Waterfront Wealth Inc. Cuts Stock Holdings in Intel Co. (NASDAQ:INTC)

Waterfront Wealth Inc. reduced its position in Intel Co. (NASDAQ:INTC) by 44.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 26,792 shares of the chip maker’s stock after selling 21,660 shares during the period. Waterfront Wealth Inc.’s holdings in Intel were worth $537,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in INTC. Foundations Investment Advisors LLC raised its position in Intel by 5.4% in the 3rd quarter. Foundations Investment Advisors LLC now owns 31,071 shares of the chip maker’s stock worth $729,000 after buying an additional 1,589 shares during the last quarter. International Assets Investment Management LLC raised its holdings in shares of Intel by 3,505.0% during the third quarter. International Assets Investment Management LLC now owns 2,923,684 shares of the chip maker’s stock valued at $68,590,000 after purchasing an additional 2,842,584 shares during the last quarter. Hennion & Walsh Asset Management Inc. lifted its position in Intel by 32.2% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 10,387 shares of the chip maker’s stock valued at $244,000 after purchasing an additional 2,531 shares during the period. Legacy Capital Group California Inc. boosted its holdings in Intel by 14.9% in the third quarter. Legacy Capital Group California Inc. now owns 32,544 shares of the chip maker’s stock worth $763,000 after purchasing an additional 4,228 shares during the last quarter. Finally, Silver Oak Securities Incorporated grew its position in Intel by 12.1% in the 3rd quarter. Silver Oak Securities Incorporated now owns 28,598 shares of the chip maker’s stock worth $653,000 after purchasing an additional 3,087 shares during the period. 64.53% of the stock is owned by institutional investors.

Intel Stock Performance

NASDAQ INTC opened at $24.87 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.33 and a quick ratio of 0.98. Intel Co. has a 1-year low of $18.51 and a 1-year high of $46.63. The business has a 50 day simple moving average of $20.75 and a two-hundred day simple moving average of $21.62. The stock has a market capitalization of $107.67 billion, a PE ratio of -5.68 and a beta of 1.08.

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

Analyst Ratings Changes

A number of equities analysts have recently issued reports on INTC shares. UBS Group dropped their price target on Intel from $26.00 to $23.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 21st. JPMorgan Chase & Co. reduced their price target on shares of Intel from $26.00 to $23.00 and set an “underweight” rating for the company in a research report on Friday, January 31st. Citigroup dropped their price objective on shares of Intel from $22.00 to $21.00 and set a “neutral” rating on the stock in a report on Tuesday, January 21st. Truist Financial reduced their target price on shares of Intel from $22.00 to $21.00 and set a “hold” rating for the company in a report on Friday, January 31st. Finally, HSBC upgraded shares of Intel from a “reduce” rating to a “hold” rating in a research note on Tuesday, January 21st. Five research analysts have rated the stock with a sell rating, twenty-seven have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, Intel currently has an average rating of “Hold” and a consensus price target of $26.88.

About Intel

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.