Ipswich Investment Management Co. Inc. Sells 1,850 Shares of Intel Co. (NASDAQ:INTC)

Ipswich Investment Management Co. Inc. lowered its stake in shares of Intel Co. (NASDAQ:INTC) by 9.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,869 shares of the chip maker’s stock after selling 1,850 shares during the period. Ipswich Investment Management Co. Inc.’s holdings in Intel were worth $383,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. CVA Family Office LLC boosted its holdings in Intel by 62.5% during the first quarter. CVA Family Office LLC now owns 4,319 shares of the chip maker’s stock worth $98,000 after buying an additional 1,661 shares during the last quarter. Everhart Financial Group Inc. bought a new position in Intel during the first quarter worth about $562,000. Relyea Zuckerberg Hanson LLC raised its position in shares of Intel by 13.4% during the first quarter. Relyea Zuckerberg Hanson LLC now owns 32,780 shares of the chip maker’s stock worth $744,000 after purchasing an additional 3,882 shares during the period. RFG Holdings Inc. raised its position in shares of Intel by 46.7% during the first quarter. RFG Holdings Inc. now owns 43,696 shares of the chip maker’s stock worth $993,000 after purchasing an additional 13,901 shares during the period. Finally, Legacy Trust raised its position in shares of Intel by 8.2% during the first quarter. Legacy Trust now owns 15,993 shares of the chip maker’s stock worth $363,000 after purchasing an additional 1,214 shares during the period. Institutional investors own 64.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on INTC shares. Wall Street Zen raised Intel from a “sell” rating to a “hold” rating in a research report on Saturday, May 24th. Mizuho dropped their price target on Intel from $23.00 to $22.00 and set a “neutral” rating on the stock in a research report on Friday, April 25th. Deutsche Bank Aktiengesellschaft started coverage on Intel in a research report on Wednesday, May 21st. They set a “hold” rating and a $23.00 price target on the stock. Cfra Research raised Intel to a “hold” rating in a research report on Friday, April 25th. Finally, Morgan Stanley dropped their price target on Intel from $25.00 to $23.00 and set an “equal weight” rating on the stock in a research report on Friday, April 25th. Six investment analysts have rated the stock with a sell rating, twenty-five have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, Intel presently has a consensus rating of “Hold” and a consensus target price of $21.57.

Intel Stock Down 3.0%

NASDAQ:INTC opened at $20.14 on Friday. The firm has a market capitalization of $87.85 billion, a price-to-earnings ratio of -4.60 and a beta of 1.12. Intel Co. has a twelve month low of $17.67 and a twelve month high of $37.16. The stock’s 50 day moving average price is $20.43 and its two-hundred day moving average price is $21.16. The company has a quick ratio of 0.98, a current ratio of 1.33 and a debt-to-equity ratio of 0.44.

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