iA Global Asset Management Inc. Boosts Stock Position in Intel Co. (NASDAQ:INTC)

iA Global Asset Management Inc. raised its stake in shares of Intel Co. (NASDAQ:INTC) by 6.6% in the 4th quarter, Holdings Channel reports. The fund owned 464,877 shares of the chip maker’s stock after acquiring an additional 28,986 shares during the quarter. iA Global Asset Management Inc.’s holdings in Intel were worth $9,321,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its stake in Intel by 4.6% during the 3rd quarter. Geode Capital Management LLC now owns 92,510,098 shares of the chip maker’s stock valued at $2,162,891,000 after acquiring an additional 4,103,553 shares during the last quarter. Relyea Zuckerberg Hanson LLC raised its stake in Intel by 211.6% during the 4th quarter. Relyea Zuckerberg Hanson LLC now owns 28,898 shares of the chip maker’s stock valued at $579,000 after acquiring an additional 19,625 shares during 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 in the last quarter. Empirical Asset Management LLC purchased a new position in shares of Intel during the 4th quarter worth approximately $276,000. Finally, InvesTrust purchased a new position in shares of Intel during the 4th quarter worth approximately $3,696,000. 64.53% of the stock is owned by hedge funds and other institutional investors.

Intel Price Performance

INTC stock opened at $24.12 on Thursday. The company has a quick ratio of 0.98, a current ratio of 1.33 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $104.44 billion, a price-to-earnings ratio of -5.51 and a beta of 1.02. The stock’s fifty day simple moving average is $21.77 and its 200-day simple moving average is $21.95. Intel Co. has a 52-week low of $18.51 and a 52-week high of $45.41.

Intel (NASDAQ:INTC) last issued 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 research analysts expect that Intel Co. will post -0.11 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on INTC. Needham & Company LLC reissued a “hold” rating on shares of Intel in a research note on Friday, January 31st. Truist Financial cut their target price on Intel from $22.00 to $21.00 and set a “hold” rating for the company in a research note on Friday, January 31st. Cantor Fitzgerald increased their target price on Intel from $22.00 to $29.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 18th. Wells Fargo & Company cut their target price on Intel from $28.00 to $25.00 and set an “equal weight” rating for the company in a research note on Friday, January 31st. Finally, Barclays dropped their price objective on Intel from $25.00 to $23.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. Four analysts have rated the stock with a sell rating, twenty-eight have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, Intel currently has a consensus rating of “Hold” and a consensus price target of $27.04.

About Intel

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.