Freestone Grove Partners LP acquired a new stake in Intel Co. (NASDAQ:INTC - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,124,910 shares of the chip maker's stock, valued at approximately $62,654,000. Intel accounts for approximately 0.8% of Freestone Grove Partners LP's investment portfolio, making the stock its 25th largest position. Freestone Grove Partners LP owned approximately 0.07% of Intel at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of INTC. Vanguard Group Inc. lifted its holdings in shares of Intel by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 369,099,204 shares of the chip maker's stock valued at $7,400,439,000 after buying an additional 6,143,164 shares during the period. Geode Capital Management LLC raised its position in Intel by 3.2% during the fourth quarter. Geode Capital Management LLC now owns 95,488,444 shares of the chip maker's stock valued at $1,909,761,000 after acquiring an additional 2,978,346 shares in the last quarter. Norges Bank acquired a new position in Intel in the fourth quarter valued at approximately $1,246,569,000. Northern Trust Corp boosted its position in Intel by 15.5% in 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 shares of Intel by 9.4% during the 4th quarter. Invesco Ltd. now owns 43,088,830 shares of the chip maker's stock valued at $863,931,000 after purchasing an additional 3,696,377 shares in the last quarter. 64.53% of the stock is currently owned by hedge funds and other institutional investors.
Intel Trading Down 1.1 %
Shares of NASDAQ:INTC traded down $0.24 during midday trading on Monday, reaching $20.39. 16,619,059 shares of the company's stock were exchanged, compared to its average volume of 101,934,047. The firm's 50 day simple moving average is $21.47 and its two-hundred day simple moving average is $21.76. Intel Co. has a fifty-two week low of $17.67 and a fifty-two week high of $37.16. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.33 and a quick ratio of 0.98. The stock has a market cap of $88.92 billion, a price-to-earnings ratio of -4.65 and a beta of 1.15.
Intel (NASDAQ:INTC - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The chip maker reported $0.13 EPS for the quarter, topping the consensus estimate of $0.01 by $0.12. Intel had a negative net margin of 35.32% and a negative return on equity of 3.27%. The firm had revenue of $12.67 billion for the quarter, compared to analyst estimates of $12.26 billion. During the same period in the prior year, the business posted $0.18 EPS. The business's revenue for the quarter was down .4% compared to the same quarter last year. As a group, sell-side analysts forecast that Intel Co. will post -0.11 EPS for the current fiscal year.
Analysts Set New Price Targets
Several equities analysts recently weighed in on the company. Susquehanna cut their price target on Intel from $24.00 to $22.00 and set a "neutral" rating for the company in a research note on Wednesday, April 16th. Rosenblatt Securities cut their price objective on Intel from $18.00 to $14.00 and set a "sell" rating for the company in a research report on Friday, April 25th. Truist Financial decreased their target price on Intel from $22.00 to $21.00 and set a "hold" rating on the stock in a research report on Friday, January 31st. Cfra Research raised shares of Intel to a "hold" rating in a report on Friday, April 25th. Finally, Cantor Fitzgerald reduced their price objective on shares of Intel from $29.00 to $20.00 and set a "neutral" rating for the company in a research report on Monday, April 21st. Six research analysts have rated the stock with a sell rating, twenty-seven have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Intel presently has an average rating of "Hold" and a consensus target price of $22.23.
Read Our Latest Research Report on INTC
About Intel
(
Free Report)
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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