Beacon Harbor Wealth Advisors Inc. Buys 1,000 Shares of Intel Co. (NASDAQ:INTC)

Beacon Harbor Wealth Advisors Inc. increased its position in Intel Co. (NASDAQ:INTC) by 11.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,084 shares of the chip maker’s stock after purchasing an additional 1,000 shares during the quarter. Beacon Harbor Wealth Advisors Inc.’s holdings in Intel were worth $237,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. America First Investment Advisors LLC bought a new stake in shares of Intel in the second quarter valued at about $25,000. Cyrus J. Lawrence LLC purchased a new stake in Intel during the second quarter worth $27,000. Spartan Fund Management Inc. bought a new stake in Intel during the 2nd quarter valued at $31,000. Financial Connections Group Inc. purchased a new position in shares of Intel in the 2nd quarter valued at $32,000. Finally, Triad Wealth Partners LLC purchased a new stake in shares of Intel during the 2nd quarter worth $33,000. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

Intel Stock Performance

NASDAQ:INTC opened at $26.23 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.97 and a current ratio of 1.31. The stock has a market capitalization of $113.13 billion, a PE ratio of -7.05 and a beta of 1.03. Intel Co. has a fifty-two week low of $18.51 and a fifty-two week high of $51.28. The company has a fifty day moving average of $22.01 and a two-hundred day moving average of $26.72.

Intel (NASDAQ:INTC) last posted its quarterly earnings data on Thursday, October 31st. The chip maker reported ($0.46) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.44). Intel had a negative return on equity of 1.71% and a negative net margin of 29.42%. The firm had revenue of $13.30 billion during the quarter, compared to analyst estimates of $13.02 billion. During the same quarter in the previous year, the firm posted $0.28 earnings per share. The company’s quarterly revenue was down 6.3% on a year-over-year basis. As a group, research analysts forecast that Intel Co. will post -0.47 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have commented on the stock. Needham & Company LLC reissued a “hold” rating on shares of Intel in a research report on Friday, November 1st. Hsbc Global Res cut shares of Intel from a “hold” rating to a “moderate sell” rating in a research report on Friday, August 2nd. Stifel Nicolaus reaffirmed a “hold” rating and issued a $25.00 price target (down from $28.00) on shares of Intel in a report on Friday, October 25th. Bank of America lowered Intel from a “neutral” rating to an “underperform” rating and decreased their price objective for the company from $35.00 to $23.00 in a report on Friday, August 2nd. Finally, Argus downgraded Intel from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Six equities 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 MarketBeat, the company currently has an average rating of “Hold” and an average target price of $30.12.

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.