Maryland State Retirement & Pension System Sells 25,204 Shares of Intel Corporation (NASDAQ:INTC)

Maryland State Retirement & Pension System trimmed its holdings in Intel Corporation (NASDAQ:INTC - Free Report) by 11.0% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 203,012 shares of the chip maker's stock after selling 25,204 shares during the quarter. Maryland State Retirement & Pension System's holdings in Intel were worth $4,610,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Federated Hermes Inc. grew its stake in shares of Intel by 0.3% during the 4th quarter. Federated Hermes Inc. now owns 162,757 shares of the chip maker's stock valued at $3,263,000 after purchasing an additional 456 shares during the period. FMR LLC boosted its holdings in shares of Intel by 4.3% in the fourth quarter. FMR LLC now owns 5,878,501 shares of the chip maker's stock worth $117,864,000 after buying an additional 242,544 shares during the last quarter. Cerity Partners LLC grew its position in Intel by 4.0% during the fourth quarter. Cerity Partners LLC now owns 875,963 shares of the chip maker's stock valued at $17,882,000 after buying an additional 33,390 shares during the period. Raymond James Financial Inc. purchased a new stake in Intel during the fourth quarter valued at approximately $53,465,000. Finally, Bessemer Group Inc. raised its position in Intel by 1.1% in the fourth quarter. Bessemer Group Inc. now owns 63,101 shares of the chip maker's stock worth $1,265,000 after acquiring an additional 715 shares during the period. Hedge funds and other institutional investors own 64.53% of the company's stock.

Intel Trading Down 3.1%

Shares of INTC opened at $19.77 on Friday. The firm has a market capitalization of $86.53 billion, a price-to-earnings ratio of -4.14 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 company has a 50-day moving average of $21.56 and a 200 day moving average of $21.51.

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

Wall Street Analysts Forecast Growth

Several research firms have recently commented on INTC. Needham & Company LLC restated a "hold" rating on shares of Intel in a research note on Friday, July 25th. JPMorgan Chase & Co. boosted their price target on Intel from $20.00 to $21.00 and gave the company an "underweight" rating in a report on Friday, July 25th. UBS Group raised their price objective on Intel from $21.00 to $25.00 and gave the stock a "neutral" rating in a research note on Monday, July 14th. Cfra Research upgraded Intel to a "hold" rating in a research note on Friday, April 25th. Finally, Wedbush reduced their target price on shares of Intel from $20.00 to $19.00 and set a "neutral" rating for the company in a report on Wednesday, April 23rd. Six analysts have rated the stock with a sell rating, twenty-three have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $22.17.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.