Linscomb Wealth Inc. Sells 5,464 Shares of Intel Corporation (NASDAQ:INTC)

Linscomb Wealth Inc. lessened its holdings in shares of Intel Corporation (NASDAQ:INTC) by 30.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,742 shares of the chip maker’s stock after selling 5,464 shares during the quarter. Linscomb Wealth Inc.’s holdings in Intel were worth $289,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in Intel by 2.2% in the first quarter. Vanguard Group Inc. now owns 377,390,437 shares of the chip maker’s stock worth $8,570,537,000 after purchasing an additional 8,291,233 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Intel by 8.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 63,263,339 shares of the chip maker’s stock worth $1,268,430,000 after purchasing an additional 4,793,927 shares in the last quarter. Northern Trust Corp raised its holdings in Intel by 15.5% in the fourth quarter. Northern Trust Corp now owns 45,811,555 shares of the chip maker’s stock worth $918,522,000 after purchasing an additional 6,157,853 shares in the last quarter. Invesco Ltd. raised its holdings in Intel by 1.3% in the first quarter. Invesco Ltd. now owns 43,651,076 shares of the chip maker’s stock worth $991,316,000 after purchasing an additional 562,246 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Intel by 3.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 35,025,596 shares of the chip maker’s stock worth $795,431,000 after purchasing an additional 1,086,836 shares in the last quarter. Institutional investors own 64.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on INTC shares. UBS Group increased their target price on Intel from $21.00 to $25.00 and gave the stock a “neutral” rating in a research note on Monday, July 14th. Stifel Nicolaus increased their target price on Intel from $21.00 to $24.50 and gave the stock a “hold” rating in a research note on Monday, July 21st. Loop Capital started coverage on Intel in a research note on Monday, July 21st. They issued a “hold” rating and a $25.00 target price on the stock. Morgan Stanley cut their target price on Intel from $25.00 to $23.00 and set an “equal weight” rating on the stock in a research note on Friday, April 25th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Intel in a research report on Friday, July 25th. Six equities research analysts have rated the stock with a sell rating, twenty-three have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $22.17.

Intel Price Performance

INTC opened at $20.68 on Tuesday. The business has a fifty day moving average of $21.58 and a 200 day moving average of $21.48. Intel Corporation has a 52-week low of $17.67 and a 52-week high of $27.55. The company has a quick ratio of 0.92, a current ratio of 1.24 and a debt-to-equity ratio of 0.42. The stock has a market cap of $90.52 billion, a P/E 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) earnings per share (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 business had revenue of $12.86 billion for the quarter, compared to analysts’ expectations of $11.88 billion. During the same quarter in the previous year, the firm earned $0.02 EPS. Intel’s revenue was up .5% compared to the same quarter last year. As a group, sell-side 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.