In the first quarter, Cornerstone Wealth Management LLC decreased its stake in Intel Co. (NASDAQ: INTC) by 5.3%, selling 2,140 shares and leaving them with 38,544 shares of the chipmaker. Other major investors also made moves with INTC stock, including Barrett & Company Inc., Revolve Wealth Partners LLC, New Millennium Group LLC, Waldron Private Wealth LLC, and Spreng Capital Management Inc.
Analyst ratings for INTC have seen some changes recently, with Citigroup upgrading their rating from “sell” to “hold” and lowering their price target from $47.50 to $40.00. Overall, three analysts rate the stock as sell, 23 as hold, and five as buy, with a consensus rating of “hold” and a consensus target price of $39.58.
On the market, Intel shares rose 0.5% to open at $31.23, with a 52-week low of $29.73 and a high of $51.28. The company reported earnings in April that missed estimates, with EPS of ($0.06) and revenue of $12.72 billion. The company also declared a quarterly dividend of $0.125 per share.
Internally, CEO Patrick P. Gelsinger made several purchases of INTC stock, acquiring a total of 8,100 shares in May. Approximately 0.04% of the shares are owned by insiders.
Intel Corporation is a global leader in computing and related products and services, operating through various segments. Their product portfolio includes CPUs, chipsets, SoCs, mobile and desktop processors, GPUs, accelerators, FPGAs, memory, storage, and networking products.
Overall, despite some changes in investor positions and analyst ratings, Intel remains a strong player in the tech industry, with a diverse product portfolio and leadership in key areas like CPUs and networking. Invested in a long-term growth strategy, the company continues to navigate market challenges and capitalize on new opportunities to drive innovation and profitability.
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https://www.defenseworld.net/2024/07/05/cornerstone-wealth-management-llc-sells-2140-shares-of-intel-co-nasdaqintc.html
