Ardmore Road Asset Management LP Sells 190,000 Shares of Intel Co. (NASDAQ:INTC)

Ardmore Road Asset Management LP trimmed its holdings in Intel Co. (NASDAQ:INTC - Free Report) by 27.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 510,000 shares of the chip maker's stock after selling 190,000 shares during the quarter. Intel accounts for about 1.5% of Ardmore Road Asset Management LP's holdings, making the stock its 27th biggest holding. Ardmore Road Asset Management LP's holdings in Intel were worth $10,226,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in INTC. Finley Financial LLC purchased a new position in shares of Intel in the fourth quarter worth about $25,000. Synergy Investment Management LLC purchased a new position in shares of Intel in the 4th quarter valued at approximately $27,000. BankPlus Trust Department purchased a new position in shares of Intel in the 4th quarter valued at approximately $28,000. Keystone Financial Group Inc. bought a new stake in shares of Intel during the fourth quarter valued at approximately $29,000. Finally, West Financial Advisors LLC purchased a new stake in Intel in the fourth quarter worth $31,000. 64.53% of the stock is owned by institutional investors.

Intel Stock Performance

Shares of NASDAQ INTC traded down $2.58 during trading on Friday, hitting $19.85. The company had a trading volume of 174,685,786 shares, compared to its average volume of 75,988,704. The stock has a 50 day simple moving average of $22.36 and a 200 day simple moving average of $22.20. The firm has a market capitalization of $86.56 billion, a P/E ratio of -4.53 and a beta of 1.13. Intel Co. has a 12 month low of $18.51 and a 12 month high of $38.86. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.98 and a current ratio of 1.33.

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Intel (NASDAQ:INTC - Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The chip maker reported ($0.02) earnings per share for the quarter, missing analysts' consensus estimates of $0.12 by ($0.14). Intel had a negative return on equity of 3.27% and a negative net margin of 35.32%. As a group, analysts anticipate that Intel Co. will post -0.11 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. HSBC upgraded Intel from a "reduce" rating to a "hold" rating in a research note on Tuesday, January 21st. Truist Financial dropped their price target on shares of Intel from $22.00 to $21.00 and set a "hold" rating on the stock in a research note on Friday, January 31st. Wells Fargo & Company cut their price objective on shares of Intel from $28.00 to $25.00 and set an "equal weight" rating on the stock in a research report on Friday, January 31st. Cantor Fitzgerald lifted their target price on shares of Intel from $22.00 to $29.00 and gave the stock a "neutral" rating in a report on Tuesday, February 18th. Finally, Benchmark reiterated a "hold" rating on shares of Intel in a report on Friday, January 31st. Four analysts have rated the stock with a sell rating, twenty-eight have issued a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat, Intel currently has an average rating of "Hold" and a consensus target price of $25.58.

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.