Sprucegrove Investment Management Ltd. Has $11.74 Million Holdings in Intel Corporation (NASDAQ:INTC)

Key Points

• Sprucegrove Investment Management Ltd. reduced its holdings in Intel Corporation by 18.1%, now owning 516,720 shares worth approximately $11.74 million, making Intel the firm’s 26th largest investment.
• As of its latest financial reports, Intel posted a loss of $0.10 earnings per share, missing analyst estimates while generating $12.86 billion in revenue for the quarter.
• Intel’s stock has received multiple ratings adjustments, with six analysts issuing sell ratings and a consensus price target set at $22.17.

Sprucegrove Investment Management Ltd. cut its holdings in shares of Intel Corporation (NASDAQ:INTC - Free Report) by 18.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 516,720 shares of the chip maker's stock after selling 114,524 shares during the quarter. Intel accounts for about 1.0% of Sprucegrove Investment Management Ltd.'s investment portfolio, making the stock its 26th largest holding. Sprucegrove Investment Management Ltd.'s holdings in Intel were worth $11,735,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of INTC. Cornerstone Advisory LLC lifted its holdings in shares of Intel by 4.3% during the 4th quarter. Cornerstone Advisory LLC now owns 9,863 shares of the chip maker's stock valued at $198,000 after buying an additional 409 shares during the last quarter. Evergreen Capital Management LLC lifted its holdings in Intel by 1.0% in the 4th quarter. Evergreen Capital Management LLC now owns 41,904 shares of the chip maker's stock worth $840,000 after purchasing an additional 419 shares during the last quarter. Verdence Capital Advisors LLC lifted its holdings in Intel by 1.1% in the 1st quarter. Verdence Capital Advisors LLC now owns 45,682 shares of the chip maker's stock worth $1,037,000 after purchasing an additional 486 shares during the last quarter. Cary Street Partners Investment Advisory LLC lifted its holdings in Intel by 23.1% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 2,614 shares of the chip maker's stock worth $59,000 after purchasing an additional 491 shares during the last quarter. Finally, one8zero8 LLC lifted its holdings in Intel by 4.2% in the 1st quarter. one8zero8 LLC now owns 12,320 shares of the chip maker's stock worth $280,000 after purchasing an additional 500 shares during the last quarter. 64.53% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have commented on INTC shares. Citigroup reaffirmed a "hold" rating on shares of Intel in a research report on Tuesday, July 8th. Wall Street Zen cut Intel from a "hold" rating to a "sell" rating in a research report on Saturday, July 26th. Morgan Stanley lowered 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. Cantor Fitzgerald lowered their price objective on Intel from $29.00 to $20.00 and set a "neutral" rating on the stock in a research report on Monday, April 21st. Finally, Deutsche Bank Aktiengesellschaft started coverage on Intel in a research report on Wednesday, May 21st. They set a "hold" rating and a $23.00 price objective on the stock. 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 data from MarketBeat, Intel has an average rating of "Hold" and a consensus price target of $22.17.

Intel Price Performance

Shares of NASDAQ INTC opened at $24.56 on Friday. The stock has a market capitalization of $107.50 billion, a PE ratio of -5.15 and a beta of 1.22. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.24 and a quick ratio of 0.92. The business has a fifty day moving average price of $21.81 and a two-hundred day moving average price of $21.54. Intel Corporation has a fifty-two week low of $17.67 and a fifty-two week high of $27.55.

Intel (NASDAQ:INTC - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The chip maker reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.11). Intel had a negative net margin of 38.64% and a negative return on equity of 3.78%. The business had revenue of $12.86 billion during the quarter, compared to the consensus estimate of $11.88 billion. During the same quarter in the previous year, the business posted $0.02 EPS. The company's revenue for the quarter was up .5% on a year-over-year basis. As a group, equities analysts predict that Intel Corporation will post -0.11 earnings per share 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.

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