Verdence Capital Advisors LLC Cuts Holdings in Intel Co. (NASDAQ:INTC)

Verdence Capital Advisors LLC decreased its position in Intel Co. (NASDAQ:INTC) by 25.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 45,196 shares of the chip maker’s stock after selling 15,694 shares during the period. Verdence Capital Advisors LLC’s holdings in Intel were worth $906,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its holdings in Intel by 4.6% in the third quarter. Geode Capital Management LLC now owns 92,510,098 shares of the chip maker’s stock valued at $2,162,891,000 after buying an additional 4,103,553 shares in the last quarter. Relyea Zuckerberg Hanson LLC increased its holdings in 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. increased its holdings in Intel by 4.4% in the third quarter. Principal Financial Group Inc. now owns 4,827,123 shares of the chip maker’s stock valued at $113,244,000 after buying an additional 204,200 shares in the last quarter. Empirical Asset Management LLC purchased a new position in Intel in the fourth quarter valued at $276,000. Finally, Swiss National Bank grew its position in shares of Intel by 0.3% in the third quarter. Swiss National Bank now owns 12,635,400 shares of the chip maker’s stock valued at $296,426,000 after purchasing an additional 31,800 shares during the period. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on INTC. Wells Fargo & Company dropped their target price on shares of Intel from $28.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Friday, January 31st. Barclays dropped their target price on shares of Intel from $25.00 to $23.00 and set an “equal weight” rating on the stock in a research report on Friday, January 17th. Truist Financial dropped their target price on shares of Intel from $22.00 to $21.00 and set a “hold” rating on the stock in a research report on Friday, January 31st. Hsbc Global Res upgraded shares of Intel from a “moderate sell” rating to a “hold” rating in a research report on Tuesday, January 21st. Finally, Stifel Nicolaus dropped their target price on shares of Intel from $25.00 to $21.00 and set a “hold” rating on the stock in a research 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 company. According to MarketBeat, Intel has an average rating of “Hold” and an average target price of $26.88.

Intel Price Performance

Shares of INTC 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. The firm’s 50-day moving average is $21.28 and its two-hundred day moving average is $21.82. Intel Co. has a 12 month low of $18.51 and a 12 month high of $46.63. The company has a market capitalization of $90.11 billion, a PE ratio of -4.75 and a beta of 1.02.

Intel (NASDAQ:INTC) last released its quarterly earnings results on Thursday, January 30th. The chip maker reported ($0.02) earnings per share (EPS) 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 predict that Intel Co. will post -0.11 earnings per share for the current 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.