Intel Corporation (NASDAQ:INTC) Position Reduced by Scotia Capital Inc.

Key Points

• Scotia Capital Inc. reduced its stake in Intel Corporation by 10.2%, now owning 131,833 shares worth approximately $2.99 million.
• Intel reported a quarterly earnings loss of ($0.10) per share, missing analyst estimates, while revenue increased to $12.86 billion year-over-year.
• Despite some analysts maintaining a "hold" rating, the consensus price target for Intel's stock is currently set at $22.17.

Scotia Capital Inc. trimmed its position in shares of Intel Corporation (NASDAQ:INTC - Free Report) by 10.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 131,833 shares of the chip maker's stock after selling 14,963 shares during the quarter. Scotia Capital Inc.'s holdings in Intel were worth $2,994,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Two Sigma Advisers LP acquired a new position in Intel during the fourth quarter worth about $289,752,000. Two Sigma Investments LP acquired a new position in Intel during the fourth quarter worth about $237,457,000. Toronto Dominion Bank raised its position in Intel by 286.8% during the fourth quarter. Toronto Dominion Bank now owns 10,529,354 shares of the chip maker's stock worth $211,114,000 after acquiring an additional 7,806,882 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd raised its position in Intel by 1,180.8% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 7,209,637 shares of the chip maker's stock worth $163,731,000 after acquiring an additional 6,646,727 shares during the last quarter. Finally, Northern Trust Corp raised its position in Intel by 15.5% during the fourth quarter. Northern Trust Corp now owns 45,811,555 shares of the chip maker's stock worth $918,522,000 after acquiring an additional 6,157,853 shares during the last quarter. Institutional investors and hedge funds own 64.53% of the company's stock.

Intel Stock Performance

Shares of Intel stock traded down $0.64 during trading on Thursday, hitting $19.77. 130,806,454 shares of the stock were exchanged, compared to its average volume of 80,674,712. The stock's fifty day moving average is $21.56 and its 200 day moving average is $21.51. The stock has a market cap of $86.53 billion, a PE ratio of -4.14 and a beta of 1.22. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.92 and a current ratio of 1.24. Intel Corporation has a 12 month low of $17.67 and a 12 month high of $27.55.

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 the consensus estimate of $0.01 by ($0.11). The firm had revenue of $12.86 billion for the quarter, compared to the consensus estimate of $11.88 billion. Intel had a negative return on equity of 3.78% and a negative net margin of 38.64%. The firm's revenue was up .5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.02 EPS. As a group, sell-side analysts anticipate that Intel Corporation will post -0.11 EPS for the current year.

Analyst Upgrades and Downgrades

INTC has been the subject of a number of analyst reports. Wedbush cut their price objective on shares of Intel from $20.00 to $19.00 and set a "neutral" rating for the company in a research report on Wednesday, April 23rd. Rosenblatt Securities restated a "sell" rating and issued a $14.00 target price on shares of Intel in a report on Friday, July 25th. JPMorgan Chase & Co. boosted their target price on shares of Intel from $20.00 to $21.00 and gave the company an "underweight" rating in a report on Friday, July 25th. Citigroup restated a "hold" rating on shares of Intel in a report on Tuesday, July 8th. Finally, Stifel Nicolaus boosted their target price on shares of Intel from $21.00 to $24.50 and gave the company a "hold" rating in a report on Monday, July 21st. Six research analysts have rated the stock with a sell rating, twenty-three have issued a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $22.17.

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.