Wilkins Investment Counsel Inc. Sells 248,371 Shares of Intel Corporation (NASDAQ:INTC)

Key Points

• Wilkins Investment Counsel Inc. significantly reduced its stake in Intel Corporation by 96.2% in Q1, selling 248,371 shares, leaving it with only 9,800 shares valued at $223,000.
• Intel shares traded down to $20.70 with a market capitalization of $90.29 billion, while the company reported a quarterly revenue of $12.86 billion, exceeding expectations.
• Wall Street analysts generally maintain a cautious outlook on Intel, with a consensus rating of "Hold" and price targets ranging from $14.00 to $25.00.

Wilkins Investment Counsel Inc. cut its stake in Intel Corporation (NASDAQ:INTC - Free Report) by 96.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,800 shares of the chip maker's stock after selling 248,371 shares during the quarter. Wilkins Investment Counsel Inc.'s holdings in Intel were worth $223,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. Cornerstone Advisory LLC boosted its holdings in shares of Intel by 4.3% in 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% during the 4th quarter. Evergreen Capital Management LLC now owns 41,904 shares of the chip maker's stock valued at $840,000 after purchasing an additional 419 shares during the last quarter. Federated Hermes Inc. lifted its holdings in Intel by 0.3% during the 4th quarter. Federated Hermes Inc. now owns 162,757 shares of the chip maker's stock valued at $3,263,000 after purchasing an additional 456 shares during the last quarter. Verdence Capital Advisors LLC lifted its holdings in Intel by 1.1% during the 1st quarter. Verdence Capital Advisors LLC now owns 45,682 shares of the chip maker's stock valued at $1,037,000 after purchasing an additional 486 shares during the last quarter. Finally, Ausdal Financial Partners Inc. lifted its holdings in Intel by 2.0% during the 4th quarter. Ausdal Financial Partners Inc. now owns 24,963 shares of the chip maker's stock valued at $501,000 after purchasing an additional 500 shares during the last quarter. 64.53% of the stock is owned by institutional investors.

Intel Stock Performance

Shares of INTC stock traded down $1.93 on Friday, hitting $20.70. 244,366,959 shares of the stock were exchanged, compared to its average volume of 71,245,776. The company has a current ratio of 1.31, a quick ratio of 0.93 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $90.29 billion, a PE ratio of -4.34 and a beta of 1.15. Intel Corporation has a one year low of $17.67 and a one year high of $31.56. The firm's 50 day moving average is $21.64 and its two-hundred day moving average is $21.49.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Cfra Research raised Intel to a "hold" rating in a report on Friday, April 25th. Rosenblatt Securities reaffirmed a "sell" rating and set a $14.00 price target on shares of Intel in a report on Friday. Benchmark reissued a "hold" rating on shares of Intel in a report on Friday. Susquehanna dropped their target price on Intel from $24.00 to $22.00 and set a "neutral" rating for the company in a report on Wednesday, April 16th. Finally, Loop Capital initiated coverage on Intel in a research report on Monday. They issued a "hold" rating and a $25.00 price target on the stock. Five research analysts have rated the stock with a sell rating, twenty-seven have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $22.30.

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.