Intel Co. (NASDAQ:INTC) Shares Sold by Formidable Asset Management LLC

Formidable Asset Management LLC reduced its holdings in Intel Co. (NASDAQ:INTC) by 6.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,810 shares of the chip maker’s stock after selling 1,951 shares during the quarter. Formidable Asset Management LLC’s holdings in Intel were worth $578,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in INTC. Sound Income Strategies LLC increased its position in shares of Intel by 20.5% during the 4th quarter. Sound Income Strategies LLC now owns 7,551 shares of the chip maker’s stock valued at $151,000 after purchasing an additional 1,285 shares during the period. CX Institutional acquired a new position in shares of Intel during the 4th quarter valued at $153,000. Exchange Traded Concepts LLC increased its position in shares of Intel by 2.1% during the 4th quarter. Exchange Traded Concepts LLC now owns 279,031 shares of the chip maker’s stock valued at $5,595,000 after purchasing an additional 5,616 shares during the period. Atlas Private Wealth Advisors increased its position in shares of Intel by 75.4% during the 4th quarter. Atlas Private Wealth Advisors now owns 16,569 shares of the chip maker’s stock valued at $332,000 after purchasing an additional 7,124 shares during the period. Finally, Accel Wealth Management increased its position in shares of Intel by 109.8% during the 4th quarter. Accel Wealth Management now owns 50,454 shares of the chip maker’s stock valued at $1,012,000 after purchasing an additional 26,411 shares during the period. 64.53% of the stock is currently owned by institutional investors and hedge funds.

Intel Stock Performance

Shares of Intel stock opened at $20.05 on Friday. The stock has a market cap of $87.46 billion, a PE ratio of -4.58 and a beta of 1.15. The business has a fifty day simple moving average of $21.07 and a 200-day simple moving average of $21.60. The company has a quick ratio of 0.98, a current ratio of 1.33 and a debt-to-equity ratio of 0.44. Intel Co. has a 12 month low of $17.67 and a 12 month high of $37.16.

Intel (NASDAQ:INTC) last issued its earnings results on Thursday, April 24th. The chip maker reported $0.13 EPS for the quarter, topping the consensus estimate of $0.01 by $0.12. Intel had a negative return on equity of 3.27% and a negative net margin of 35.32%. The business had revenue of $12.67 billion during the quarter, compared to analysts’ expectations of $12.26 billion. During the same quarter last year, the firm posted $0.18 earnings per share. Intel’s revenue was down .4% compared to the same quarter last year. On average, sell-side analysts anticipate that Intel Co. will post -0.11 EPS for the current fiscal year.

Analyst Ratings Changes

INTC has been the topic of several research analyst reports. Wells Fargo & Company lowered 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. Stifel Nicolaus reduced their price objective on Intel from $25.00 to $21.00 and set a “hold” rating for the company in a research note on Friday, January 31st. Wall Street Zen raised Intel from a “sell” rating to a “hold” rating in a research note on Saturday. Cantor Fitzgerald reduced their price objective on Intel from $29.00 to $20.00 and set a “neutral” rating for the company in a research note on Monday, April 21st. Finally, UBS Group reduced their price objective on Intel from $22.00 to $21.00 and set a “neutral” rating for the company in a research note on Friday, April 25th. Six research analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Intel currently has a consensus rating of “Hold” and a consensus target price of $21.57.

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.