Miracle Mile Advisors LLC Cuts Holdings in Intel Co. (NASDAQ:INTC)

Miracle Mile Advisors LLC lowered its stake in shares of Intel Co. (NASDAQ:INTC) by 30.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. 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 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of INTC. Norges Bank purchased a new stake in shares of Intel during the 4th quarter worth $1,246,569,000. Two Sigma Advisers LP purchased a new position in Intel in the fourth quarter valued at about $289,752,000. Two Sigma Investments LP bought a new position in Intel in the fourth quarter worth about $237,457,000. Toronto Dominion Bank lifted its position in shares of Intel by 286.8% during the fourth quarter. Toronto Dominion Bank now owns 10,529,354 shares of the chip maker’s stock valued at $211,114,000 after buying an additional 7,806,882 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of Intel by 15.5% in the 4th quarter. Northern Trust Corp now owns 45,811,555 shares of the chip maker’s stock valued at $918,522,000 after buying an additional 6,157,853 shares in the last quarter. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on INTC. Bank of America raised shares of Intel from an “underperform” rating to a “neutral” rating and increased their target price for the company from $19.00 to $25.00 in a research report on Thursday, March 13th. Wall Street Zen upgraded Intel from a “sell” rating to a “hold” rating in a report on Saturday, May 24th. UBS Group lowered their price objective on Intel from $22.00 to $21.00 and set a “neutral” rating for the company in a research report on Friday, April 25th. Rosenblatt Securities dropped their target price on Intel from $18.00 to $14.00 and set a “sell” rating on the stock in a research note on Friday, April 25th. Finally, Seaport Res Ptn upgraded Intel to a “strong sell” rating in a research note on Wednesday, April 30th. Six 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. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $21.57.

Intel Trading Up 2.1%

NASDAQ INTC opened at $20.48 on Tuesday. Intel Co. has a 1 year low of $17.67 and a 1 year high of $37.16. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.33 and a quick ratio of 0.98. The company has a market capitalization of $89.33 billion, a PE ratio of -4.68 and a beta of 1.12. The company has a fifty day moving average of $20.36 and a 200 day moving average of $21.21.

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

About Intel

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.