NorthRock Partners LLC Increases Stake in Intel Co. (NASDAQ:INTC)

NorthRock Partners LLC lifted its position in Intel Co. (NASDAQ:INTC) by 30.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,783 shares of the chip maker’s stock after acquiring an additional 4,800 shares during the quarter. NorthRock Partners LLC’s holdings in Intel were worth $488,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. William B. Walkup & Associates Inc. bought a new stake in shares of Intel in the second quarter valued at about $2,178,000. Fortis Group Advisors LLC raised its holdings in shares of Intel by 1,052.9% in the third quarter. Fortis Group Advisors LLC now owns 172,996 shares of the chip maker’s stock valued at $4,058,000 after acquiring an additional 157,991 shares in the last quarter. Private Advisory Group LLC bought a new stake in shares of Intel in the third quarter valued at about $8,045,000. Sanibel Captiva Trust Company Inc. raised its holdings in shares of Intel by 21.1% in the third quarter. Sanibel Captiva Trust Company Inc. now owns 279,591 shares of the chip maker’s stock valued at $6,559,000 after acquiring an additional 48,765 shares in the last quarter. Finally, Forsta AP Fonden grew its stake in Intel by 4.6% in the third quarter. Forsta AP Fonden now owns 949,146 shares of the chip maker’s stock valued at $22,267,000 after purchasing an additional 41,900 shares during the last quarter. 64.53% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

INTC has been the topic of several analyst reports. Stifel Nicolaus reiterated a “hold” rating and issued a $25.00 target price (down previously from $28.00) on shares of Intel in a research note on Friday, October 25th. HSBC lowered Intel from a “hold” rating to a “reduce” rating in a research note on Friday, August 2nd. Barclays cut their target price on Intel from $40.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Friday, August 2nd. Mizuho lifted their target price on Intel from $22.00 to $23.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Finally, Argus lowered Intel from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Six research analysts have rated the stock with a sell rating, twenty-five have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $30.12.

Intel Price Performance

Shares of NASDAQ INTC opened at $23.32 on Wednesday. The business’s 50 day moving average price is $21.90 and its 200 day moving average price is $26.73. The firm has a market cap of $99.72 billion, a P/E ratio of -6.27 and a beta of 1.03. Intel Co. has a 52 week low of $18.51 and a 52 week high of $51.28. The company has a quick ratio of 0.97, a current ratio of 1.31 and a debt-to-equity ratio of 0.44.

Intel (NASDAQ:INTC) last issued 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). The firm 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 quarterly revenue was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.28 EPS. On average, sell-side analysts expect that Intel Co. will post -0.47 earnings per share for the current year.

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.