Cacti Asset Management LLC Increases Stock Position in Intel Co. (NASDAQ:INTC)

Cacti Asset Management LLC lifted its stake in shares of Intel Co. (NASDAQ:INTC - Free Report) by 17.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 144,197 shares of the chip maker's stock after purchasing an additional 21,097 shares during the quarter. Cacti Asset Management LLC's holdings in Intel were worth $3,275,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of Intel by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 369,099,204 shares of the chip maker's stock worth $7,400,439,000 after purchasing an additional 6,143,164 shares during the period. Geode Capital Management LLC grew its position in Intel by 3.2% during the fourth quarter. Geode Capital Management LLC now owns 95,488,444 shares of the chip maker's stock worth $1,909,761,000 after buying an additional 2,978,346 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Intel by 8.2% in the 4th 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 worth $1,268,430,000 after acquiring an additional 4,793,927 shares during the last quarter. Norges Bank purchased a new stake in shares of Intel in the 4th quarter valued at about $1,246,569,000. Finally, Northern Trust Corp raised its holdings in shares of Intel by 15.5% in the 4th 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. 64.53% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

INTC has been the topic of several research analyst reports. Rosenblatt Securities decreased their price objective on shares of Intel from $18.00 to $14.00 and set a "sell" rating on the stock in a research report on Friday, April 25th. Susquehanna lowered their price objective on shares of Intel from $24.00 to $22.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 16th. Cantor Fitzgerald cut their target price on shares of Intel from $29.00 to $20.00 and set a "neutral" rating for the company in a research report on Monday, April 21st. Truist Financial reduced their target price on Intel from $22.00 to $21.00 and set a "hold" rating on the stock in a research note on Friday, January 31st. Finally, Sanford C. Bernstein dropped their price target on Intel from $25.00 to $21.00 and set a "market perform" rating for the company in a research note on Tuesday, April 22nd. Six research analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $21.57.

Intel Stock Down 3.8%

INTC traded down $0.76 on Friday, hitting $19.49. The company had a trading volume of 113,992,028 shares, compared to its average volume of 81,434,018. 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 Co. has a 52-week low of $17.67 and a 52-week high of $37.16. The stock has a fifty day simple moving average of $20.77 and a 200-day simple moving average of $21.47. The firm has a market capitalization of $85.02 billion, a P/E ratio of -4.45 and a beta of 1.15.

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

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.