Sagespring Wealth Partners LLC Grows Position in Intel Corporation (NASDAQ:INTC)

Sagespring Wealth Partners LLC increased its position in shares of Intel Corporation (NASDAQ:INTC - Free Report) by 86.8% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 25,116 shares of the chip maker's stock after buying an additional 11,670 shares during the quarter. Sagespring Wealth Partners LLC's holdings in Intel were worth $570,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in INTC. Principal Securities Inc. raised its holdings in shares of Intel by 19.6% in the fourth quarter. Principal Securities Inc. now owns 40,722 shares of the chip maker's stock worth $816,000 after acquiring an additional 6,668 shares during the last quarter. Strategic Financial Concepts LLC acquired a new position in Intel in the fourth quarter valued at $782,000. Principal Financial Group Inc. increased its stake in Intel by 0.4% in the fourth quarter. Principal Financial Group Inc. now owns 4,847,693 shares of the chip maker's stock valued at $97,196,000 after purchasing an additional 20,570 shares during the last quarter. Empower Advisory Group LLC increased its stake in Intel by 1.9% in the fourth quarter. Empower Advisory Group LLC now owns 72,852 shares of the chip maker's stock valued at $1,461,000 after purchasing an additional 1,340 shares during the last quarter. Finally, Venturi Wealth Management LLC grew its position in Intel by 588.6% during the fourth quarter. Venturi Wealth Management LLC now owns 8,821 shares of the chip maker's stock valued at $177,000 after acquiring an additional 7,540 shares during the period. Hedge funds and other institutional investors own 64.53% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on INTC shares. Citigroup reissued a "sell" rating on shares of Intel in a research report on Friday, April 25th. JPMorgan Chase & Co. lowered their price target on Intel from $23.00 to $20.00 and set an "underweight" rating for the company in a research report on Friday, April 25th. Mizuho lowered their price target on Intel from $23.00 to $22.00 and set a "neutral" rating for the company in a research report on Friday, April 25th. Benchmark reissued a "hold" rating on shares of Intel in a research report on Friday, April 25th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Intel in a research report on Wednesday, May 21st. They set a "hold" rating and a $23.00 price target for the company. Six research analysts have rated the stock with a sell rating, twenty-five have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, Intel presently has a consensus rating of "Hold" and a consensus price target of $21.57.

Intel Price Performance

Shares of NASDAQ INTC opened at $21.49 on Thursday. The firm has a market capitalization of $93.74 billion, a PE ratio of -4.80 and a beta of 1.12. 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 1-year low of $17.67 and a 1-year high of $37.16. The business's fifty day moving average price is $20.47 and its two-hundred day moving average price is $21.10.

Intel (NASDAQ:INTC - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The chip maker reported $0.13 EPS for the quarter, beating analysts' consensus estimates of $0.01 by $0.12. The company had revenue of $12.67 billion for 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%. The company's quarterly revenue was down .4% compared to the same quarter last year. During the same period last year, the company earned $0.18 earnings per share. On average, research analysts expect that Intel Corporation will post -0.11 EPS 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.

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