Waverly Advisors LLC Sells 21,551 Shares of Intel Co. (NASDAQ:INTC)

Waverly Advisors LLC cut its position in shares of Intel Co. (NASDAQ:INTC - Free Report) by 10.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 175,400 shares of the chip maker's stock after selling 21,551 shares during the quarter. Waverly Advisors LLC's holdings in Intel were worth $3,517,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Woodline Partners LP grew its holdings in shares of Intel by 552.9% during the fourth quarter. Woodline Partners LP now owns 1,657,825 shares of the chip maker's stock worth $33,239,000 after buying an additional 1,403,912 shares in the last quarter. Victrix Investment Advisors bought a new position in Intel in the fourth quarter valued at approximately $1,638,000. Vident Advisory LLC grew its stake in Intel by 37.0% in the fourth quarter. Vident Advisory LLC now owns 1,919,310 shares of the chip maker's stock valued at $38,482,000 after purchasing an additional 518,640 shares in the last quarter. Sovereign s Capital Management LLC bought a new position in Intel in the fourth quarter valued at approximately $751,000. Finally, Vivaldi Capital Management LP bought a new position in Intel in the fourth quarter valued at approximately $3,860,000. 64.53% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. JPMorgan Chase & Co. decreased their price target on Intel from $23.00 to $20.00 and set an "underweight" rating for the company in a research note on Friday, April 25th. Truist Financial decreased their price target on Intel from $22.00 to $21.00 and set a "hold" rating for the company in a research note on Friday, January 31st. Rosenblatt Securities decreased their price target on Intel from $18.00 to $14.00 and set a "sell" rating for the company in a research note on Friday, April 25th. Cfra Research upgraded Intel to a "hold" rating in a research note on Friday, April 25th. Finally, Benchmark restated a "hold" rating on shares of Intel in a research note on Friday, April 25th. Six equities research analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $21.57.

Intel Stock Performance

NASDAQ:INTC opened at $20.69 on Thursday. The stock has a market cap of $90.25 billion, a P/E ratio of -4.72 and a beta of 1.15. The stock has a 50 day simple moving average of $21.29 and a 200 day simple moving average of $21.66. 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 1-year low of $17.67 and a 1-year high of $37.16.

Intel (NASDAQ:INTC - Get Free Report) last released its quarterly earnings results 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. The business had revenue of $12.67 billion during the quarter, compared to analysts' expectations of $12.26 billion. Intel had a negative return on equity of 3.27% and a negative net margin of 35.32%. The firm's revenue for the quarter was down .4% compared to the same quarter last year. During the same period last year, the firm posted $0.18 EPS. Research analysts anticipate that Intel Co. 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.

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