Parkside Financial Bank & Trust Cuts Stock Position in Intel Co. (NASDAQ:INTC)

Parkside Financial Bank & Trust cut its holdings in Intel Co. (NASDAQ:INTC) by 9.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 11,998 shares of the chip maker’s stock after selling 1,187 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Intel were worth $241,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of INTC. Assenagon Asset Management S.A. grew its holdings in shares of Intel by 264.0% in 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 in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Intel by 28.2% in the third 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 purchasing an additional 12,865,308 shares in the last quarter. Van ECK Associates Corp grew its holdings in shares of Intel by 27.2% in the third quarter. Van ECK Associates Corp now owns 44,013,936 shares of the chip maker’s stock valued at $967,426,000 after purchasing an additional 9,422,136 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in shares of Intel by 224.8% in the third quarter. Jacobs Levy Equity Management Inc. now owns 10,413,544 shares of the chip maker’s stock valued at $244,302,000 after purchasing an additional 7,207,785 shares in the last quarter. Finally, State Street Corp grew its holdings in shares of Intel by 2.8% in the third quarter. State Street Corp now owns 197,958,739 shares of the chip maker’s stock valued at $4,644,112,000 after purchasing an additional 5,417,753 shares in the last quarter. 64.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Wells Fargo & Company dropped their price objective on shares of Intel from $28.00 to $25.00 and set an “equal weight” rating for the company in a research note on Friday, January 31st. Needham & Company LLC reaffirmed a “hold” rating on shares of Intel in a research note on Friday, January 31st. Barclays dropped their price objective on shares of Intel from $25.00 to $23.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. Benchmark reaffirmed a “hold” rating on shares of Intel in a research note on Friday, January 31st. Finally, Truist Financial dropped their price objective on shares of Intel from $22.00 to $21.00 and set a “hold” rating for the company in a research note on Friday, January 31st. Five research analysts have rated the stock with a sell rating, twenty-seven have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, Intel presently has an average rating of “Hold” and an average price target of $26.88.

Intel Stock Performance

INTC stock opened at $23.74 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.33 and a quick ratio of 0.98. The business has a 50-day moving average price of $21.21 and a 200 day moving average price of $21.79. The company has a market capitalization of $102.80 billion, a P/E ratio of -5.42 and a beta of 1.08. Intel Co. has a 1-year low of $18.51 and a 1-year high of $46.63.

Intel (NASDAQ:INTC) last announced its earnings results on Thursday, January 30th. The chip maker reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.14). Intel had a negative return on equity of 3.27% and a negative net margin of 35.32%. As a group, equities research analysts forecast that Intel Co. will post -0.11 EPS for the current fiscal year.

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.