IVC Wealth Advisors LLC Buys 2,720 Shares of Intel Co. (NASDAQ:INTC)

IVC Wealth Advisors LLC raised its stake in Intel Co. (NASDAQ:INTC) by 15.7% during the first quarter, Holdings Channel.com reports. The institutional investor owned 20,093 shares of the chip maker’s stock after purchasing an additional 2,720 shares during the quarter. IVC Wealth Advisors LLC’s holdings in Intel were worth $456,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in INTC. Beese Fulmer Investment Management Inc. raised its holdings in shares of Intel by 10.0% during the 1st quarter. Beese Fulmer Investment Management Inc. now owns 20,260 shares of the chip maker’s stock valued at $460,000 after buying an additional 1,837 shares in the last quarter. Investors Research Corp grew its position in Intel by 11.7% during the first quarter. Investors Research Corp now owns 40,297 shares of the chip maker’s stock valued at $915,000 after acquiring an additional 4,222 shares during the last quarter. Parallel Advisors LLC raised its stake in shares of Intel by 0.7% during the first quarter. Parallel Advisors LLC now owns 82,842 shares of the chip maker’s stock worth $1,881,000 after acquiring an additional 589 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Intel by 1,982.3% in the 1st quarter. GAMMA Investing LLC now owns 321,937 shares of the chip maker’s stock worth $73,110,000 after acquiring an additional 306,476 shares during the last quarter. Finally, Howard Financial Services LTD. lifted its holdings in shares of Intel by 10.8% in the 1st quarter. Howard Financial Services LTD. now owns 17,109 shares of the chip maker’s stock worth $389,000 after acquiring an additional 1,665 shares during the last quarter. 64.53% of the stock is owned by institutional investors.

Intel Stock Down 3.8%

Shares of NASDAQ INTC opened at $19.49 on Friday. The firm has a fifty day simple moving average of $20.67 and a two-hundred day simple moving average of $21.44. Intel Co. has a 12 month low of $17.67 and a 12 month 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 firm has a market capitalization of $85.02 billion, a PE ratio of -4.45 and a beta of 1.15.

Intel (NASDAQ:INTC) last announced its quarterly 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 net margin of 35.32% and a negative return on equity of 3.27%. The company had revenue of $12.67 billion for the quarter, compared to analysts’ expectations of $12.26 billion. During the same quarter in the previous year, the company earned $0.18 earnings per share. Intel’s quarterly revenue was down .4% on a year-over-year basis. Equities analysts expect that Intel Co. will post -0.11 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Susquehanna decreased their target price on shares of Intel from $24.00 to $22.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 16th. Rosenblatt Securities reduced their price objective on Intel from $18.00 to $14.00 and set a “sell” rating on the stock in a research note on Friday, April 25th. Roth Mkm lowered their target price on Intel from $25.00 to $20.00 and set a “neutral” rating for the company in a research note on Friday, January 31st. Wells Fargo & Company dropped their target price 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, Cantor Fitzgerald decreased their price target on Intel from $29.00 to $20.00 and set a “neutral” rating on the stock in a research note on Monday, April 21st. 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 data from MarketBeat, Intel currently has an average rating of “Hold” and an average price target of $21.57.

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.