Intel Co. (NASDAQ:INTC) Shares Bought by 1620 Investment Advisors Inc.

1620 Investment Advisors Inc. lifted its position in shares of Intel Co. (NASDAQ:INTC) by 28.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,675 shares of the chip maker’s stock after acquiring an additional 3,045 shares during the quarter. 1620 Investment Advisors Inc.’s holdings in Intel were worth $321,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Guardian Capital Advisors LP lifted its holdings in shares of Intel by 2.1% in the 1st quarter. Guardian Capital Advisors LP now owns 16,030 shares of the chip maker’s stock valued at $708,000 after buying an additional 328 shares during the period. Richard C. Young & CO. LTD. grew its stake in shares of Intel by 0.9% during the 1st quarter. Richard C. Young & CO. LTD. now owns 37,489 shares of the chip maker’s stock worth $1,656,000 after purchasing an additional 338 shares during the period. Key Financial Inc increased its holdings in shares of Intel by 4.1% in the 2nd quarter. Key Financial Inc now owns 8,685 shares of the chip maker’s stock valued at $269,000 after purchasing an additional 340 shares in the last quarter. Comprehensive Financial Consultants Institutional Inc. lifted its stake in shares of Intel by 5.0% in the first quarter. Comprehensive Financial Consultants Institutional Inc. now owns 7,151 shares of the chip maker’s stock valued at $316,000 after purchasing an additional 342 shares during the period. Finally, Proficio Capital Partners LLC grew its position in Intel by 3.9% during the first quarter. Proficio Capital Partners LLC now owns 9,067 shares of the chip maker’s stock worth $400,000 after buying an additional 343 shares during the period. Institutional investors and hedge funds own 64.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on INTC. Hsbc Global Res cut Intel from a “hold” rating to a “moderate sell” rating in a research report on Friday, August 2nd. Bank of America downgraded Intel from a “neutral” rating to an “underperform” rating and lowered their price objective for the company from $35.00 to $23.00 in a research report on Friday, August 2nd. UBS Group decreased their price target on shares of Intel from $37.00 to $32.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Northland Securities dropped their target price on shares of Intel from $68.00 to $42.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Finally, Cantor Fitzgerald reduced their price objective on Intel from $40.00 to $27.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Six investment analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, Intel presently has an average rating of “Hold” and an average target price of $30.80.

Insider Activity at Intel

In other news, CEO Patrick P. Gelsinger bought 12,500 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was purchased at an average price of $20.16 per share, for a total transaction of $252,000.00. Following the transaction, the chief executive officer now owns 37,975 shares in the company, valued at approximately $765,576. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 0.04% of the stock is currently owned by insiders.

Intel Stock Down 2.6 %

NASDAQ:INTC opened at $22.30 on Thursday. The company has a current ratio of 1.59, a quick ratio of 1.24 and a debt-to-equity ratio of 0.40. The stock has a 50 day moving average of $21.71 and a 200-day moving average of $27.15. The firm has a market capitalization of $94.93 billion, a PE ratio of 23.23 and a beta of 1.03. Intel Co. has a 52 week low of $18.51 and a 52 week high of $51.28.

Intel (NASDAQ:INTC) last issued its earnings results on Thursday, August 1st. The chip maker reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.08). Intel had a return on equity of 1.78% and a net margin of 1.77%. The company had revenue of $12.80 billion during the quarter, compared to analyst estimates of $12.92 billion. During the same period in the prior year, the business earned ($0.05) earnings per share. Intel’s quarterly revenue was down .8% on a year-over-year basis. Analysts predict that Intel Co. will post -0.47 EPS for the current 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.