Forum Financial Management LP Purchases 7,501 Shares of Intel Co. (NASDAQ:INTC)

Forum Financial Management LP raised its position in Intel Co. (NASDAQ:INTC) by 11.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 73,610 shares of the chip maker’s stock after buying an additional 7,501 shares during the quarter. Forum Financial Management LP’s holdings in Intel were worth $1,727,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Guardian Capital Advisors LP lifted its stake in shares of Intel by 2.1% in the first quarter. Guardian Capital Advisors LP now owns 16,030 shares of the chip maker’s stock worth $708,000 after buying an additional 328 shares in the last quarter. Richard C. Young & CO. LTD. boosted its stake in Intel by 0.9% during the 1st quarter. Richard C. Young & CO. LTD. now owns 37,489 shares of the chip maker’s stock valued at $1,656,000 after purchasing an additional 338 shares during the last quarter. Key Financial Inc boosted its stake in Intel by 4.1% during the 2nd quarter. Key Financial Inc now owns 8,685 shares of the chip maker’s stock valued at $269,000 after purchasing an additional 340 shares during the last quarter. Comprehensive Financial Consultants Institutional Inc. increased its holdings in shares of Intel by 5.0% in the 1st quarter. Comprehensive Financial Consultants Institutional Inc. now owns 7,151 shares of the chip maker’s stock worth $316,000 after purchasing an additional 342 shares in the last quarter. Finally, Proficio Capital Partners LLC raised its stake in shares of Intel by 3.9% in the first quarter. Proficio Capital Partners LLC now owns 9,067 shares of the chip maker’s stock worth $400,000 after purchasing an additional 343 shares during the last quarter. 64.53% of the stock is currently owned by institutional investors and hedge funds.

Intel Stock Up 7.8 %

Shares of INTC opened at $23.20 on Monday. Intel Co. has a 52-week low of $18.51 and a 52-week high of $51.28. The company has a market cap of $99.20 billion, a PE ratio of -6.24 and a beta of 1.03. The company has a quick ratio of 1.24, a current ratio of 1.59 and a debt-to-equity ratio of 0.40. The business has a fifty day moving average of $21.79 and a 200 day moving average of $26.90.

Intel (NASDAQ:INTC) last issued its quarterly earnings results on Thursday, August 1st. The chip maker reported $0.02 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.08). Intel had a negative net margin of 29.42% and a negative return on equity of 1.68%. The firm had revenue of $12.80 billion for the quarter, compared to the consensus estimate of $12.92 billion. During the same quarter in the previous year, the company posted ($0.05) earnings per share. The business’s revenue for the quarter was down .8% on a year-over-year basis. On average, sell-side analysts expect that Intel Co. will post -0.47 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on INTC shares. Wedbush reduced their price objective on Intel from $32.50 to $25.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. JPMorgan Chase & Co. reduced their price target on shares of Intel from $35.00 to $26.00 and set an “underweight” rating for the company in a research note on Friday, August 2nd. Stifel Nicolaus reissued a “hold” rating and set a $25.00 price objective (down from $28.00) on shares of Intel in a report on Friday, October 25th. Needham & Company LLC restated a “hold” rating on shares of Intel in a report on Friday. Finally, Benchmark reissued a “hold” rating on shares of Intel in a report on Friday. Six investment analysts have rated the stock with a sell rating, twenty-five have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $30.12.

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.