Gemmer Asset Management LLC Sells 1,775 Shares of Intel Co. (NASDAQ:INTC)

Gemmer Asset Management LLC reduced its holdings in shares of Intel Co. (NASDAQ:INTC) by 15.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 9,701 shares of the chip maker’s stock after selling 1,775 shares during the quarter. Gemmer Asset Management LLC’s holdings in Intel were worth $220,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Cornerstone Advisory LLC boosted its stake in shares of Intel by 4.3% during the 4th quarter. Cornerstone Advisory LLC now owns 9,863 shares of the chip maker’s stock worth $198,000 after acquiring an additional 409 shares during the period. Evergreen Capital Management LLC boosted its stake in shares of Intel by 1.0% during the 4th quarter. Evergreen Capital Management LLC now owns 41,904 shares of the chip maker’s stock worth $840,000 after acquiring an additional 419 shares during the period. Federated Hermes Inc. boosted its stake in shares of Intel by 0.3% during the 4th quarter. Federated Hermes Inc. now owns 162,757 shares of the chip maker’s stock worth $3,263,000 after acquiring an additional 456 shares during the period. Ausdal Financial Partners Inc. boosted its stake in shares of 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 acquiring an additional 500 shares during the period. Finally, Wealth Quarterback LLC boosted its stake in shares of Intel by 2.0% during 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 during the period. 64.53% of the stock is currently owned by institutional investors.

Intel Stock Up 0.4%

Shares of NASDAQ INTC opened at $20.06 on Friday. The company has a market cap of $87.50 billion, a price-to-earnings ratio of -4.58 and a beta of 1.15. 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 12 month low of $17.67 and a 12 month high of $37.16. The stock has a 50-day moving average price of $20.39 and a two-hundred day moving average price of $21.28.

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, beating analysts’ consensus estimates of $0.01 by $0.12. Intel had a negative net margin of 35.32% and a negative return on equity of 3.27%. The company had revenue of $12.67 billion for the quarter, compared to the consensus estimate of $12.26 billion. During the same period last year, the company posted $0.18 EPS. The firm’s quarterly revenue was down .4% compared to the same quarter last year. As a group, analysts forecast that Intel Co. will post -0.11 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

INTC has been the subject of several recent research reports. Mizuho reduced their price target on Intel from $23.00 to $22.00 and set a “neutral” rating for the company in a research note on Friday, April 25th. Susquehanna reduced their price target on Intel from $24.00 to $22.00 and set a “neutral” rating for the company in a research note on Wednesday, April 16th. Wall Street Zen upgraded Intel from a “sell” rating to a “hold” rating in a research note on Saturday, May 24th. Seaport Res Ptn upgraded Intel to a “strong sell” rating in a research note on Wednesday, April 30th. Finally, Wedbush reduced their price target on Intel from $20.00 to $19.00 and set a “neutral” rating for the company in a research note on Wednesday, April 23rd. Six research analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Intel presently has a consensus rating of “Hold” and a consensus target price of $21.57.

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.