Harmony Asset Management LLC Takes $324,000 Position in Intel Co. (NASDAQ:INTC)

Harmony Asset Management LLC bought a new position in shares of Intel Co. (NASDAQ:INTC - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 16,162 shares of the chip maker's stock, valued at approximately $324,000.

A number of other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in 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 buying an additional 6,143,164 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Intel by 3.2% in the fourth quarter. Geode Capital Management LLC now owns 95,488,444 shares of the chip maker's stock valued at $1,909,761,000 after acquiring an additional 2,978,346 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Intel by 8.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 63,263,339 shares of the chip maker's stock valued at $1,268,430,000 after acquiring an additional 4,793,927 shares in the last quarter. Norges Bank acquired a new position in shares of Intel in the fourth quarter valued at about $1,246,569,000. Finally, Northern Trust Corp increased 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 worth $918,522,000 after acquiring an additional 6,157,853 shares during the period. Institutional investors and hedge funds own 64.53% of the company's stock.

Intel Trading Down 2.4%

NASDAQ INTC traded down $0.50 on Friday, hitting $20.05. The company's stock had a trading volume of 67,948,899 shares, compared to its average volume of 80,842,262. The company's 50-day moving average is $21.19 and its 200 day moving average is $21.64. The firm has a market cap of $87.46 billion, a PE ratio of -4.58 and a beta of 1.15. Intel Co. has a 1-year low of $17.67 and a 1-year 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 data on Thursday, April 24th. The chip maker reported $0.13 earnings per share for the quarter, beating analysts' consensus estimates of $0.01 by $0.12. The business had revenue of $12.67 billion during the quarter, compared to the consensus estimate of $12.26 billion. Intel had a negative return on equity of 3.27% and a negative net margin of 35.32%. Intel's quarterly revenue was down .4% on a year-over-year basis. During the same period in the prior year, the business posted $0.18 earnings per share. As a group, analysts predict that Intel Co. will post -0.11 earnings per share for the current fiscal year.

Analysts Set New Price Targets

INTC has been the topic of a number of analyst reports. Bank of America upgraded shares of Intel from an "underperform" rating to a "neutral" rating and increased their target price for the stock from $19.00 to $25.00 in a research report on Thursday, March 13th. Morgan Stanley reduced their price target on Intel from $25.00 to $23.00 and set an "equal weight" rating on the stock in a research report on Friday, April 25th. Needham & Company LLC reaffirmed 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 on the stock in a report on Friday, April 25th. Finally, Cfra Research upgraded Intel to a "hold" rating in a research report on Friday, April 25th. Six investment analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $21.57.

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.