Intel Corporation (NASDAQ:INTC) Shares Sold by Hollencrest Capital Management

Hollencrest Capital Management lessened its holdings in Intel Corporation (NASDAQ:INTC) by 3.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 13,981 shares of the chip maker’s stock after selling 500 shares during the quarter. Hollencrest Capital Management’s holdings in Intel were worth $318,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Independent Wealth Network Inc. purchased a new stake in Intel in the first quarter valued at approximately $214,000. Retirement Planning Co of New England Inc. lifted its holdings in Intel by 72.9% in the first quarter. Retirement Planning Co of New England Inc. now owns 55,965 shares of the chip maker’s stock valued at $1,271,000 after acquiring an additional 23,592 shares during the period. Pzena Investment Management LLC acquired a new position in Intel in the first quarter valued at approximately $280,000. Commerzbank Aktiengesellschaft FI lifted its holdings in Intel by 30.2% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 457,040 shares of the chip maker’s stock valued at $10,379,000 after acquiring an additional 105,925 shares during the period. Finally, Bear Mountain Capital Inc. lifted its holdings in Intel by 147.6% in the first quarter. Bear Mountain Capital Inc. now owns 1,874 shares of the chip maker’s stock valued at $43,000 after acquiring an additional 1,117 shares during the period. Institutional investors and hedge funds own 64.53% of the company’s stock.

Intel Price Performance

Shares of NASDAQ INTC opened at $23.08 on Friday. The firm has a market cap of $100.66 billion, a PE ratio of -5.16 and a beta of 1.15. The business has a 50 day moving average price of $21.53 and a two-hundred day moving average price of $21.38. The company has a quick ratio of 0.93, a current ratio of 1.31 and a debt-to-equity ratio of 0.42. Intel Corporation has a fifty-two week low of $17.67 and a fifty-two week high of $36.30.

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 3.15% and a negative net margin of 36.19%. The company had revenue of $12.67 billion during the quarter, compared to analyst estimates of $12.26 billion. During the same quarter last year, the firm earned $0.18 EPS. The business’s revenue was down .4% on a year-over-year basis. Sell-side analysts expect that Intel Corporation will post -0.11 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Wedbush reduced their price objective on Intel from $20.00 to $19.00 and set a “neutral” rating for the company in a research note on Wednesday, April 23rd. Susquehanna dropped their price objective on shares of Intel from $24.00 to $22.00 and set a “neutral” rating for the company in a report on Wednesday, April 16th. Cantor Fitzgerald reduced their target price on shares of Intel from $29.00 to $20.00 and set a “neutral” rating on the stock in a report on Monday, April 21st. JPMorgan Chase & Co. dropped their price target on shares of Intel from $23.00 to $20.00 and set an “underweight” rating for the company in a research note on Friday, April 25th. Finally, Rosenblatt Securities reduced their price objective on Intel from $18.00 to $14.00 and set a “sell” rating on the stock in a research note on Friday, April 25th. Five equities research analysts have rated the stock with a sell rating, twenty-six have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Intel currently has an average rating of “Hold” and a consensus target price of $21.95.

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.