Cullinan Associates Inc. Decreases Stake in Intel Corporation (NASDAQ:INTC)

Cullinan Associates Inc. lessened its stake in Intel Corporation (NASDAQ:INTC) by 9.0% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 72,889 shares of the chip maker’s stock after selling 7,249 shares during the quarter. Cullinan Associates Inc.’s holdings in Intel were worth $1,655,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Venturi Wealth Management LLC raised its position in shares of Intel by 588.6% during the 4th quarter. Venturi Wealth Management LLC now owns 8,821 shares of the chip maker’s stock worth $177,000 after acquiring an additional 7,540 shares in the last quarter. Cassaday & Co Wealth Management LLC raised its position in shares of Intel by 4.5% during the 4th quarter. Cassaday & Co Wealth Management LLC now owns 15,409 shares of the chip maker’s stock worth $309,000 after acquiring an additional 669 shares in the last quarter. Paradigm Asset Management Co. LLC raised its position in shares of Intel by 169.9% during the 4th quarter. Paradigm Asset Management Co. LLC now owns 8,102 shares of the chip maker’s stock worth $162,000 after acquiring an additional 5,100 shares in the last quarter. Hudson Edge Investment Partners Inc. raised its position in shares of Intel by 17.5% during the 4th quarter. Hudson Edge Investment Partners Inc. now owns 205,035 shares of the chip maker’s stock worth $4,111,000 after acquiring an additional 30,497 shares in the last quarter. Finally, Deseret Mutual Benefit Administrators raised its position in shares of Intel by 12.9% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 24,957 shares of the chip maker’s stock worth $500,000 after acquiring an additional 2,854 shares in the last quarter. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on INTC. Cfra Research raised Intel to a “hold” rating in a research report on Friday, April 25th. Wells Fargo & Company cut their price target on Intel from $25.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Friday, April 25th. Benchmark reaffirmed a “hold” rating on shares of Intel in a research report on Friday, April 25th. Deutsche Bank Aktiengesellschaft began coverage on Intel in a research report on Wednesday, May 21st. They set a “hold” rating and a $23.00 price target on the stock. Finally, JPMorgan Chase & Co. cut their price target on Intel from $23.00 to $20.00 and set an “underweight” rating on the stock in a research report on Friday, April 25th. Six investment 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, the stock presently has a consensus rating of “Hold” and an average price target of $21.57.

Intel Trading Down 1.9%

Shares of INTC stock opened at $21.08 on Friday. The business’s fifty day moving average price is $20.53 and its 200 day moving average price is $21.07. Intel Corporation has a 1-year low of $17.67 and a 1-year high of $37.16. The firm has a market capitalization of $91.95 billion, a PE 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.

Intel (NASDAQ:INTC) last announced its quarterly earnings data on Thursday, April 24th. The chip maker reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.12. Intel had a negative return on equity of 3.15% and a negative net margin of 36.19%. The firm had revenue of $12.67 billion for the quarter, compared to analyst estimates of $12.26 billion. During the same quarter in the prior year, the company posted $0.18 earnings per share. Intel’s quarterly revenue was down .4% on a year-over-year basis. As a group, sell-side analysts forecast that Intel Corporation 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.