Wilkins Investment Counsel Inc. Sells 248,371 Shares of Intel Corporation (NASDAQ:INTC)

Wilkins Investment Counsel Inc. cut its holdings in shares of Intel Corporation (NASDAQ:INTC - Free Report) by 96.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,800 shares of the chip maker's stock after selling 248,371 shares during the period. Wilkins Investment Counsel Inc.'s holdings in Intel were worth $223,000 at the end of the most recent quarter.

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Other large investors have also bought and sold shares of the company. Neo Ivy Capital Management acquired a new position in Intel during the 1st quarter worth $1,491,000. Assetmark Inc. lifted its holdings in Intel by 67.5% during the 1st quarter. Assetmark Inc. now owns 8,855 shares of the chip maker's stock worth $201,000 after buying an additional 3,569 shares in the last quarter. Navellier & Associates Inc. acquired a new position in Intel during the 1st quarter worth $273,000. ANB Bank lifted its holdings in Intel by 3.1% during the 1st quarter. ANB Bank now owns 48,500 shares of the chip maker's stock worth $1,101,000 after buying an additional 1,456 shares in the last quarter. Finally, Cetera Investment Advisers lifted its holdings in Intel by 3.5% during the 1st quarter. Cetera Investment Advisers now owns 613,400 shares of the chip maker's stock worth $13,930,000 after buying an additional 20,668 shares in the last quarter. 64.53% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

INTC has been the topic of a number of analyst reports. Cfra Research raised Intel to a "hold" rating in a research note on Friday, April 25th. Morgan Stanley lowered their target price on Intel from $25.00 to $23.00 and set an "equal weight" rating for the company in a report on Friday, April 25th. JPMorgan Chase & Co. lowered their target price on Intel from $23.00 to $20.00 and set an "underweight" rating for the company in a report on Friday, April 25th. Cantor Fitzgerald lowered their target price on Intel from $29.00 to $20.00 and set a "neutral" rating for the company in a report on Monday, April 21st. Finally, Susquehanna lowered their target price on Intel from $24.00 to $22.00 and set a "neutral" rating for the company in a report on Wednesday, April 16th. Five equities research analysts have rated the stock with a sell rating, twenty-seven have issued a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $22.25.

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Get Our Latest Stock Report on Intel

Intel Stock Down 3.7%

Shares of INTC opened at $22.63 on Friday. The firm has a 50 day simple moving average of $21.66 and a two-hundred day simple moving average of $21.49. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.31 and a quick ratio of 0.93. Intel Corporation has a one year low of $17.67 and a one year high of $31.99. The company has a market cap of $98.71 billion, a P/E ratio of -5.05 and a beta of 1.15.

• 3 Catalysts Converge on Intel Ahead of a Critical Earnings Report

Intel (NASDAQ:INTC - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The chip maker reported ($0.10) EPS for the quarter, missing analysts' consensus estimates of $0.01 by ($0.11). Intel had a negative return on equity of 3.15% and a negative net margin of 36.19%. The business had revenue of $12.86 billion for the quarter, compared to analyst estimates of $11.88 billion. During the same period last year, the firm posted $0.02 EPS. Intel's quarterly revenue was up .5% on a year-over-year basis. Research analysts forecast that Intel Corporation will post -0.11 EPS for the current fiscal year.

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.

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