Falcon Wealth Planning Buys 2,744 Shares of Intel Co. (NASDAQ:INTC)

Falcon Wealth Planning boosted its position in shares of Intel Co. (NASDAQ:INTC) by 28.2% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 12,464 shares of the chip maker’s stock after purchasing an additional 2,744 shares during the quarter. Falcon Wealth Planning’s holdings in Intel were worth $292,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Intel by 0.9% in the first quarter. Vanguard Group Inc. now owns 389,098,435 shares of the chip maker’s stock worth $17,186,478,000 after purchasing an additional 3,310,528 shares during the period. Capital International Investors boosted its position in shares of Intel by 16.0% during the first quarter. Capital International Investors now owns 112,093,582 shares of the chip maker’s stock worth $4,951,174,000 after purchasing an additional 15,475,631 shares in the last quarter. Primecap Management Co. CA grew its stake in Intel by 2.2% in the second quarter. Primecap Management Co. CA now owns 77,822,587 shares of the chip maker’s stock valued at $2,410,166,000 after acquiring an additional 1,697,550 shares during the period. Van ECK Associates Corp raised its position in shares of Intel by 27.2% during the third quarter. Van ECK Associates Corp now owns 44,013,936 shares of the chip maker’s stock worth $967,426,000 after purchasing an additional 9,422,136 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Intel by 6.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 39,841,750 shares of the chip maker’s stock valued at $1,759,811,000 after purchasing an additional 2,457,243 shares in the last quarter. 64.53% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on INTC. New Street Research cut shares of Intel from a “buy” rating to a “neutral” rating in a report on Friday, August 2nd. Mizuho lifted their price target on Intel from $22.00 to $23.00 and gave the company a “neutral” rating in a research note on Friday. Northland Securities reduced their price objective on Intel from $42.00 to $28.00 and set an “outperform” rating for the company in a research report on Friday. Argus lowered Intel from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Finally, The Goldman Sachs Group decreased their price target on shares of Intel from $22.00 to $21.00 and set a “sell” rating for the company in a research note on Thursday, October 17th. 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 company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $30.12.

Intel Trading Up 2.6 %

Shares of NASDAQ INTC traded up $0.59 during trading on Tuesday, reaching $23.11. The company had a trading volume of 18,407,477 shares, compared to its average volume of 59,314,133. The company’s fifty day moving average price is $21.84 and its 200-day moving average price is $26.81. The company has a quick ratio of 0.97, a current ratio of 1.31 and a debt-to-equity ratio of 0.44. The stock has a market cap of $98.82 billion, a P/E ratio of -6.05 and a beta of 1.03. Intel Co. has a 12 month low of $18.51 and a 12 month high of $51.28.

Intel (NASDAQ:INTC) last released its earnings results 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 net margin of 29.42% and a negative return on equity of 1.71%. 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 earned $0.28 EPS. Intel’s quarterly revenue was down 6.3% on a year-over-year basis. As a group, research analysts expect that Intel Co. will post -0.47 earnings per share 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.