Beacon Pointe Advisors LLC trimmed its holdings in Intel Co. (NASDAQ:INTC - Free Report) by 18.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 265,471 shares of the chip maker's stock after selling 60,079 shares during the quarter. Beacon Pointe Advisors LLC's holdings in Intel were worth $5,323,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in INTC. Norges Bank purchased a new position in Intel during the fourth quarter valued at approximately $1,246,569,000. Assenagon Asset Management S.A. increased its holdings in shares of Intel by 264.0% during the 4th 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. Vanguard Group Inc. lifted its stake in shares of Intel by 1.7% in the 4th 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 during the period. Renaissance Technologies LLC purchased a new stake in Intel during the fourth quarter worth $93,393,000. Finally, Invesco Ltd. grew its position in Intel by 9.4% during the fourth quarter. Invesco Ltd. now owns 43,088,830 shares of the chip maker's stock valued at $863,931,000 after buying an additional 3,696,377 shares during the period. 64.53% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of research analysts have weighed in on INTC shares. Sanford C. Bernstein decreased their price objective on shares of Intel from $25.00 to $21.00 and set a "market perform" rating for the company in a research report on Tuesday, April 22nd. Barclays reaffirmed a "reduce" rating on shares of Intel in a report on Tuesday, April 22nd. Benchmark reissued a "hold" rating on shares of Intel in a report on Friday, April 25th. Wells Fargo & Company reduced their target price on Intel from $25.00 to $22.00 and set an "equal weight" rating for the company in a research note on Friday, April 25th. Finally, Roth Mkm decreased their target price on Intel from $25.00 to $20.00 and set a "neutral" rating on the stock in a research report on Friday, January 31st. Five analysts have rated the stock with a sell rating, twenty-six have assigned a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $22.23.
Get Our Latest Stock Analysis on Intel
Intel Trading Down 0.8 %
Shares of Intel stock opened at $20.34 on Wednesday. Intel Co. has a fifty-two week low of $17.67 and a fifty-two week high of $37.16. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.98 and a current ratio of 1.33. The firm has a market capitalization of $88.69 billion, a price-to-earnings ratio of -4.64 and a beta of 1.13. The stock has a 50 day moving average of $21.70 and a 200 day moving average of $21.82.
Intel (NASDAQ:INTC - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The chip maker reported $0.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.01 by $0.12. Intel had a negative return on equity of 3.27% and a negative net margin of 35.32%. The firm had revenue of $12.67 billion during the quarter, compared to the consensus estimate of $12.26 billion. During the same period last year, the company earned $0.18 EPS. The company's quarterly revenue was down .4% on a year-over-year basis. As a group, research analysts predict that Intel Co. will post -0.11 earnings per share for the current year.
Intel Profile
(
Free Report)
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.
Further Reading
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