Intel Co. (NASDAQ:INTC) Stock Position Increased by Summit Securities Group LLC

Summit Securities Group LLC grew its holdings in shares of Intel Co. (NASDAQ:INTC) by 13.6% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 5,682 shares of the chip maker’s stock after acquiring an additional 682 shares during the quarter. Summit Securities Group LLC’s holdings in Intel were worth $114,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of INTC. Quest Partners LLC increased its stake in shares of Intel by 7,370.6% during the third quarter. Quest Partners LLC now owns 1,270 shares of the chip maker’s stock valued at $30,000 after acquiring an additional 1,253 shares during the period. Townsquare Capital LLC raised its stake in shares of Intel by 2.7% in the 3rd quarter. Townsquare Capital LLC now owns 61,109 shares of the chip maker’s stock worth $1,434,000 after buying an additional 1,633 shares in the last quarter. Rockefeller Capital Management L.P. boosted its stake in Intel by 9.6% during the third quarter. Rockefeller Capital Management L.P. now owns 1,353,347 shares of the chip maker’s stock valued at $31,853,000 after buying an additional 118,750 shares in the last quarter. Icon Wealth Advisors LLC grew its holdings in Intel by 8.8% during the third quarter. Icon Wealth Advisors LLC now owns 49,736 shares of the chip maker’s stock worth $1,167,000 after acquiring an additional 4,019 shares during the period. Finally, White Knight Strategic Wealth Advisors LLC bought a new stake in Intel in the third quarter worth about $310,000. Institutional investors own 64.53% of the company’s stock.

Intel Price Performance

Shares of Intel stock opened at $22.71 on Friday. Intel Co. has a 1-year low of $18.51 and a 1-year high of $45.41. The firm has a fifty day simple moving average of $22.33 and a 200-day simple moving average of $22.15. The company has a current ratio of 1.33, a quick ratio of 0.98 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $98.33 billion, a price-to-earnings ratio of -5.18 and a beta of 1.02.

Intel (NASDAQ:INTC) last issued its quarterly 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 net margin of 35.32% and a negative return on equity of 3.27%. On average, sell-side analysts expect that Intel Co. will post -0.11 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Barclays lowered their price objective on shares of Intel from $25.00 to $23.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. Roth Mkm cut their price objective on Intel from $25.00 to $20.00 and set a “neutral” rating for the company in a research report on Friday, January 31st. Benchmark reaffirmed a “hold” rating on shares of Intel in a research report on Friday, January 31st. Bank of America upgraded Intel from an “underperform” rating to a “neutral” rating and increased their price target for the company from $19.00 to $25.00 in a research report on Thursday, March 13th. Finally, Mizuho reduced their price objective on shares of Intel from $23.00 to $21.00 and set a “neutral” rating for the company in a research note on Friday, January 10th. Four analysts have rated the stock with a sell rating, twenty-eight have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $27.04.

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.