Fortitude Family Office LLC Reduces Stock Position in Intel Co. (NASDAQ:INTC)

Fortitude Family Office LLC lessened its holdings in Intel Co. (NASDAQ:INTC) by 47.3% during the 1st quarter, HoldingsChannel.com reports. The fund owned 6,725 shares of the chip maker’s stock after selling 6,036 shares during the period. Fortitude Family Office LLC’s holdings in Intel were worth $153,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of INTC. Cornerstone Advisory LLC boosted its stake in Intel by 4.3% during the fourth quarter. Cornerstone Advisory LLC now owns 9,863 shares of the chip maker’s stock worth $198,000 after buying an additional 409 shares during the period. Evergreen Capital Management LLC boosted its position in shares of Intel by 1.0% during the 4th quarter. Evergreen Capital Management LLC now owns 41,904 shares of the chip maker’s stock worth $840,000 after purchasing an additional 419 shares during the period. Federated Hermes Inc. boosted its position in shares of Intel by 0.3% during the 4th quarter. Federated Hermes Inc. now owns 162,757 shares of the chip maker’s stock worth $3,263,000 after purchasing an additional 456 shares during the period. Ausdal Financial Partners Inc. increased its holdings in Intel by 2.0% in the 4th quarter. Ausdal Financial Partners Inc. now owns 24,963 shares of the chip maker’s stock valued at $501,000 after purchasing an additional 500 shares during the last quarter. Finally, Wealth Quarterback LLC lifted its stake in Intel by 2.0% during the fourth quarter. Wealth Quarterback LLC now owns 25,458 shares of the chip maker’s stock worth $510,000 after purchasing an additional 508 shares in the last quarter. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Wall Street Analysts Forecast Growth

INTC has been the subject of several research reports. JPMorgan Chase & Co. dropped their target price on Intel from $23.00 to $20.00 and set an “underweight” rating for the company in a research report on Friday, April 25th. Cfra Research raised shares of Intel to a “hold” rating in a research note on Friday, April 25th. Morgan Stanley dropped their price objective on shares of Intel from $25.00 to $23.00 and set an “equal weight” rating for the company in a report on Friday, April 25th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Intel in a research report on Wednesday, May 21st. They issued a “hold” rating and a $23.00 price target for the company. Finally, Barclays reiterated a “reduce” rating on shares of Intel in a research note on Tuesday, April 22nd. Six equities research analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Intel has a consensus rating of “Hold” and an average price target of $21.57.

Intel Stock Down 6.3%

INTC stock opened at $20.68 on Thursday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.33 and a quick ratio of 0.98. The company has a market cap of $90.21 billion, a price-to-earnings ratio of -4.72 and a beta of 1.12. Intel Co. has a 12 month low of $17.67 and a 12 month high of $37.16. The company has a fifty day moving average price of $20.37 and a 200 day moving average price of $21.21.

Intel (NASDAQ:INTC) last released its earnings results on Thursday, April 24th. The chip maker reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $12.67 billion for the quarter, compared to analyst estimates of $12.26 billion. During the same quarter in the previous year, the company posted $0.18 earnings per share. The company’s revenue for the quarter was down .4% compared to the same quarter last year. Sell-side analysts expect 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.