SOL Capital Management CO Sells 42,825 Shares of Intel Corporation (NASDAQ:INTC)

SOL Capital Management CO trimmed its holdings in shares of Intel Corporation (NASDAQ:INTC - Free Report) by 40.4% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 63,063 shares of the chip maker's stock after selling 42,825 shares during the quarter. SOL Capital Management CO's holdings in Intel were worth $1,432,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of INTC. Union Bancaire Privee UBP SA acquired a new stake in shares of Intel in the fourth quarter valued at approximately $45,000. IFP Advisors Inc raised its holdings in shares of Intel by 221.4% in the fourth quarter. IFP Advisors Inc now owns 120,110 shares of the chip maker's stock valued at $2,408,000 after purchasing an additional 82,739 shares during the last quarter. BankPlus Trust Department acquired a new stake in shares of Intel in the fourth quarter valued at approximately $28,000. Bank of New York Mellon Corp raised its holdings in shares of Intel by 0.3% in the fourth quarter. Bank of New York Mellon Corp now owns 30,616,197 shares of the chip maker's stock valued at $613,855,000 after purchasing an additional 86,483 shares during the last quarter. Finally, Illinois Municipal Retirement Fund raised its holdings in shares of Intel by 345.1% in the fourth quarter. Illinois Municipal Retirement Fund now owns 478,184 shares of the chip maker's stock valued at $9,588,000 after purchasing an additional 370,759 shares during the last quarter. 64.53% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

INTC has been the topic of a number of recent research reports. JPMorgan Chase & Co. lowered their price objective on shares of Intel from $23.00 to $20.00 and set an "underweight" rating on the stock in a report on Friday, April 25th. Needham & Company LLC restated a "hold" rating on shares of Intel in a report on Friday, April 25th. Mizuho lowered their target price on shares of Intel from $23.00 to $22.00 and set a "neutral" rating on the stock in a report on Friday, April 25th. Susquehanna lowered their target price on shares of Intel from $24.00 to $22.00 and set a "neutral" rating on the stock in a report on Wednesday, April 16th. Finally, Benchmark restated a "hold" rating on shares of Intel in a report on Friday, April 25th. Six investment 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 company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $21.57.

Intel Stock Performance

Shares of Intel stock traded up $0.19 during trading on Friday, reaching $22.69. The company's stock had a trading volume of 95,427,163 shares, compared to its average volume of 85,310,192. The business's 50-day moving average price is $20.73 and its 200-day moving average price is $21.10. The firm has a market cap of $98.97 billion, a PE ratio of -5.06 and a beta of 1.12. Intel Corporation has a 52 week low of $17.67 and a 52 week high of $37.16. The company has a quick ratio of 0.93, a current ratio of 1.31 and a debt-to-equity ratio of 0.42.

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