Golden State Wealth Management LLC Acquires 2,434 Shares of Intel Corporation (NASDAQ:INTC)

Golden State Wealth Management LLC raised its stake in shares of Intel Corporation (NASDAQ:INTC) by 67.1% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 6,064 shares of the chip maker’s stock after acquiring an additional 2,434 shares during the period. Golden State Wealth Management LLC’s holdings in Intel were worth $138,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the stock. Capitol Family Office Inc. purchased a new position in shares of Intel in the 1st quarter worth $52,000. Jeppson Wealth Management LLC lifted its holdings in Intel by 25.1% in the first quarter. Jeppson Wealth Management LLC now owns 19,877 shares of the chip maker’s stock valued at $451,000 after acquiring an additional 3,990 shares during the period. Tsfg LLC lifted its holdings in Intel by 71.5% in the first quarter. Tsfg LLC now owns 5,708 shares of the chip maker’s stock valued at $130,000 after acquiring an additional 2,380 shares during the period. Allspring Global Investments Holdings LLC boosted its position in Intel by 0.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 249,611 shares of the chip maker’s stock worth $5,504,000 after purchasing an additional 1,153 shares during the last quarter. Finally, Mcdaniel Terry & Co. bought a new stake in shares of Intel during the 1st quarter valued at about $209,000. 64.53% of the stock is owned by hedge funds and other institutional investors.

Intel Trading Up 2.4%

Shares of INTC stock opened at $22.41 on Friday. The company has a current ratio of 1.31, a quick ratio of 0.93 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $97.73 billion, a price-to-earnings ratio of -5.00 and a beta of 1.15. Intel Corporation has a 12-month low of $17.67 and a 12-month high of $37.16. The stock’s 50-day moving average price is $21.04 and its 200-day moving average price is $21.20.

Intel (NASDAQ:INTC) last released its quarterly earnings data on Thursday, April 24th. The chip maker reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.12. The business had revenue of $12.67 billion for the quarter, compared to the consensus estimate of $12.26 billion. Intel had a negative return on equity of 3.15% and a negative net margin of 36.19%. The company’s revenue was down .4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.18 EPS. Equities research analysts predict that Intel Corporation will post -0.11 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Sanford C. Bernstein lowered their price objective on shares of Intel from $25.00 to $21.00 and set a “market perform” rating on the stock in a research note on Tuesday, April 22nd. Needham & Company LLC reaffirmed a “hold” rating on shares of Intel in a report on Friday, April 25th. Citigroup reiterated a “sell” rating on shares of Intel in a research report on Friday, April 25th. Wedbush cut their price objective on shares of Intel from $20.00 to $19.00 and set a “neutral” rating for the company in a research report on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. reduced their price objective on Intel from $23.00 to $20.00 and set an “underweight” rating for the company in a research note 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. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $21.62.

Intel 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.