Intel Co. (NASDAQ:INTC) Shares Sold by Great Lakes Advisors LLC

Great Lakes Advisors LLC lowered its position in Intel Co. (NASDAQ:INTC) by 10.9% in the fourth quarter, HoldingsChannel reports. The fund owned 400,622 shares of the chip maker’s stock after selling 49,015 shares during the quarter. Great Lakes Advisors LLC’s holdings in Intel were worth $8,032,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of INTC. Geode Capital Management LLC raised its holdings in Intel by 4.6% in 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 period. Relyea Zuckerberg Hanson LLC increased its position in shares of Intel by 211.6% in the fourth quarter. Relyea Zuckerberg Hanson LLC now owns 28,898 shares of the chip maker’s stock valued at $579,000 after buying an additional 19,625 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Intel by 4.4% during the 3rd quarter. Principal Financial Group Inc. now owns 4,827,123 shares of the chip maker’s stock worth $113,244,000 after buying an additional 204,200 shares during the period. Empirical Asset Management LLC purchased a new position in shares of Intel during the 4th quarter valued at approximately $276,000. Finally, Swiss National Bank grew its stake in Intel by 0.3% in the 3rd quarter. Swiss National Bank now owns 12,635,400 shares of the chip maker’s stock valued at $296,426,000 after acquiring an additional 31,800 shares during the period. 64.53% of the stock is owned by hedge funds and other institutional investors.

Intel Stock Performance

NASDAQ INTC opened at $23.70 on Friday. The stock has a market cap of $102.62 billion, a PE ratio of -5.41 and a beta of 1.02. Intel Co. has a twelve month low of $18.51 and a twelve month high of $45.41. The stock has a fifty day simple moving average of $21.38 and a 200-day simple moving average of $21.81. 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 (NASDAQ:INTC) last announced its earnings results on Thursday, January 30th. The chip maker reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.14). Intel had a negative return on equity of 3.27% and a negative net margin of 35.32%. Equities analysts anticipate that Intel Co. will post -0.11 earnings per share for the current year.

Wall Street Analysts Forecast Growth

INTC has been the subject of a number of research analyst reports. Stifel Nicolaus reduced their price objective on shares of Intel from $25.00 to $21.00 and set a “hold” rating for the company in a research report on Friday, January 31st. Wells Fargo & Company decreased 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. Truist Financial cut their price objective on Intel from $22.00 to $21.00 and set a “hold” rating for the company in a research note on Friday, January 31st. Bank of America upgraded Intel from an “underperform” rating to a “neutral” rating and raised their target price for the company from $19.00 to $25.00 in a research report on Thursday. Finally, Cantor Fitzgerald boosted their price target on Intel from $22.00 to $29.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 18th. Four analysts have rated the stock with a sell rating, twenty-eight have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $27.04.

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.