Marks Group Wealth Management Inc Lowers Holdings in Intel Co. (NASDAQ:INTC)

Marks Group Wealth Management Inc lowered its position in shares of Intel Co. (NASDAQ:INTC) by 74.4% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,052 shares of the chip maker’s stock after selling 32,148 shares during the quarter. Marks Group Wealth Management Inc’s holdings in Intel were worth $259,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in INTC. America First Investment Advisors LLC acquired a new stake in Intel in the second quarter valued at about $25,000. Cyrus J. Lawrence LLC purchased a new position in shares of Intel during the 2nd quarter worth approximately $27,000. Spartan Fund Management Inc. purchased a new position in shares of Intel during the 2nd quarter worth approximately $31,000. Financial Connections Group Inc. acquired a new stake in shares of Intel in the 2nd quarter valued at approximately $32,000. Finally, Triad Wealth Partners LLC purchased a new stake in shares of Intel in the second quarter valued at approximately $33,000. Institutional investors and hedge funds own 64.53% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on INTC shares. Bank of America downgraded Intel from a “neutral” rating to an “underperform” rating and reduced their target price for the company from $35.00 to $23.00 in a report on Friday, August 2nd. Truist Financial raised their price objective on shares of Intel from $25.00 to $26.00 and gave the company a “hold” rating in a research note on Friday, November 1st. HSBC lowered shares of Intel from a “hold” rating to a “reduce” rating in a research report on Friday, August 2nd. The Goldman Sachs Group reduced their price target on shares of Intel from $22.00 to $21.00 and set a “sell” rating for the company in a research report on Thursday, October 17th. Finally, Needham & Company LLC restated a “hold” rating on shares of Intel in a report on Friday, November 1st. Six analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $30.12.

Intel Stock Up 7.4 %

Shares of INTC opened at $25.05 on Thursday. Intel Co. has a fifty-two week low of $18.51 and a fifty-two week high of $51.28. The company’s fifty day moving average is $22.01 and its two-hundred day moving average is $26.72. The firm has a market cap of $108.04 billion, a PE ratio of -6.73 and a beta of 1.03. The company has a quick ratio of 0.97, a current ratio of 1.31 and a debt-to-equity ratio of 0.44.

Intel (NASDAQ:INTC) last issued its earnings results on Thursday, October 31st. The chip maker reported ($0.46) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.44). The firm had revenue of $13.30 billion during the quarter, compared to analyst estimates of $13.02 billion. Intel had a negative net margin of 29.42% and a negative return on equity of 1.71%. Intel’s revenue was down 6.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.28 EPS. Analysts forecast 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.