Parr Mcknight Wealth Management Group LLC Invests $267,000 in Intel Co. (NASDAQ:INTC)

Parr Mcknight Wealth Management Group LLC bought a new stake in Intel Co. (NASDAQ:INTC) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 13,303 shares of the chip maker’s stock, valued at approximately $267,000.

Several other hedge funds have also recently made changes to their positions in INTC. Synergy Investment Management LLC acquired a new position in shares of Intel in the fourth quarter valued at about $27,000. BankPlus Trust Department purchased a new stake in Intel in the fourth quarter valued at approximately $28,000. Keystone Financial Group Inc. acquired a new position in Intel in the 4th quarter worth approximately $29,000. Conquis Financial LLC purchased a new position in Intel during the 4th quarter worth approximately $32,000. Finally, Pillar Financial Advisors LLC purchased a new position in Intel during the 4th quarter worth approximately $34,000. 64.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Roth Mkm decreased their price objective on shares of Intel from $25.00 to $20.00 and set a “neutral” rating for the company in a research note on Friday, January 31st. Mizuho reduced their target price on shares of Intel from $23.00 to $22.00 and set a “neutral” rating for the company in a report on Friday, April 25th. Stifel Nicolaus decreased their target price on shares of Intel from $25.00 to $21.00 and set a “hold” rating for the company in a research report on Friday, January 31st. Cfra Research upgraded Intel to a “hold” rating in a research note on Friday, April 25th. Finally, Bank of America upgraded Intel from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $19.00 to $25.00 in a research note on Thursday, March 13th. Six 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.com, the company has an average rating of “Hold” and an average target price of $21.57.

Intel Trading Down 2.4%

INTC stock opened at $20.05 on Friday. The company’s 50-day simple moving average is $21.07 and its 200-day simple moving average is $21.62. The company has a quick ratio of 0.98, a current ratio of 1.33 and a debt-to-equity ratio of 0.44. Intel Co. has a 52-week low of $17.67 and a 52-week high of $37.16. The firm has a market cap of $87.46 billion, a P/E ratio of -4.58 and a beta of 1.15.

Intel (NASDAQ:INTC) last released its quarterly earnings results on Thursday, April 24th. The chip maker reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.12. The firm had revenue of $12.67 billion during the quarter, compared to the consensus estimate of $12.26 billion. Intel had a negative net margin of 35.32% and a negative return on equity of 3.27%. The company’s revenue for the quarter was down .4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.18 EPS. As a group, equities analysts forecast that Intel Co. will post -0.11 EPS for the current fiscal 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.