Freestone Grove Partners LP Makes New Investment in Intel Co. (NASDAQ:INTC)

Freestone Grove Partners LP purchased a new position in Intel Co. (NASDAQ:INTC - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,124,910 shares of the chip maker's stock, valued at approximately $62,654,000. Intel makes up about 0.8% of Freestone Grove Partners LP's holdings, making the stock its 25th largest position. Freestone Grove Partners LP owned 0.07% of Intel at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Finley Financial LLC purchased a new stake in Intel in the fourth quarter worth about $25,000. Synergy Investment Management LLC bought a new stake in shares of Intel in the 4th quarter worth approximately $27,000. BankPlus Trust Department purchased a new stake in shares of Intel in the 4th quarter worth approximately $28,000. Keystone Financial Group Inc. bought a new position in Intel during the 4th quarter valued at approximately $29,000. Finally, West Financial Advisors LLC bought a new stake in Intel in the fourth quarter worth $31,000. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on INTC. UBS Group reduced their price target on Intel from $22.00 to $21.00 and set a "neutral" rating for the company in a report on Friday, April 25th. Benchmark reiterated a "hold" rating on shares of Intel in a research note on Friday, April 25th. Barclays reissued a "reduce" rating on shares of Intel in a research report on Tuesday, April 22nd. Wedbush lowered their price objective on Intel from $20.00 to $19.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 23rd. Finally, Truist Financial reduced their target price on Intel from $22.00 to $21.00 and set a "hold" rating for the company in a report on Friday, January 31st. Six analysts have rated the stock with a sell rating, twenty-seven have assigned a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, Intel has a consensus rating of "Hold" and a consensus price target of $22.23.

Intel Price Performance

Shares of INTC traded up $0.64 during trading hours on Friday, reaching $20.62. 63,092,152 shares of the stock traded hands, compared to its average volume of 79,652,933. Intel Co. has a 52-week low of $17.67 and a 52-week high of $37.16. The company has a current ratio of 1.33, a quick ratio of 0.98 and a debt-to-equity ratio of 0.44. The company has a market cap of $89.92 billion, a P/E ratio of -4.71 and a beta of 1.13. The company's 50-day moving average price is $21.47 and its two-hundred day moving average price is $21.77.

Intel (NASDAQ:INTC - Get Free Report) last issued its earnings results 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 return on equity of 3.27% and a negative net margin of 35.32%. The company had revenue of $12.67 billion for the quarter, compared to the consensus estimate of $12.26 billion. During the same quarter last year, the company earned $0.18 EPS. The firm's quarterly revenue was down .4% on a year-over-year basis. On average, analysts anticipate that Intel Co. will post -0.11 earnings per share for the current year.

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.