Modern Wealth Management LLC Raises Stock Position in Intel Co. (NASDAQ:INTC)

Modern Wealth Management LLC lifted its holdings in Intel Co. (NASDAQ:INTC) by 53.1% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 18,707 shares of the chip maker’s stock after buying an additional 6,487 shares during the period. Modern Wealth Management LLC’s holdings in Intel were worth $370,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in INTC. CoreFirst Bank & Trust purchased a new stake in Intel during the 4th quarter valued at $34,000. Lynx Investment Advisory purchased a new stake in shares of Intel in the fourth quarter valued at $1,450,000. Angeles Investment Advisors LLC lifted its holdings in shares of Intel by 21.3% in the 4th quarter. Angeles Investment Advisors LLC now owns 17,918 shares of the chip maker’s stock worth $359,000 after acquiring an additional 3,143 shares during the last quarter. Mountain Hill Investment Partners Corp. purchased a new position in shares of Intel during the 4th quarter worth about $2,702,000. Finally, Vanguard Group Inc. grew its holdings in Intel by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 369,099,204 shares of the chip maker’s stock valued at $7,400,439,000 after purchasing an additional 6,143,164 shares during the last quarter. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

Intel Stock Performance

Shares of Intel stock opened at $23.62 on Friday. The firm has a market capitalization of $102.27 billion, a P/E ratio of -5.39 and a beta of 1.02. Intel Co. has a 52 week low of $18.51 and a 52 week high of $45.41. The company has a quick ratio of 0.98, a current ratio of 1.33 and a debt-to-equity ratio of 0.44. The company has a 50 day moving average price of $22.30 and a 200 day moving average price of $22.10.

Intel (NASDAQ:INTC) last posted its quarterly earnings results on Thursday, January 30th. The chip maker reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.14). Intel had a negative return on equity of 3.27% and a negative net margin of 35.32%. Sell-side analysts expect that Intel Co. will post -0.11 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on INTC. Mizuho decreased 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. Citigroup dropped their price objective on Intel from $22.00 to $21.00 and set a “neutral” rating for the company in a report on Tuesday, January 21st. Cantor Fitzgerald increased their target price on Intel from $22.00 to $29.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 18th. Rosenblatt Securities reissued a “sell” rating and set a $20.00 target price on shares of Intel in a research note on Thursday, January 30th. Finally, Bank of America raised shares of Intel from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $19.00 to $25.00 in a research note on Thursday, March 13th. Four investment analysts have rated the stock with a sell rating, twenty-eight have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $27.04.

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.