Carret Asset Management LLC Lowers Position in Intel Corporation (NASDAQ:INTC)

Carret Asset Management LLC lessened its stake in Intel Corporation (NASDAQ:INTC) by 46.5% during the 1st quarter, HoldingsChannel reports. The firm owned 36,988 shares of the chip maker’s stock after selling 32,170 shares during the quarter. Carret Asset Management LLC’s holdings in Intel were worth $840,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also bought and sold shares of the stock. Cornerstone Advisory LLC increased its stake in shares of Intel by 4.3% in the 4th quarter. Cornerstone Advisory LLC now owns 9,863 shares of the chip maker’s stock worth $198,000 after acquiring an additional 409 shares during the last quarter. Evergreen Capital Management LLC increased its stake in shares of Intel by 1.0% in the 4th quarter. Evergreen Capital Management LLC now owns 41,904 shares of the chip maker’s stock worth $840,000 after acquiring an additional 419 shares during the last quarter. Federated Hermes Inc. increased its stake in shares of Intel by 0.3% in the 4th quarter. Federated Hermes Inc. now owns 162,757 shares of the chip maker’s stock worth $3,263,000 after acquiring an additional 456 shares during the last quarter. Ausdal Financial Partners Inc. increased its stake in shares of Intel by 2.0% in the 4th quarter. Ausdal Financial Partners Inc. now owns 24,963 shares of the chip maker’s stock worth $501,000 after acquiring an additional 500 shares during the last quarter. Finally, Capital International Sarl increased its stake in shares of Intel by 4.1% in the 4th quarter. Capital International Sarl now owns 12,971 shares of the chip maker’s stock worth $260,000 after acquiring an additional 510 shares during the last quarter. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Wells Fargo & Company cut their target price on Intel from $25.00 to $22.00 and set an “equal weight” rating for the company in a research note on Friday, April 25th. Needham & Company LLC reaffirmed a “hold” rating on shares of Intel in a research note on Friday, April 25th. JPMorgan Chase & Co. cut their target price on Intel from $23.00 to $20.00 and set an “underweight” rating for the company in a research note on Friday, April 25th. Citigroup reissued a “sell” rating on shares of Intel in a research report on Friday, April 25th. Finally, Wedbush cut their price objective on Intel from $20.00 to $19.00 and set a “neutral” rating for the company in a research report on Wednesday, April 23rd. Six analysts have rated the stock with a sell rating, twenty-five have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Intel presently has an average rating of “Hold” and a consensus price target of $21.57.

Intel Stock Performance

NASDAQ INTC opened at $21.08 on Friday. The company has a market cap of $91.95 billion, a P/E ratio of -4.71 and a beta of 1.12. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.31 and a quick ratio of 0.93. The stock has a 50-day moving average of $20.53 and a two-hundred day moving average of $21.08. Intel Corporation has a 1-year low of $17.67 and a 1-year high of $37.16.

Intel (NASDAQ:INTC) last released its earnings results on Thursday, April 24th. The chip maker reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.12. The company had revenue of $12.67 billion during the quarter, compared to the consensus estimate of $12.26 billion. Intel had a negative return on equity of 3.15% and a negative net margin of 36.19%. Intel’s revenue was down .4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.18 EPS. As a group, analysts anticipate that Intel Corporation will post -0.11 EPS for the current year.

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.