First Manhattan CO. LLC. Boosts Stake in Intel Co. (NASDAQ:INTC)

First Manhattan CO. LLC. increased its holdings in Intel Co. (NASDAQ:INTC - Free Report) by 2,852.3% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 1,447,563 shares of the chip maker's stock after acquiring an additional 1,398,531 shares during the period. First Manhattan CO. LLC.'s holdings in Intel were worth $29,024,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in Intel by 1.7% during 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 stake in shares of Intel by 3.2% in 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 acquiring an additional 2,978,346 shares in the last quarter. Norges Bank purchased a new stake in shares of Intel during the fourth quarter worth $1,246,569,000. Northern Trust Corp grew its stake in Intel by 15.5% during the 4th quarter. Northern Trust Corp now owns 45,811,555 shares of the chip maker's stock worth $918,522,000 after purchasing an additional 6,157,853 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in Intel by 9.4% during the 4th quarter. Invesco Ltd. now owns 43,088,830 shares of the chip maker's stock worth $863,931,000 after purchasing an additional 3,696,377 shares during the period. 64.53% of the stock is currently owned by institutional investors and hedge funds.

Intel Trading Up 1.4%

INTC stock traded up $0.31 during midday trading on Tuesday, hitting $22.49. 47,886,727 shares of the company's stock were exchanged, compared to its average volume of 79,951,488. The company has a market cap of $98.10 billion, a PE ratio of -5.13 and a beta of 1.15. Intel Co. has a one year low of $17.67 and a one year high of $37.16. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.98 and a current ratio of 1.33. The stock's fifty day moving average price is $21.27 and its 200-day moving average price is $21.69.

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

Analysts Set New Price Targets

INTC has been the subject of several analyst reports. Citigroup reiterated a "sell" rating on shares of Intel in a report on Friday, April 25th. Truist Financial dropped their target price on shares of Intel from $22.00 to $21.00 and set a "hold" rating on the stock in a research report on Friday, January 31st. StockNews.com raised Intel from a "sell" rating to a "hold" rating in a report on Monday, April 28th. Cantor Fitzgerald dropped 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. Finally, Barclays reiterated a "reduce" rating on shares of Intel in a research report on Tuesday, April 22nd. Six equities research analysts have rated the stock with a sell rating, twenty-seven have issued a hold rating and one has given a buy rating to the company's stock. According to MarketBeat.com, Intel presently has an average rating of "Hold" and a consensus price target of $22.23.

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.