Independent Advisor Alliance Boosts Holdings in Intel Corporation (NASDAQ:INTC)

Independent Advisor Alliance lifted its stake in Intel Corporation (NASDAQ:INTC) by 38.5% in the 1st quarter, HoldingsChannel reports. The firm owned 110,907 shares of the chip maker’s stock after buying an additional 30,804 shares during the quarter. Independent Advisor Alliance’s holdings in Intel were worth $2,519,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Cornerstone Advisory LLC lifted its position 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 purchasing an additional 409 shares during the period. Evergreen Capital Management LLC lifted its position 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 purchasing an additional 419 shares during the period. Verdence Capital Advisors LLC lifted its position in shares of Intel by 1.1% in the 1st quarter. Verdence Capital Advisors LLC now owns 45,682 shares of the chip maker’s stock worth $1,037,000 after purchasing an additional 486 shares during the period. Cary Street Partners Investment Advisory LLC lifted its position in shares of Intel by 23.1% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 2,614 shares of the chip maker’s stock worth $59,000 after purchasing an additional 491 shares during the period. Finally, one8zero8 LLC lifted its position in shares of Intel by 4.2% in the 1st quarter. one8zero8 LLC now owns 12,320 shares of the chip maker’s stock worth $280,000 after purchasing an additional 500 shares during the period. 64.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on INTC shares. Wedbush lowered their price target on shares of Intel from $20.00 to $19.00 and set a “neutral” rating for the company in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. lifted their price target on shares of Intel from $20.00 to $21.00 and gave the company an “underweight” rating in a research report on Friday, July 25th. Wall Street Zen cut shares of Intel from a “hold” rating to a “sell” rating in a research report on Saturday, July 26th. Morgan Stanley lowered their price target 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. Finally, Sanford C. Bernstein lowered their price target on shares of Intel from $25.00 to $21.00 and set a “market perform” rating for the company in a research report on Tuesday, April 22nd. Six analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $22.17.

Intel Price Performance

NASDAQ INTC opened at $20.68 on Tuesday. The business’s fifty day moving average is $21.58 and its 200 day moving average is $21.48. Intel Corporation has a fifty-two week low of $17.67 and a fifty-two week high of $27.55. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.92 and a current ratio of 1.24. The company has a market capitalization of $90.52 billion, a PE ratio of -4.34 and a beta of 1.22.

Intel (NASDAQ:INTC) last posted its quarterly earnings data on Thursday, July 24th. The chip maker reported ($0.10) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.11). Intel had a negative return on equity of 3.78% and a negative net margin of 38.64%. The company had revenue of $12.86 billion during the quarter, compared to the consensus estimate of $11.88 billion. During the same period last year, the business earned $0.02 EPS. The firm’s quarterly revenue was up .5% compared to the same quarter last year. Sell-side analysts predict that Intel Corporation will post -0.11 earnings per share 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.