Simmons Bank Cuts Stock Holdings in Intel Co. (NASDAQ:INTC)

Simmons Bank reduced its position in shares of Intel Co. (NASDAQ:INTC) by 20.8% in the 4th quarter, HoldingsChannel reports. The firm owned 40,736 shares of the chip maker’s stock after selling 10,727 shares during the period. Simmons Bank’s holdings in Intel were worth $817,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Finley Financial LLC purchased a new position in Intel during the fourth quarter worth about $25,000. BankPlus Trust Department purchased a new position in Intel in the fourth quarter valued at about $28,000. Keystone Financial Group Inc. purchased a new position in Intel in the fourth quarter valued at about $29,000. Quest Partners LLC increased its holdings in Intel by 7,370.6% in the third quarter. Quest Partners LLC now owns 1,270 shares of the chip maker’s stock valued at $30,000 after buying an additional 1,253 shares in the last quarter. Finally, West Financial Advisors LLC purchased a new position in Intel in the fourth quarter valued at about $31,000. 64.53% of the stock is owned by hedge funds and other institutional investors.

Intel Stock Up 2.3 %

Shares of INTC opened at $23.52 on Thursday. The firm has a market cap of $101.84 billion, a PE ratio of -5.37 and a beta of 1.08. The company’s fifty day moving average is $21.04 and its two-hundred day moving average is $21.74. Intel Co. has a fifty-two week low of $18.51 and a fifty-two week high of $46.63. 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 (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, January 30th. The chip maker reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.14). Intel had a negative net margin of 35.32% and a negative return on equity of 3.27%. Analysts forecast that Intel Co. will post -0.11 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have issued reports on INTC. Barclays dropped their target price on shares of Intel from $25.00 to $23.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. Wells Fargo & Company dropped their target price on shares of Intel from $28.00 to $25.00 and set an “equal weight” rating for the company in a report on Friday, January 31st. Citigroup dropped their target price on shares of Intel from $22.00 to $21.00 and set a “neutral” rating for the company in a report on Tuesday, January 21st. Bank of America reaffirmed an “underperform” rating and issued a $21.00 target price on shares of Intel in a report on Tuesday, December 3rd. Finally, Truist Financial dropped their target price on shares of Intel from $22.00 to $21.00 and set a “hold” rating for the company in a report on Friday, January 31st. Five equities research analysts have rated the stock with a sell rating, twenty-seven have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $26.88.

Intel Company 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.