Baker Avenue Asset Management LP Has $1.95 Million Holdings in Intel Co. (NASDAQ:INTC)

Baker Avenue Asset Management LP lessened its holdings in Intel Co. (NASDAQ:INTC - Free Report) by 75.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 97,345 shares of the chip maker's stock after selling 298,417 shares during the period. Baker Avenue Asset Management LP's holdings in Intel were worth $1,952,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of INTC. Norges Bank purchased a new position in Intel in the fourth quarter valued at about $1,246,569,000. Assenagon Asset Management S.A. increased its holdings in 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 worth $393,323,000 after buying an additional 14,227,458 shares during the last quarter. Northern Trust Corp raised its position in Intel by 15.5% during the fourth quarter. Northern Trust Corp now owns 45,811,555 shares of the chip maker's stock valued at $918,522,000 after acquiring an additional 6,157,853 shares in the last quarter. Vanguard Group Inc. lifted its stake in Intel by 1.7% in 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 acquiring an additional 6,143,164 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new position in shares of Intel during the 4th quarter worth $93,393,000. Hedge funds and other institutional investors own 64.53% of the company's stock.

Intel Price Performance

INTC traded up $0.42 during midday trading on Wednesday, hitting $20.36. The company had a trading volume of 57,542,175 shares, compared to its average volume of 79,809,092. Intel Co. has a twelve month low of $17.67 and a twelve month high of $37.16. The firm's 50-day simple moving average is $21.35 and its 200-day simple moving average is $21.73. The company has a market capitalization of $88.83 billion, a PE ratio of -4.65 and a beta of 1.15. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.98 and a current ratio of 1.33.

Intel (NASDAQ:INTC - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The chip maker reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.12. The firm had revenue of $12.67 billion during the quarter, compared to analysts' expectations of $12.26 billion. Intel had a negative net margin of 35.32% and a negative return on equity of 3.27%. Intel's revenue was down .4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.18 EPS. Equities research analysts predict that Intel Co. will post -0.11 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have commented on INTC shares. Wells Fargo & Company lowered their target price on shares of Intel from $25.00 to $22.00 and set an "equal weight" rating on the stock in a research report on Friday, April 25th. Truist Financial reduced their target price on Intel from $22.00 to $21.00 and set a "hold" rating for the company in a report on Friday, January 31st. UBS Group reduced their price objective on shares of Intel from $22.00 to $21.00 and set a "neutral" rating for the company in a research note on Friday, April 25th. Hsbc Global Res raised shares of Intel from a "moderate sell" rating to a "hold" rating in a report on Tuesday, January 21st. Finally, JPMorgan Chase & Co. decreased their price target on shares of Intel from $23.00 to $20.00 and set an "underweight" rating for the company in a report on Friday, April 25th. Six analysts have rated the stock with a sell rating, twenty-seven have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $22.23.

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.