Formula Growth Ltd. Invests $1.30 Million in Intel Co. (NASDAQ:INTC)

Formula Growth Ltd. bought a new position in shares of Intel Co. (NASDAQ:INTC - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 65,000 shares of the chip maker's stock, valued at approximately $1,303,000.

Several other large investors also recently bought and sold shares of INTC. Evergreen Capital Management LLC boosted its stake in Intel by 1.0% during the 4th quarter. Evergreen Capital Management LLC now owns 41,904 shares of the chip maker's stock valued at $840,000 after acquiring an additional 419 shares during the last quarter. Federated Hermes Inc. increased its holdings in Intel by 0.3% in the fourth quarter. Federated Hermes Inc. now owns 162,757 shares of the chip maker's stock valued at $3,263,000 after buying an additional 456 shares during the last quarter. CFM Wealth Partners LLC raised its stake in Intel by 4.0% during the fourth quarter. CFM Wealth Partners LLC now owns 13,114 shares of the chip maker's stock valued at $263,000 after buying an additional 500 shares in the last quarter. Ausdal Financial Partners Inc. lifted its holdings in Intel by 2.0% during the 4th quarter. Ausdal Financial Partners Inc. now owns 24,963 shares of the chip maker's stock worth $501,000 after buying an additional 500 shares during the last quarter. Finally, Wealth Quarterback LLC grew its position in shares of Intel by 2.0% in the 4th quarter. Wealth Quarterback LLC now owns 25,458 shares of the chip maker's stock worth $510,000 after acquiring an additional 508 shares in the last quarter. Hedge funds and other institutional investors own 64.53% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Truist Financial reduced their price objective on Intel from $22.00 to $21.00 and set a "hold" rating on the stock in a research note on Friday, January 31st. Needham & Company LLC reaffirmed a "hold" rating on shares of Intel in a report on Monday, April 14th. Bank of America upgraded Intel from an "underperform" rating to a "neutral" rating and boosted their price objective for the company from $19.00 to $25.00 in a research report on Thursday, March 13th. Sanford C. Bernstein lowered their price target on shares of Intel from $25.00 to $21.00 and set a "market perform" rating for the company in a research report on Tuesday. Finally, Stifel Nicolaus reduced their target price on shares of Intel from $25.00 to $21.00 and set a "hold" rating for the company in a research note on Friday, January 31st. Five analysts have rated the stock with a sell rating, twenty-seven have issued a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $24.00.

Intel Trading Up 5.9 %

Shares of INTC traded up $1.15 during midday trading on Wednesday, hitting $20.66. The stock had a trading volume of 61,591,044 shares, compared to its average volume of 78,780,193. The business has a 50-day simple moving average of $22.17 and a two-hundred day simple moving average of $21.91. The firm has a market cap of $90.09 billion, a P/E ratio of -4.72 and a beta of 1.13. The company has a current ratio of 1.33, a quick ratio of 0.98 and a debt-to-equity ratio of 0.44. Intel Co. has a fifty-two week low of $17.67 and a fifty-two week high of $37.16.

Intel (NASDAQ:INTC - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The chip maker reported ($0.02) earnings per share for the quarter, missing the consensus estimate 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, equities analysts forecast that Intel Co. will post -0.11 EPS 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.