Salem Investment Counselors Inc. Sells 25,921 Shares of Intel Co. (NASDAQ:INTC)

Salem Investment Counselors Inc. decreased its holdings in shares of Intel Co. (NASDAQ:INTC) by 27.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 67,910 shares of the chip maker’s stock after selling 25,921 shares during the quarter. Salem Investment Counselors Inc.’s holdings in Intel were worth $1,542,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Everhart Financial Group Inc. bought a new stake in Intel during the 1st quarter valued at $562,000. Relyea Zuckerberg Hanson LLC increased its holdings in shares of Intel by 13.4% in the first quarter. Relyea Zuckerberg Hanson LLC now owns 32,780 shares of the chip maker’s stock worth $744,000 after purchasing an additional 3,882 shares during the period. RFG Holdings Inc. increased its holdings in shares of Intel by 46.7% in the first quarter. RFG Holdings Inc. now owns 43,696 shares of the chip maker’s stock worth $993,000 after purchasing an additional 13,901 shares during the period. Legacy Trust increased its holdings in shares of Intel by 8.2% in the first quarter. Legacy Trust now owns 15,993 shares of the chip maker’s stock worth $363,000 after purchasing an additional 1,214 shares during the period. Finally, Ballew Advisors Inc increased its holdings in shares of Intel by 5.1% in the first quarter. Ballew Advisors Inc now owns 14,515 shares of the chip maker’s stock worth $330,000 after purchasing an additional 700 shares during the period. Institutional investors own 64.53% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on INTC. UBS Group decreased their price target on shares of Intel from $22.00 to $21.00 and set a “neutral” rating on the stock in a report on Friday, April 25th. Cfra Research raised shares of Intel to a “hold” rating in a report on Friday, April 25th. Deutsche Bank Aktiengesellschaft began coverage on shares of Intel in a report on Wednesday, May 21st. They issued a “hold” rating and a $23.00 price target on the stock. JPMorgan Chase & Co. decreased their price target on shares of Intel from $23.00 to $20.00 and set an “underweight” rating on the stock in a report on Friday, April 25th. Finally, Morgan Stanley cut their target price on shares of Intel from $25.00 to $23.00 and set an “equal weight” rating for the company in a research report on Friday, April 25th. Six equities research 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 company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $21.57.

Intel Stock Performance

NASDAQ INTC opened at $20.14 on Friday. The firm has a market cap of $87.85 billion, a price-to-earnings ratio of -4.60 and a beta of 1.12. The company has a 50-day simple moving average of $20.43 and a two-hundred day simple moving average of $21.16. 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 12-month low of $17.67 and a 12-month high of $37.16.

Intel (NASDAQ:INTC) last issued its quarterly earnings data on Thursday, April 24th. The chip maker reported $0.13 EPS for the quarter, beating 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 quarterly revenue was down .4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.18 earnings per share. On average, equities analysts forecast that Intel Co. will post -0.11 EPS for the current year.

Intel Company 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.