Pzena Investment Management LLC Takes Position in Intel Corporation (NASDAQ:INTC)

Pzena Investment Management LLC bought a new position in shares of Intel Corporation (NASDAQ:INTC - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 12,326 shares of the chip maker's stock, valued at approximately $280,000.

Several other hedge funds have also added to or reduced their stakes in the business. LFA Lugano Financial Advisors SA bought a new position in Intel during the 1st quarter worth approximately $30,000. Vermillion Wealth Management Inc. bought a new position in Intel during the 4th quarter worth approximately $27,000. Mizuho Securities Co. Ltd. bought a new stake in shares of Intel in the 1st quarter valued at $32,000. Olde Wealth Management LLC bought a new stake in shares of Intel in the 1st quarter valued at $31,000. Finally, EQ Wealth Advisors LLC bought a new stake in shares of Intel in the 1st quarter valued at $33,000. 64.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

INTC has been the subject of several research analyst reports. Mizuho lifted their price objective on shares of Intel from $22.00 to $23.00 and gave the company a "neutral" rating in a research note on Thursday, July 3rd. Sanford C. Bernstein lowered their price objective on shares of Intel from $25.00 to $21.00 and set a "market perform" rating for the company in a research note on Tuesday, April 22nd. Wells Fargo & Company lowered their price objective on shares of Intel from $25.00 to $22.00 and set an "equal weight" rating for the company in a research note on Friday, April 25th. Rosenblatt Securities lowered their price objective on shares of Intel from $18.00 to $14.00 and set a "sell" rating for the company in a research note on Friday, April 25th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Intel in a research note on Friday, April 25th. Five research analysts have rated the stock with a sell rating, twenty-six have issued a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $21.95.

Intel Stock Performance

Shares of NASDAQ:INTC traded up $0.30 during midday trading on Friday, reaching $23.10. The company had a trading volume of 60,111,927 shares, compared to its average volume of 86,198,676. The company's 50 day moving average price is $21.53 and its 200 day moving average price is $21.38. The company has a current ratio of 1.31, a quick ratio of 0.93 and a debt-to-equity ratio of 0.42. The stock has a market cap of $100.76 billion, a P/E ratio of -5.16 and a beta of 1.15. Intel Corporation has a 52-week low of $17.67 and a 52-week high of $34.58.

Intel (NASDAQ:INTC - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The chip maker reported $0.13 earnings per share for the quarter, topping analysts' consensus estimates of $0.01 by $0.12. The company had revenue of $12.67 billion for the quarter, compared to the consensus estimate of $12.26 billion. Intel had a negative net margin of 36.19% and a negative return on equity of 3.15%. The firm's quarterly revenue was down .4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.18 EPS. As a group, sell-side analysts anticipate that Intel Corporation will post -0.11 EPS 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.