Salem Investment Counselors Inc. Has $1.54 Million Stock Holdings in Intel Co. (NASDAQ:INTC)

Salem Investment Counselors Inc. trimmed its stake in Intel Co. (NASDAQ:INTC - Free Report) by 27.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 67,910 shares of the chip maker's stock after selling 25,921 shares during the period. Salem Investment Counselors Inc.'s holdings in Intel were worth $1,542,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the company. Synergy Investment Management LLC acquired a new stake in shares of Intel during the fourth quarter worth about $27,000. Vermillion Wealth Management Inc. bought a new position in shares of Intel in the fourth quarter valued at $27,000. BankPlus Trust Department acquired a new position in shares of Intel during the 4th quarter worth about $28,000. Conquis Financial LLC bought a new stake in Intel in the 4th quarter valued at $32,000. Finally, Pillar Financial Advisors LLC bought a new stake in shares of Intel during the 4th quarter worth about $34,000. Institutional investors and hedge funds own 64.53% of the company's stock.

Intel Stock Performance

NASDAQ:INTC traded down $0.63 during mid-day trading on Friday, hitting $20.14. The stock had a trading volume of 87,385,210 shares, compared to its average volume of 83,420,383. The company has a 50 day simple moving average of $20.43 and a 200-day simple moving average of $21.16. The stock has a market capitalization of $87.85 billion, a price-to-earnings ratio of -4.60 and a beta of 1.12. The company has a current ratio of 1.33, a quick ratio of 0.98 and a debt-to-equity ratio of 0.44. Intel Co. has a 52 week low of $17.67 and a 52 week high of $37.16.

Intel (NASDAQ:INTC - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The chip maker reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.12. Intel had a negative net margin of 35.32% and a negative return on equity of 3.27%. The firm had revenue of $12.67 billion for the quarter, compared to analysts' expectations of $12.26 billion. During the same period in the previous year, the company posted $0.18 EPS. The company's quarterly revenue was down .4% compared to the same quarter last year. On average, research analysts expect that Intel Co. will post -0.11 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on INTC shares. Wells Fargo & Company dropped their price target on shares of Intel from $25.00 to $22.00 and set an "equal weight" rating for the company in a research report on Friday, April 25th. Morgan Stanley reduced their price objective 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. Bank of America upgraded shares of Intel from an "underperform" rating to a "neutral" rating and lifted their price target for the stock from $19.00 to $25.00 in a report on Thursday, March 13th. Needham & Company LLC restated a "hold" rating on shares of Intel in a report on Friday, April 25th. Finally, Benchmark reaffirmed a "hold" rating on shares of Intel in a research note on Friday, April 25th. Six research analysts have rated the stock with a sell rating, twenty-five have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Intel currently has an average rating of "Hold" and an average price target of $21.57.

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.