Beacon Harbor Wealth Advisors Inc. Boosts Stock Position in Intel Co. (NASDAQ:INTC)

Beacon Harbor Wealth Advisors Inc. lifted its position in Intel Co. (NASDAQ:INTC) by 11.0% in the third quarter, HoldingsChannel reports. The firm owned 10,084 shares of the chip maker’s stock after buying an additional 1,000 shares during the period. Beacon Harbor Wealth Advisors Inc.’s holdings in Intel were worth $237,000 at the end of the most recent quarter.

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

Intel Stock Up 4.7 %

Shares of NASDAQ:INTC opened at $26.23 on Friday. The firm has a 50 day simple moving average of $22.01 and a 200-day simple moving average of $26.72. Intel Co. has a twelve month low of $18.51 and a twelve month high of $51.28. The company has a current ratio of 1.31, a quick ratio of 0.97 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $113.13 billion, a PE ratio of -7.05 and a beta of 1.03.

Intel (NASDAQ:INTC) last announced its quarterly 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 company had revenue of $13.30 billion during the quarter, compared to analysts’ expectations 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 period last year, the firm earned $0.28 earnings per share. On average, equities analysts predict that Intel Co. will post -0.47 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Cantor Fitzgerald reduced their price target on shares of Intel from $40.00 to $27.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Truist Financial boosted their target price on Intel from $25.00 to $26.00 and gave the company a “hold” rating in a research report on Friday, November 1st. Mizuho raised their price target on Intel from $22.00 to $23.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Roth Mkm cut their price objective on Intel from $35.00 to $25.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Finally, Hsbc Global Res lowered Intel from a “hold” rating to a “moderate sell” rating in a research note on Friday, August 2nd. Six 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. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price 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.