Fifth Third Bancorp Cuts Stock Holdings in Intel Co. (NASDAQ:INTC)

Fifth Third Bancorp cut its holdings in Intel Co. (NASDAQ:INTC - Free Report) by 13.1% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 575,366 shares of the chip maker's stock after selling 87,022 shares during the quarter. Fifth Third Bancorp's holdings in Intel were worth $13,067,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Vermillion Wealth Management Inc. acquired a new stake in Intel in the fourth quarter valued at about $27,000. Synergy Investment Management LLC acquired a new stake in Intel in the fourth quarter valued at about $27,000. BankPlus Trust Department acquired a new stake in Intel in the fourth quarter valued at about $28,000. Conquis Financial LLC acquired a new stake in shares of Intel during the fourth quarter valued at about $32,000. Finally, IMG Wealth Management Inc. acquired a new stake in shares of Intel during the fourth quarter valued at about $34,000. 64.53% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on INTC shares. Cantor Fitzgerald cut their price target on Intel from $29.00 to $20.00 and set a "neutral" rating on the stock in a research note on Monday, April 21st. Deutsche Bank Aktiengesellschaft started coverage on Intel in a research note on Wednesday, May 21st. They set a "hold" rating and a $23.00 price target on the stock. Bank of America raised Intel from an "underperform" rating to a "neutral" rating and lifted their price target for the company from $19.00 to $25.00 in a research note on Thursday, March 13th. JPMorgan Chase & Co. cut their price target on Intel from $23.00 to $20.00 and set an "underweight" rating on the stock in a research note on Friday, April 25th. Finally, Wall Street Zen raised Intel from a "sell" rating to a "hold" rating in a research note on Saturday, May 24th. Six analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Intel has a consensus rating of "Hold" and an average price target of $21.57.

Intel Trading Down 3.0%

INTC stock traded down $0.63 during mid-day trading on Friday, reaching $20.14. The company's stock had a trading volume of 87,385,210 shares, compared to its average volume of 83,642,449. The company has a market cap of $87.85 billion, a price-to-earnings ratio of -4.60 and a beta of 1.12. The business's 50 day moving average price is $20.43 and its 200 day moving average price is $21.12. The company has a current ratio of 1.33, a quick ratio of 0.98 and a debt-to-equity ratio of 0.44. Intel Co. has a 12 month low of $17.67 and a 12 month high of $37.16.

Intel (NASDAQ:INTC - Get Free Report) last issued its earnings results on Thursday, April 24th. The chip maker reported $0.13 earnings per share for the quarter, topping 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%. The firm's revenue for the quarter was down .4% on a year-over-year basis. During the same period in the previous year, the company posted $0.18 earnings per share. On average, equities research analysts predict 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.