Intel Corporation (NASDAQ:INTC) Shares Acquired by Yong Rong HK Asset Management Ltd

Yong Rong HK Asset Management Ltd increased its position in shares of Intel Corporation (NASDAQ:INTC - Free Report) by 275.0% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 75,000 shares of the chip maker's stock after buying an additional 55,000 shares during the quarter. Intel comprises 0.4% of Yong Rong HK Asset Management Ltd's investment portfolio, making the stock its 22nd biggest holding. Yong Rong HK Asset Management Ltd's holdings in Intel were worth $1,704,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. LFA Lugano Financial Advisors SA purchased a new position in Intel during the 1st quarter worth approximately $30,000. Vermillion Wealth Management Inc. acquired a new stake in shares of Intel in the 4th quarter valued at approximately $27,000. Mizuho Securities Co. Ltd. acquired a new stake in shares of Intel in the 1st quarter valued at approximately $32,000. Olde Wealth Management LLC acquired a new stake in shares of Intel in the 1st quarter valued at approximately $31,000. Finally, EQ Wealth Advisors LLC acquired a new position in Intel during the first quarter worth $33,000. Hedge funds and other institutional investors own 64.53% of the company's stock.

Intel Stock Down 2.2%

Shares of NASDAQ INTC traded down $0.49 on Monday, hitting $22.00. The company had a trading volume of 80,616,506 shares, compared to its average volume of 86,351,501. 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 Corporation has a 12-month low of $17.67 and a 12-month high of $37.16. The firm has a market capitalization of $95.96 billion, a P/E ratio of -4.91 and a beta of 1.15. The business has a 50 day moving average of $21.04 and a two-hundred day moving average of $21.21.

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

Analysts Set New Price Targets

Several brokerages recently issued reports on INTC. Cfra Research raised Intel to a "hold" rating in a report on Friday, April 25th. Cantor Fitzgerald reduced their price objective on Intel from $29.00 to $20.00 and set a "neutral" rating for the company in a report on Monday, April 21st. Wedbush reduced their price objective on Intel from $20.00 to $19.00 and set a "neutral" rating for the company in a report on Wednesday, April 23rd. Wells Fargo & Company cut their price target on Intel from $25.00 to $22.00 and set an "equal weight" rating for the company in a report on Friday, April 25th. Finally, Mizuho boosted their price target on Intel from $22.00 to $23.00 and gave the stock a "neutral" rating in a report on Thursday. Five investment analysts have rated the stock with a sell rating, twenty-six have given a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $21.76.

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.