NorthRock Partners LLC Boosts Holdings in Intel Co. (NASDAQ:INTC)

NorthRock Partners LLC grew its holdings in shares of Intel Co. (NASDAQ:INTC) by 30.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 20,783 shares of the chip maker’s stock after acquiring an additional 4,800 shares during the quarter. NorthRock Partners LLC’s holdings in Intel were worth $488,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. William B. Walkup & Associates Inc. purchased a new position in shares of Intel in the second quarter worth $2,178,000. Fortis Group Advisors LLC increased its stake in shares of Intel by 1,052.9% in the third quarter. Fortis Group Advisors LLC now owns 172,996 shares of the chip maker’s stock worth $4,058,000 after buying an additional 157,991 shares during the period. Private Advisory Group LLC purchased a new position in shares of Intel in the third quarter worth $8,045,000. Sanibel Captiva Trust Company Inc. increased its stake in shares of Intel by 21.1% in the third quarter. Sanibel Captiva Trust Company Inc. now owns 279,591 shares of the chip maker’s stock worth $6,559,000 after buying an additional 48,765 shares during the period. Finally, Forsta AP Fonden increased its stake in shares of Intel by 4.6% in the third quarter. Forsta AP Fonden now owns 949,146 shares of the chip maker’s stock worth $22,267,000 after buying an additional 41,900 shares during the period. 64.53% of the stock is owned by hedge funds and other institutional investors.

Intel Price Performance

INTC opened at $23.32 on Wednesday. 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 $99.72 billion, a P/E ratio of -6.27 and a beta of 1.03. The company’s 50-day simple moving average is $21.90 and its two-hundred day simple moving average is $26.73. Intel Co. has a 52-week low of $18.51 and a 52-week high of $51.28.

Intel (NASDAQ:INTC) last posted 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). The company had revenue of $13.30 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.28 EPS. As a group, analysts predict that Intel Co. will post -0.47 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Hsbc Global Res downgraded shares of Intel from a “hold” rating to a “moderate sell” rating in a research note on Friday, August 2nd. Northland Securities cut their price target on shares of Intel from $42.00 to $28.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Wedbush cut their price target on shares of Intel from $32.50 to $25.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Truist Financial lifted their price target on shares of Intel from $25.00 to $26.00 and gave the company a “hold” rating in a report on Friday, November 1st. Finally, Daiwa America upgraded shares of Intel to a “hold” rating in a report on Monday, August 26th. Six investment analysts have rated the stock with a sell rating, twenty-five have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target 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.