Intel Co. (NASDAQ:INTC) Stake Lessened by Smithfield Trust Co

Smithfield Trust Co cut its holdings in shares of Intel Co. (NASDAQ:INTC) by 15.9% in the 4th quarter, Holdings Channel reports. The firm owned 28,309 shares of the chip maker’s stock after selling 5,346 shares during the period. Smithfield Trust Co’s holdings in Intel were worth $567,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in INTC. Assenagon Asset Management S.A. lifted its stake in Intel by 264.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 19,617,088 shares of the chip maker’s stock valued at $393,323,000 after purchasing an additional 14,227,458 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Intel by 28.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 58,469,412 shares of the chip maker’s stock valued at $1,371,692,000 after buying an additional 12,865,308 shares during the period. Jacobs Levy Equity Management Inc. increased its stake in Intel by 224.8% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 10,413,544 shares of the chip maker’s stock valued at $244,302,000 after buying an additional 7,207,785 shares during the period. State Street Corp increased its stake in shares of Intel by 2.8% during the 3rd quarter. State Street Corp now owns 197,958,739 shares of the chip maker’s stock worth $4,644,112,000 after purchasing an additional 5,417,753 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Intel by 4.6% during the 3rd quarter. Geode Capital Management LLC now owns 92,510,098 shares of the chip maker’s stock worth $2,162,891,000 after purchasing an additional 4,103,553 shares during the last quarter. 64.53% of the stock is owned by institutional investors and hedge funds.

Intel Stock Down 2.4 %

Intel stock opened at $20.81 on Thursday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.33 and a quick ratio of 0.98. Intel Co. has a fifty-two week low of $18.51 and a fifty-two week high of $46.63. The company’s 50 day simple moving average is $21.28 and its 200 day simple moving average is $21.82. The firm has a market capitalization of $90.11 billion, a price-to-earnings ratio of -4.75 and a beta of 1.02.

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%. As a group, sell-side analysts anticipate that Intel Co. will post -0.11 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on INTC shares. Wells Fargo & Company dropped their price target on shares of Intel from $28.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Friday, January 31st. Benchmark reiterated a “hold” rating on shares of Intel in a research note on Friday, January 31st. JPMorgan Chase & Co. reduced their price target on shares of Intel from $26.00 to $23.00 and set an “underweight” rating for the company in a report on Friday, January 31st. HSBC raised shares of Intel from a “reduce” rating to a “hold” rating in a report on Tuesday, January 21st. Finally, Roth Mkm reduced their price objective on shares of Intel from $25.00 to $20.00 and set a “neutral” rating for the company in a report on Friday, January 31st. Five analysts have rated the stock with a sell rating, twenty-seven have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average 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.