Assenagon Asset Management S.A. Has $276.64 Million Stock Holdings in Intel Co. (NASDAQ:INTC)

Assenagon Asset Management S.A. cut its holdings in shares of Intel Co. (NASDAQ:INTC - Free Report) by 37.9% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,181,460 shares of the chip maker's stock after selling 7,435,628 shares during the quarter. Intel makes up approximately 0.5% of Assenagon Asset Management S.A.'s holdings, making the stock its 29th largest holding. Assenagon Asset Management S.A. owned about 0.28% of Intel worth $276,641,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Synergy Investment Management LLC purchased a new stake in Intel during the 4th quarter worth approximately $27,000. Vermillion Wealth Management Inc. purchased a new stake in Intel during the 4th quarter worth approximately $27,000. BankPlus Trust Department purchased a new stake in Intel during the 4th quarter worth approximately $28,000. Conquis Financial LLC purchased a new stake in Intel during the 4th quarter worth approximately $32,000. Finally, Pillar Financial Advisors LLC purchased a new stake in Intel during the 4th quarter worth approximately $34,000. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

Intel Stock Performance

INTC stock traded down $0.63 during trading on Friday, reaching $20.14. 87,385,210 shares of the company's stock were exchanged, compared to its average volume of 83,642,449. 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 Co. has a 1-year low of $17.67 and a 1-year high of $37.16. The company's fifty day moving average price is $20.43 and its 200-day moving average price is $21.16. The firm has a market cap of $87.85 billion, a PE ratio of -4.60 and a beta of 1.12.

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

Analysts Set New Price Targets

Several equities research analysts have issued reports on INTC shares. Rosenblatt Securities dropped their price objective on Intel from $18.00 to $14.00 and set a "sell" rating on the stock in a report on Friday, April 25th. Benchmark reiterated a "hold" rating on shares of Intel in a report on Friday, April 25th. Deutsche Bank Aktiengesellschaft started coverage on Intel in a report on Wednesday, May 21st. They issued a "hold" rating and a $23.00 price target for the company. Citigroup reiterated a "sell" rating on shares of Intel in a report on Friday, April 25th. Finally, JPMorgan Chase & Co. lowered their price target on Intel from $23.00 to $20.00 and set an "underweight" rating for the company in a report on Friday, April 25th. Six equities research analysts have rated the stock with a sell rating, twenty-five have given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $21.57.

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.