Princeton Global Asset Management LLC Sells 10,169 Shares of Intel Co. (NASDAQ:INTC)

Princeton Global Asset Management LLC reduced its position in Intel Co. (NASDAQ:INTC) by 84.7% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,831 shares of the chip maker’s stock after selling 10,169 shares during the period. Princeton Global Asset Management LLC’s holdings in Intel were worth $43,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of INTC. Norden Group LLC boosted its holdings in shares of Intel by 27.8% in the 1st quarter. Norden Group LLC now owns 14,412 shares of the chip maker’s stock valued at $637,000 after buying an additional 3,133 shares in the last quarter. Jennison Associates LLC raised its position in shares of Intel by 71.4% in the 1st quarter. Jennison Associates LLC now owns 1,048,893 shares of the chip maker’s stock valued at $46,330,000 after purchasing an additional 437,060 shares during the last quarter. Comprehensive Financial Consultants Institutional Inc. raised its position in shares of Intel by 5.0% in the 1st 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 last quarter. Proficio Capital Partners LLC raised its position in shares of Intel by 3.9% in the 1st quarter. Proficio Capital Partners LLC now owns 9,067 shares of the chip maker’s stock valued at $400,000 after purchasing an additional 343 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S raised its position in shares of Intel by 5.1% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 406,642 shares of the chip maker’s stock valued at $17,961,000 after purchasing an additional 19,626 shares during the last quarter. 64.53% of the stock is currently owned by institutional investors.

Intel Price Performance

Intel stock opened at $23.20 on Monday. The company’s fifty day moving average price is $21.79 and its 200 day moving average price is $26.90. Intel Co. has a 1 year low of $18.51 and a 1 year high of $51.28. The stock has a market capitalization of $99.20 billion, a P/E ratio of -6.24 and a beta of 1.03. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.24 and a current ratio of 1.59.

Intel (NASDAQ:INTC) last released its quarterly earnings results on Thursday, August 1st. The chip maker reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.08). Intel had a negative net margin of 29.42% and a negative return on equity of 1.68%. 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 posted ($0.05) EPS. Intel’s revenue was down .8% compared to the same quarter last year. As a group, equities research analysts anticipate that Intel Co. will post -0.47 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

INTC has been the subject of several research analyst reports. Stifel Nicolaus reaffirmed a “hold” rating and issued a $25.00 price objective (down from $28.00) on shares of Intel in a research report on Friday, October 25th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Intel from $27.00 to $25.00 and set a “hold” rating for the company in a research report on Thursday, October 3rd. Wedbush decreased their price objective on shares of Intel from $32.50 to $25.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. StockNews.com lowered shares of Intel from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. Finally, Roth Mkm reduced their price target on shares of Intel from $35.00 to $25.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Six equities research analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company currently 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.