Fjarde AP Fonden Fourth Swedish National Pension Fund Cuts Stake in Intel Corporation (NASDAQ:INTC)

Key Points

• Fjarde AP Fonden Fourth Swedish National Pension Fund reduced its stake in Intel Corporation by 17.5% during Q1, now holding 579,211 shares worth approximately $13.15 million.
• On the flip side, Neuberger Berman Group LLC significantly increased its position in Intel by over 1,091%, owning over 11 million shares valued at approximately $254.64 million.
• Analysts have issued mixed ratings for Intel, with six giving it a sell rating, while the consensus price target has dropped to $22.17.

Fjarde AP Fonden Fourth Swedish National Pension Fund cut its stake in Intel Corporation (NASDAQ:INTC - Free Report) by 17.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 579,211 shares of the chip maker's stock after selling 122,800 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in Intel were worth $13,154,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Neuberger Berman Group LLC raised its position in Intel by 1,091.1% in the first quarter. Neuberger Berman Group LLC now owns 11,204,926 shares of the chip maker's stock valued at $254,641,000 after purchasing an additional 10,264,175 shares during the period. William B. Walkup & Associates Inc. raised its position in Intel by 4.6% in the first quarter. William B. Walkup & Associates Inc. now owns 73,158 shares of the chip maker's stock valued at $1,661,000 after purchasing an additional 3,224 shares during the period. E Fund Management Co. Ltd. raised its position in Intel by 119.3% in the first quarter. E Fund Management Co. Ltd. now owns 307,823 shares of the chip maker's stock valued at $6,991,000 after purchasing an additional 167,477 shares during the period. Tokio Marine Asset Management Co. Ltd. increased its position in shares of Intel by 7.4% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 132,193 shares of the chip maker's stock worth $3,002,000 after acquiring an additional 9,060 shares during the last quarter. Finally, S Bank Fund Management Ltd purchased a new stake in shares of Intel during the first quarter worth about $1,088,000. 64.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on INTC. Barclays reaffirmed a "reduce" rating on shares of Intel in a research report on Tuesday, April 22nd. Cantor Fitzgerald dropped their target price on Intel from $29.00 to $20.00 and set a "neutral" rating on the stock in a research report on Monday, April 21st. Wedbush dropped their target price on Intel from $20.00 to $19.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 23rd. Wells Fargo & Company dropped their target price on Intel from $25.00 to $22.00 and set an "equal weight" rating on the stock in a research report on Friday, April 25th. Finally, Citigroup reaffirmed a "hold" rating on shares of Intel in a research report on Tuesday, July 8th. Six investment analysts have rated the stock with a sell rating, twenty-three have issued a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat, Intel has a consensus rating of "Hold" and a consensus price target of $22.17.

Intel Stock Performance

INTC opened at $23.86 on Friday. The company has a market capitalization of $104.44 billion, a price-to-earnings ratio of -5.00 and a beta of 1.22. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.24 and a quick ratio of 0.92. Intel Corporation has a 1-year low of $17.67 and a 1-year high of $27.55. The business has a 50 day moving average price of $21.72 and a two-hundred day moving average price of $21.51.

Intel (NASDAQ:INTC - Get Free Report) last released its earnings results on Thursday, July 24th. The chip maker reported ($0.10) earnings per share for the quarter, missing analysts' consensus estimates of $0.01 by ($0.11). The firm had revenue of $12.86 billion during the quarter, compared to analyst estimates of $11.88 billion. Intel had a negative return on equity of 3.78% and a negative net margin of 38.64%. The business's revenue for the quarter was up .5% on a year-over-year basis. During the same quarter last year, the company earned $0.02 earnings per share. Research analysts predict that Intel Corporation will post -0.11 EPS for the current fiscal year.

Intel Company 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.

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