TD Asset Management Inc Buys 552,189 Shares of Intel Corporation (NASDAQ:INTC)

TD Asset Management Inc lifted its stake in shares of Intel Corporation (NASDAQ:INTC) by 25.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,712,503 shares of the chip maker’s stock after acquiring an additional 552,189 shares during the quarter. TD Asset Management Inc owned approximately 0.06% of Intel worth $61,601,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Freestone Grove Partners LP acquired a new stake in Intel during the fourth quarter worth approximately $62,654,000. Toronto Dominion Bank grew its stake in Intel by 286.8% during the fourth quarter. Toronto Dominion Bank now owns 10,529,354 shares of the chip maker’s stock worth $211,114,000 after purchasing an additional 7,806,882 shares during the period. 180 Wealth Advisors LLC grew its stake in Intel by 124.9% during the first quarter. 180 Wealth Advisors LLC now owns 127,916 shares of the chip maker’s stock worth $2,905,000 after purchasing an additional 71,049 shares during the period. Alteri Wealth LLC acquired a new stake in Intel during the fourth quarter worth approximately $2,379,000. Finally, Gordian Capital Singapore Pte Ltd grew its stake in Intel by 120.7% during the fourth quarter. Gordian Capital Singapore Pte Ltd now owns 64,000 shares of the chip maker’s stock worth $1,282,000 after purchasing an additional 35,000 shares during the period. 64.53% of the stock is currently owned by institutional investors.

Intel Stock Performance

Shares of Intel stock opened at $20.70 on Monday. The business’s fifty day simple moving average is $21.64 and its 200 day simple moving average is $21.51. The firm has a market capitalization of $90.29 billion, a P/E ratio of -4.34 and a beta of 1.15. Intel Corporation has a 12 month low of $17.67 and a 12 month high of $31.56. The company has a current ratio of 1.24, a quick ratio of 0.92 and a debt-to-equity ratio of 0.42.

Intel (NASDAQ:INTC) last issued its quarterly earnings results on Thursday, July 24th. The chip maker reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.11). Intel had a negative net margin of 38.64% and a negative return on equity of 3.78%. The firm had revenue of $12.86 billion for the quarter, compared to analysts’ expectations of $11.88 billion. During the same period in the prior year, the company earned $0.02 EPS. The firm’s quarterly revenue was up .5% on a year-over-year basis. As a group, analysts anticipate that Intel Corporation will post -0.11 EPS for the current year.

Wall Street Analysts Forecast Growth

INTC has been the subject of several recent analyst reports. Benchmark reaffirmed a “hold” rating on shares of Intel in a research note on Friday. Wall Street Zen cut Intel from a “hold” rating to a “sell” rating in a research note on Saturday. Morgan Stanley reduced their price objective on Intel from $25.00 to $23.00 and set an “equal weight” rating for the company in a research note on Friday, April 25th. Loop Capital started coverage on Intel in a research note on Monday, July 21st. They issued a “hold” rating and a $25.00 price objective for the company. Finally, Citigroup reissued a “hold” rating on shares of Intel in a research note on Tuesday, July 8th. Six equities research analysts have rated the stock with a sell rating, twenty-six have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $22.30.

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.