Ipswich Investment Management Co. Inc. Has $383,000 Position in Intel Co. (NASDAQ:INTC)

Ipswich Investment Management Co. Inc. cut its holdings in shares of Intel Co. (NASDAQ:INTC) by 9.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,869 shares of the chip maker’s stock after selling 1,850 shares during the quarter. Ipswich Investment Management Co. Inc.’s holdings in Intel were worth $383,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in INTC. Norges Bank acquired a new position in shares of Intel during the 4th quarter worth approximately $1,246,569,000. Two Sigma Advisers LP bought a new stake in Intel in the 4th quarter valued at $289,752,000. Two Sigma Investments LP bought a new stake in Intel in the 4th quarter valued at $237,457,000. Toronto Dominion Bank boosted its stake in Intel by 286.8% in the 4th quarter. Toronto Dominion Bank now owns 10,529,354 shares of the chip maker’s stock valued at $211,114,000 after purchasing an additional 7,806,882 shares during the period. Finally, Northern Trust Corp boosted its stake in Intel by 15.5% in the 4th quarter. Northern Trust Corp now owns 45,811,555 shares of the chip maker’s stock valued at $918,522,000 after purchasing an additional 6,157,853 shares during the period. 64.53% of the stock is owned by institutional investors and hedge funds.

Intel Price Performance

Shares of INTC stock opened at $20.14 on Friday. The company has a quick ratio of 0.98, a current ratio of 1.33 and a debt-to-equity ratio of 0.44. Intel Co. has a twelve month low of $17.67 and a twelve month high of $37.16. The company has a market cap of $87.85 billion, a P/E ratio of -4.60 and a beta of 1.12. The business has a fifty day simple moving average of $20.43 and a 200 day simple moving average of $21.16.

Intel (NASDAQ:INTC) last announced its quarterly earnings data on Thursday, April 24th. The chip maker reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.12. Intel had a negative return on equity of 3.27% and a negative net margin of 35.32%. The business had revenue of $12.67 billion during the quarter, compared to the consensus estimate of $12.26 billion. During the same period in the prior year, the company earned $0.18 EPS. Intel’s revenue for the quarter was down .4% on a year-over-year basis. On average, sell-side analysts forecast that Intel Co. will post -0.11 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on INTC. Needham & Company LLC restated a “hold” rating on shares of Intel in a research note on Friday, April 25th. Cfra Research upgraded Intel to a “hold” rating in a research note on Friday, April 25th. 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. Benchmark restated a “hold” rating on shares of Intel in a research note on Friday, April 25th. Finally, Rosenblatt Securities reduced their price target on Intel from $18.00 to $14.00 and set a “sell” rating for the company in a research note on Friday, April 25th. Six analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Intel currently has an average rating of “Hold” and a consensus price target of $21.57.

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.