Summit Securities Group LLC Acquires 682 Shares of Intel Co. (NASDAQ:INTC)

Summit Securities Group LLC increased its holdings in Intel Co. (NASDAQ:INTC) by 13.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 5,682 shares of the chip maker’s stock after buying an additional 682 shares during the quarter. Summit Securities Group LLC’s holdings in Intel were worth $114,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in INTC. Quest Partners LLC boosted its stake in Intel by 7,370.6% in the 3rd quarter. Quest Partners LLC now owns 1,270 shares of the chip maker’s stock valued at $30,000 after buying an additional 1,253 shares in the last quarter. Townsquare Capital LLC boosted its stake in shares of Intel by 2.7% in the 3rd quarter. Townsquare Capital LLC now owns 61,109 shares of the chip maker’s stock valued at $1,434,000 after purchasing an additional 1,633 shares in the last quarter. Rockefeller Capital Management L.P. grew its holdings in shares of Intel by 9.6% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 1,353,347 shares of the chip maker’s stock worth $31,853,000 after purchasing an additional 118,750 shares during the last quarter. Icon Wealth Advisors LLC increased its position in shares of Intel by 8.8% during the 3rd quarter. Icon Wealth Advisors LLC now owns 49,736 shares of the chip maker’s stock worth $1,167,000 after purchasing an additional 4,019 shares in the last quarter. Finally, White Knight Strategic Wealth Advisors LLC bought a new position in Intel during the 3rd quarter valued at about $310,000. Institutional investors own 64.53% of the company’s stock.

Intel Trading Down 3.9 %

NASDAQ INTC opened at $22.71 on Friday. Intel Co. has a 52 week low of $18.51 and a 52 week high of $45.41. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.98 and a current ratio of 1.33. The stock’s 50 day moving average price is $22.33 and its two-hundred day moving average price is $22.15. The stock has a market capitalization of $98.33 billion, a price-to-earnings ratio of -5.18 and a beta of 1.02.

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

Wall Street Analysts Forecast Growth

Several analysts have weighed in on INTC shares. Hsbc Global Res raised shares of Intel from a “moderate sell” rating to a “hold” rating in a research note on Tuesday, January 21st. UBS Group reduced their price objective on Intel from $26.00 to $23.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 21st. Bank of America upgraded Intel from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from $19.00 to $25.00 in a research report on Thursday, March 13th. Mizuho dropped their price objective on Intel from $23.00 to $21.00 and set a “neutral” rating for the company in a report on Friday, January 10th. Finally, Benchmark reaffirmed a “hold” rating on shares of Intel in a research note on Friday, January 31st. Four 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’s stock. According to data from MarketBeat.com, Intel currently has a consensus 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.