Comerica Bank Lowers Stock Holdings in Intel Co. (NASDAQ:INTC)

Comerica Bank cut its stake in shares of Intel Co. (NASDAQ:INTC - Free Report) by 6.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,049,279 shares of the chip maker's stock after selling 78,329 shares during the period. Comerica Bank's holdings in Intel were worth $21,038,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Relyea Zuckerberg Hanson LLC lifted its holdings in shares of Intel by 211.6% during the fourth quarter. Relyea Zuckerberg Hanson LLC now owns 28,898 shares of the chip maker's stock worth $579,000 after purchasing an additional 19,625 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Intel by 4.4% in the 3rd quarter. Principal Financial Group Inc. now owns 4,827,123 shares of the chip maker's stock worth $113,244,000 after acquiring an additional 204,200 shares during the period. Empirical Asset Management LLC purchased a new stake in shares of Intel in the fourth quarter valued at about $276,000. InvesTrust acquired a new position in shares of Intel during the fourth quarter worth about $3,696,000. Finally, Rheos Capital Works Inc. raised its holdings in Intel by 12.1% during the fourth quarter. Rheos Capital Works Inc. now owns 277,000 shares of the chip maker's stock worth $5,554,000 after purchasing an additional 30,000 shares in the last quarter. 64.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on INTC shares. Stifel Nicolaus dropped their target price on Intel from $25.00 to $21.00 and set a "hold" rating on the stock in a research report on Friday, January 31st. Wells Fargo & Company dropped their price objective on Intel from $25.00 to $22.00 and set an "equal weight" rating on the stock in a report on Friday, April 25th. Roth Mkm reduced their target price on Intel from $25.00 to $20.00 and set a "neutral" rating for the company in a report on Friday, January 31st. Seaport Res Ptn raised shares of Intel to a "strong sell" rating in a research note on Wednesday. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Intel in a research note on Friday, April 25th. Six investment analysts have rated the stock with a sell rating, twenty-seven have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $22.23.

Intel Price Performance

INTC stock opened at $19.98 on Friday. The stock has a market capitalization of $87.12 billion, a price-to-earnings ratio of -4.56 and a beta of 1.13. The stock's fifty day simple moving average is $21.52 and its 200-day simple moving average is $21.79. Intel Co. has a 52-week low of $17.67 and a 52-week high of $37.16. The company has a quick ratio of 0.98, a current ratio of 1.33 and a debt-to-equity ratio of 0.44.

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

Want to see what other hedge funds are holding INTC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Intel Co. (NASDAQ:INTC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.