Focused Wealth Management Inc Boosts Stock Position in Intel Co. (NASDAQ:INTC)

Focused Wealth Management Inc lifted its stake in Intel Co. (NASDAQ:INTC) by 35.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 75,448 shares of the chip maker’s stock after acquiring an additional 19,551 shares during the period. Focused Wealth Management Inc’s holdings in Intel were worth $1,770,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. Capital International Investors raised its position in shares of Intel by 16.0% in the first quarter. Capital International Investors now owns 112,093,582 shares of the chip maker’s stock worth $4,951,174,000 after buying an additional 15,475,631 shares in the last quarter. Van ECK Associates Corp raised its holdings in shares of Intel by 60.5% in the 2nd quarter. Van ECK Associates Corp now owns 34,591,800 shares of the chip maker’s stock valued at $1,071,308,000 after acquiring an additional 13,035,566 shares in the last quarter. Davis Selected Advisers boosted its position in shares of Intel by 86.2% during the 2nd quarter. Davis Selected Advisers now owns 12,642,316 shares of the chip maker’s stock valued at $391,533,000 after acquiring an additional 5,851,098 shares during the last quarter. Caxton Associates LP purchased a new position in shares of Intel during the second quarter worth about $162,592,000. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of Intel by 2,681.1% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,431,749 shares of the chip maker’s stock worth $137,251,000 after purchasing an additional 4,272,395 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 INTC opened at $23.32 on Wednesday. The company has a quick ratio of 0.97, a current ratio of 1.31 and a debt-to-equity ratio of 0.44. The stock has a market cap of $99.72 billion, a P/E ratio of -6.27 and a beta of 1.03. The business’s 50 day moving average price is $21.90 and its 200-day moving average price is $26.73. Intel Co. has a 52 week low of $18.51 and a 52 week high of $51.28.

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 the consensus estimate of ($0.02) by ($0.44). Intel had a negative net margin of 29.42% and a negative return on equity of 1.71%. The firm had revenue of $13.30 billion for the quarter, compared to the consensus estimate of $13.02 billion. During the same period last year, the business earned $0.28 EPS. Intel’s revenue was down 6.3% on a year-over-year basis. Equities research analysts anticipate that Intel Co. will post -0.47 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have issued reports on INTC. Morgan Stanley dropped their target price on shares of Intel from $36.00 to $25.00 and set an “equal weight” rating for the company in a research report on Friday, August 2nd. Roth Mkm cut their target price 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. HSBC downgraded Intel from a “hold” rating to a “reduce” rating in a research report on Friday, August 2nd. New Street Research cut Intel from a “buy” rating to a “neutral” rating in a report on Friday, August 2nd. Finally, Mizuho raised their price objective on Intel from $22.00 to $23.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Six investment analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average 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.