Prudential PLC Sells 132,430 Shares of Intel Corporation (NASDAQ:INTC)

Key Points

• Prudential PLC reduced its stake in Intel Corporation by 26.6%, selling 132,430 shares, and now holds 364,755 shares valued at $8,284,000.
• Intel's recent quarterly earnings report showed a loss of ($0.10) EPS, missing analysts' expectations, despite revenue increasing to $12.86 billion for the quarter.
• Wall Street analysts have mixed opinions on Intel, with six analysts giving it a sell rating, and an average price target of $22.17.

Prudential PLC decreased its stake in shares of Intel Corporation (NASDAQ:INTC - Free Report) by 26.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 364,755 shares of the chip maker's stock after selling 132,430 shares during the period. Prudential PLC's holdings in Intel were worth $8,284,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Cornerstone Advisory LLC lifted 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 purchasing an additional 409 shares during the period. Evergreen Capital Management LLC lifted 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 purchasing an additional 419 shares during the period. Verdence Capital Advisors LLC raised 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 worth $1,037,000 after acquiring an additional 486 shares during the period. Cary Street Partners Investment Advisory LLC raised its position in Intel by 23.1% in the first quarter. Cary Street Partners Investment Advisory LLC now owns 2,614 shares of the chip maker's stock worth $59,000 after acquiring an additional 491 shares during the period. Finally, one8zero8 LLC raised its position in Intel by 4.2% in the first quarter. one8zero8 LLC now owns 12,320 shares of the chip maker's stock worth $280,000 after acquiring an additional 500 shares during the period. Institutional investors own 64.53% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. UBS Group increased their price target on shares of Intel from $21.00 to $25.00 and gave the stock a "neutral" rating in a research report on Monday, July 14th. Morgan Stanley decreased their price target on shares of Intel from $25.00 to $23.00 and set an "equal weight" rating on the stock in a research report on Friday, April 25th. JPMorgan Chase & Co. increased their price target on shares of Intel from $20.00 to $21.00 and gave the stock an "underweight" rating in a research report on Friday, July 25th. Benchmark reiterated a "hold" rating on shares of Intel in a research report on Friday, July 25th. Finally, Rosenblatt Securities reiterated a "sell" rating and issued a $14.00 price target on shares of Intel in a research report on Friday, July 25th. Six analysts have rated the stock with a sell rating, twenty-three have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $22.17.

Intel Price Performance

INTC stock opened at $21.81 on Wednesday. Intel Corporation has a 12 month low of $17.67 and a 12 month high of $27.55. The company has a current ratio of 1.24, a quick ratio of 0.92 and a debt-to-equity ratio of 0.42. The company has a 50-day moving average price of $21.61 and a 200 day moving average price of $21.48. The stock has a market cap of $95.46 billion, a PE ratio of -4.57 and a beta of 1.22.

Intel (NASDAQ:INTC - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The chip maker reported ($0.10) EPS for the quarter, missing analysts' consensus estimates of $0.01 by ($0.11). Intel had a negative return on equity of 3.78% and a negative net margin of 38.64%. The firm had revenue of $12.86 billion for the quarter, compared to analysts' expectations of $11.88 billion. During the same period in the prior year, the firm posted $0.02 earnings per share. Intel's revenue for the quarter was up .5% on a year-over-year basis. Equities research analysts anticipate that Intel Corporation will post -0.11 earnings per share for the current 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.

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