Intel by 43.4% during the 1st quarter. CWA Asset Management Group LLC now owns 20,520 shares of the chip maker's stock worth $466,000 after buying an additional 6,207 shares during the last quarter. Marino Stram & Associates LLC purchased a new stake in Intel during the 1st quarter worth about $222,000. Finally, Kingswood Wealth Advisors LLC lifted its holdings in Intel by 147.1% during the 1st quarter. Kingswood Wealth Advisors LLC now owns 138,965 shares of the chip maker's stock worth $3,101,000 after buying an additional 82,724 shares during the last quarter. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on INTC shares. Wall Street Zen raised Intel from a "sell" rating to a "hold" rating in a report on Saturday, May 24th. Wedbush cut their target price on Intel from $20.00 to $19.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 23rd. Morgan Stanley cut their target price on Intel from $25.00 to $23.00 and set an "equal weight" rating on the stock in a research report on Friday, April 25th. Deutsche Bank Aktiengesellschaft started coverage on Intel in a research report on Wednesday, May 21st. They set a "hold" rating and a $23.00 target price on the stock. Finally, Benchmark reiterated a "hold" rating on shares of Intel in a research report on Friday, April 25th. Six research analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Intel has a consensus rating of "Hold" and an average target price of $21.57.

Intel Stock Performance

INTC traded down $0.41 during trading on Friday, reaching $21.08. The company's stock had a trading volume of 133,366,010 shares, compared to its average volume of 84,462,251. Intel Corporation has a 52-week low of $17.67 and a 52-week high of $37.16. The company's fifty day moving average price is $20.50 and its 200-day moving average price is $21.08. The company has a market capitalization of $91.95 billion, a price-to-earnings ratio of -4.71 and a beta of 1.12. 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, beating analysts' consensus estimates 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 in the previous year, the company earned $0.18 EPS. The firm's revenue for the quarter was down .4% compared to the same quarter last year. On average, equities analysts forecast that Intel Corporation will post -0.11 earnings per share for the current fiscal year.

Intel 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.