Geode Capital Management LLC Grows Position in Intel Co. (NASDAQ:INTC)

Geode Capital Management LLC boosted its stake in shares of Intel Co. (NASDAQ:INTC) by 3.2% in the 4th quarter, HoldingsChannel.com reports. The fund owned 95,488,444 shares of the chip maker’s stock after buying an additional 2,978,346 shares during the period. Geode Capital Management LLC’s holdings in Intel were worth $1,909,761,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Intel by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 369,099,204 shares of the chip maker’s stock valued at $7,400,439,000 after purchasing an additional 6,143,164 shares in the last quarter. State Street Corp boosted its stake in Intel by 2.8% during 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 buying an additional 5,417,753 shares during the last quarter. Norges Bank purchased a new position in Intel during the 4th quarter valued at approximately $1,246,569,000. Charles Schwab Investment Management Inc. increased its stake in Intel by 7.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 33,938,760 shares of the chip maker’s stock worth $680,472,000 after acquiring an additional 2,248,342 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Intel by 0.3% during the 4th quarter. Bank of New York Mellon Corp now owns 30,616,197 shares of the chip maker’s stock worth $613,855,000 after acquiring an additional 86,483 shares in the last quarter. 64.53% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

INTC has been the topic of several research reports. Citigroup reduced their price target on shares of Intel from $22.00 to $21.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 21st. Rosenblatt Securities restated a “sell” rating and set a $20.00 target price on shares of Intel in a research report on Thursday, January 30th. Hsbc Global Res raised shares of Intel from a “moderate sell” rating to a “hold” rating in a report on Tuesday, January 21st. Mizuho reduced their price objective on Intel from $23.00 to $21.00 and set a “neutral” rating on the stock in a research note on Friday, January 10th. Finally, JPMorgan Chase & Co. lowered their price objective on Intel from $26.00 to $23.00 and set an “underweight” rating for the company in a research note on Friday, January 31st. Four equities research 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. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $27.04.

Intel Trading Down 2.9 %

Shares of NASDAQ INTC opened at $22.05 on Wednesday. Intel Co. has a 1-year low of $18.51 and a 1-year high of $44.08. The business has a fifty day moving average price of $22.36 and a 200 day moving average price of $22.20. The stock has a market capitalization of $95.48 billion, a P/E ratio of -5.03 and a beta of 1.02. 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 (NASDAQ:INTC) last released its quarterly earnings results on Thursday, January 30th. The chip maker reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.12 by ($0.14). Intel had a negative net margin of 35.32% and a negative return on equity of 3.27%. Equities research analysts expect that Intel Co. will post -0.11 EPS for the current fiscal year.

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.