Intel Co. (NASDAQ:INTC) Shares Sold by Marks Group Wealth Management Inc

Marks Group Wealth Management Inc lowered its stake in Intel Co. (NASDAQ:INTC) by 74.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,052 shares of the chip maker’s stock after selling 32,148 shares during the quarter. Marks Group Wealth Management Inc’s holdings in Intel were worth $259,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. America First Investment Advisors LLC acquired a new position in shares of Intel in the 2nd quarter worth approximately $25,000. Cyrus J. Lawrence LLC acquired a new position in Intel during the second quarter worth $27,000. Spartan Fund Management Inc. acquired a new position in Intel during the second quarter worth $31,000. Financial Connections Group Inc. purchased a new position in shares of Intel during the second quarter worth $32,000. Finally, Triad Wealth Partners LLC purchased a new stake in shares of Intel in the 2nd quarter valued at $33,000. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Intel Trading Up 7.4 %

NASDAQ:INTC opened at $25.05 on Thursday. The company has a market capitalization of $108.04 billion, a PE ratio of -6.73 and a beta of 1.03. Intel Co. has a 52-week low of $18.51 and a 52-week high of $51.28. The stock’s 50 day moving average price is $22.01 and its 200 day moving average price is $26.72. The company has a quick ratio of 0.97, a current ratio of 1.31 and a debt-to-equity ratio of 0.44.

Intel (NASDAQ:INTC) last released its quarterly earnings results on Thursday, October 31st. The chip maker reported ($0.46) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.44). Intel had a negative net margin of 29.42% and a negative return on equity of 1.71%. The business had revenue of $13.30 billion during the quarter, compared to analysts’ expectations of $13.02 billion. During the same quarter last year, the company earned $0.28 EPS. The firm’s revenue for the quarter was down 6.3% compared to the same quarter last year. On average, research analysts anticipate that Intel Co. will post -0.47 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on INTC shares. New Street Research cut Intel from a “buy” rating to a “neutral” rating in a report on Friday, August 2nd. Argus cut shares of Intel from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of Intel in a research note on Friday, November 1st. Daiwa America raised shares of Intel to a “hold” rating in a research report on Monday, August 26th. Finally, Bank of America lowered Intel from a “neutral” rating to an “underperform” rating and cut their price objective for the stock from $35.00 to $23.00 in a research report on Friday, August 2nd. Six equities research analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $30.12.

About Intel

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.