Formula Growth Ltd. Makes New Investment in Intel Co. (NASDAQ:INTC)

Formula Growth Ltd. purchased a new position in Intel Co. (NASDAQ:INTC) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 65,000 shares of the chip maker’s stock, valued at approximately $1,303,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in INTC. Relyea Zuckerberg Hanson LLC raised its position in shares of Intel by 211.6% in the 4th quarter. Relyea Zuckerberg Hanson LLC now owns 28,898 shares of the chip maker’s stock worth $579,000 after purchasing an additional 19,625 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Intel by 4.4% during the third quarter. Principal Financial Group Inc. now owns 4,827,123 shares of the chip maker’s stock valued at $113,244,000 after buying an additional 204,200 shares during the last quarter. Empirical Asset Management LLC bought a new stake in shares of Intel during the fourth quarter valued at approximately $276,000. InvesTrust purchased a new position in Intel in the 4th quarter worth approximately $3,696,000. Finally, Rheos Capital Works Inc. lifted its position in Intel by 12.1% in the 4th quarter. Rheos Capital Works Inc. now owns 277,000 shares of the chip maker’s stock valued at $5,554,000 after acquiring an additional 30,000 shares in the last quarter. Institutional investors own 64.53% of the company’s stock.

Wall Street Analyst Weigh In

INTC has been the subject of several recent analyst reports. Wells Fargo & Company decreased their price target on Intel from $28.00 to $25.00 and set an “equal weight” rating for the company in a research note on Friday, January 31st. Bank of America raised Intel from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from $19.00 to $25.00 in a research report on Thursday, March 13th. Truist Financial lowered their target price on shares of Intel from $22.00 to $21.00 and set a “hold” rating on the stock in a research note on Friday, January 31st. Rosenblatt Securities reiterated a “sell” rating and issued a $20.00 price target on shares of Intel in a research note on Thursday, January 30th. Finally, Susquehanna lowered their price objective on shares of Intel from $24.00 to $22.00 and set a “neutral” rating on the stock in a research report on Wednesday. Four research analysts have rated the stock with a sell rating, twenty-eight have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Intel presently has an average rating of “Hold” and a consensus target price of $25.38.

Intel Trading Down 1.6 %

Shares of Intel stock opened at $18.93 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.98 and a current ratio of 1.33. The company has a fifty day moving average of $22.34 and a 200 day moving average of $21.96. The company has a market capitalization of $82.55 billion, a P/E ratio of -4.32 and a beta of 1.13. Intel Co. has a fifty-two week low of $17.67 and a fifty-two week high of $37.16.

Intel (NASDAQ:INTC) last released its earnings results on Thursday, January 30th. The chip maker reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.14). Intel had a negative return on equity of 3.27% and a negative net margin of 35.32%. On average, sell-side analysts anticipate that Intel Co. 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.