Miracle Mile Advisors LLC Reduces Position in Intel Co. (NASDAQ:INTC)

Miracle Mile Advisors LLC lowered its position in Intel Co. (NASDAQ:INTC) by 30.4% in the first quarter, HoldingsChannel reports. The firm owned 42,598 shares of the chip maker’s stock after selling 18,647 shares during the period. Miracle Mile Advisors LLC’s holdings in Intel were worth $967,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in INTC. Strategic Financial Concepts LLC purchased a new position in Intel during the 4th quarter valued at about $782,000. Golden State Wealth Management LLC acquired a new position in shares of Intel in the fourth quarter valued at approximately $73,000. Vest Financial LLC increased its stake in Intel by 34.0% during the 4th quarter. Vest Financial LLC now owns 23,439 shares of the chip maker’s stock worth $470,000 after buying an additional 5,949 shares during the period. Empowered Funds LLC lifted its holdings in Intel by 14.1% during the 4th quarter. Empowered Funds LLC now owns 518,962 shares of the chip maker’s stock worth $10,405,000 after buying an additional 64,174 shares in the last quarter. Finally, Kestra Private Wealth Services LLC lifted its holdings in Intel by 9.4% during the 4th quarter. Kestra Private Wealth Services LLC now owns 154,098 shares of the chip maker’s stock worth $3,090,000 after buying an additional 13,192 shares in the last quarter. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Intel Trading Up 2.1%

NASDAQ INTC opened at $20.48 on Tuesday. The firm’s fifty day moving average is $20.36 and its two-hundred day moving average is $21.21. Intel Co. has a one year low of $17.67 and a one year high of $37.16. 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 firm has a market cap of $89.33 billion, a PE ratio of -4.68 and a beta of 1.12.

Intel (NASDAQ:INTC) last issued its quarterly earnings results on Thursday, April 24th. The chip maker reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.12. Intel had a negative return on equity of 3.27% and a negative net margin of 35.32%. The firm had revenue of $12.67 billion for the quarter, compared to analysts’ expectations of $12.26 billion. During the same quarter in the previous year, the firm posted $0.18 EPS. The firm’s revenue for the quarter was down .4% on a year-over-year basis. Analysts expect that Intel Co. will post -0.11 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently issued reports on INTC. Sanford C. Bernstein decreased their target price on Intel from $25.00 to $21.00 and set a “market perform” rating for the company in a report on Tuesday, April 22nd. Seaport Res Ptn raised shares of Intel to a “strong sell” rating in a report on Wednesday, April 30th. Barclays reiterated a “reduce” rating on shares of Intel in a research note on Tuesday, April 22nd. Bank of America raised shares of Intel from an “underperform” rating to a “neutral” rating and increased their price objective for the company from $19.00 to $25.00 in a research report on Thursday, March 13th. Finally, Mizuho decreased their price objective on shares of Intel from $23.00 to $22.00 and set a “neutral” rating for the company in a research report on Friday, April 25th. Six equities research analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $21.57.

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.