Parr Mcknight Wealth Management Group LLC Cuts Stock Holdings in Intel Corporation (NASDAQ:INTC)

Parr Mcknight Wealth Management Group LLC reduced its position in shares of Intel Corporation (NASDAQ:INTC) by 10.9% in the 1st quarter, HoldingsChannel reports. The firm owned 11,857 shares of the chip maker’s stock after selling 1,446 shares during the period. Parr Mcknight Wealth Management Group LLC’s holdings in Intel were worth $269,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in INTC. Assetmark Inc. raised its holdings in Intel by 121.8% during the fourth quarter. Assetmark Inc. now owns 5,286 shares of the chip maker’s stock worth $106,000 after purchasing an additional 2,903 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in Intel during the fourth quarter worth about $1,789,000. Independent Advisor Alliance raised its holdings in Intel by 4.4% during the fourth quarter. Independent Advisor Alliance now owns 80,103 shares of the chip maker’s stock worth $1,606,000 after purchasing an additional 3,395 shares in the last quarter. Sage Mountain Advisors LLC raised its holdings in Intel by 5.4% during the fourth quarter. Sage Mountain Advisors LLC now owns 14,970 shares of the chip maker’s stock worth $300,000 after purchasing an additional 762 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in Intel by 47.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 11,556 shares of the chip maker’s stock worth $232,000 after purchasing an additional 3,703 shares in the last quarter. 64.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on INTC shares. Barclays restated a “reduce” rating on shares of Intel in a research report on Tuesday, April 22nd. Wall Street Zen upgraded shares of Intel from a “sell” rating to a “hold” rating in a research report on Saturday, May 24th. Wedbush lowered their target price on shares of Intel from $20.00 to $19.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 23rd. Sanford C. Bernstein lowered their target price on shares of Intel from $25.00 to $21.00 and set a “market perform” rating on the stock in a research report on Tuesday, April 22nd. Finally, Rosenblatt Securities lowered their target price on shares of Intel from $18.00 to $14.00 and set a “sell” rating on the stock in a research report on Friday, April 25th. Five investment analysts have rated the stock with a sell rating, twenty-six have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $21.76.

Intel Stock Up 1.6%

INTC stock opened at $23.82 on Friday. Intel Corporation has a 12 month low of $17.67 and a 12 month high of $37.16. The company’s 50 day simple moving average is $21.27 and its 200-day simple moving average is $21.29. The firm has a market capitalization of $103.90 billion, a PE ratio of -5.32 and a beta of 1.15. 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 earnings results on Thursday, April 24th. The chip maker reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.12. Intel had a negative net margin of 36.19% and a negative return on equity of 3.15%. The firm had revenue of $12.67 billion for the quarter, compared to analyst estimates of $12.26 billion. During the same quarter last year, the business earned $0.18 earnings per share. Intel’s revenue was down .4% compared to the same quarter last year. Equities analysts expect that Intel Corporation will post -0.11 earnings per share for the current fiscal 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.