Perkins Capital Management Inc. Cuts Stock Holdings in Intel Co. (NASDAQ:INTC)

Perkins Capital Management Inc. decreased its holdings in shares of Intel Co. (NASDAQ:INTC) by 16.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,950 shares of the chip maker’s stock after selling 3,450 shares during the quarter. Perkins Capital Management Inc.’s holdings in Intel were worth $398,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of INTC. America First Investment Advisors LLC purchased a new stake in Intel in the second quarter worth approximately $25,000. Cyrus J. Lawrence LLC purchased a new stake in shares of Intel during the second quarter valued at approximately $27,000. Spartan Fund Management Inc. purchased a new stake in shares of Intel during the second quarter valued at approximately $31,000. Financial Connections Group Inc. purchased a new stake in shares of Intel during the second quarter valued at approximately $32,000. Finally, Triad Wealth Partners LLC purchased a new stake in shares of Intel during the second quarter valued at approximately $33,000. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Intel Trading Up 7.4 %

NASDAQ INTC opened at $25.05 on Thursday. Intel Co. has a 12 month low of $18.51 and a 12 month high of $51.28. The stock has a market cap of $108.04 billion, a P/E ratio of -6.73 and a beta of 1.03. The stock’s fifty day moving average price is $22.01 and its 200-day moving average price is $26.72. The company has a current ratio of 1.31, a quick ratio of 0.97 and a debt-to-equity ratio of 0.44.

Intel (NASDAQ:INTC) last released its earnings results on Thursday, October 31st. The chip maker reported ($0.46) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.44). Intel had a negative return on equity of 1.71% and a negative net margin of 29.42%. The company had revenue of $13.30 billion during the quarter, compared to analysts’ expectations of $13.02 billion. During the same period in the prior year, the company posted $0.28 earnings per share. The company’s revenue was down 6.3% on a year-over-year basis. As a group, equities analysts forecast that Intel Co. will post -0.47 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Hsbc Global Res lowered Intel from a “hold” rating to a “moderate sell” rating in a research note on Friday, August 2nd. Daiwa America raised Intel to a “hold” rating in a research note on Monday, August 26th. Robert W. Baird increased their price objective on Intel from $20.00 to $25.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Rosenblatt Securities reissued a “sell” rating and set a $17.00 price objective on shares of Intel in a research note on Tuesday, October 29th. Finally, Mizuho upped their target price on Intel from $22.00 to $23.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Six analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Intel presently has an average 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.