CastleKnight Management LP Sells 30,000 Shares of Intel Co. (NASDAQ:INTC)

CastleKnight Management LP cut its stake in shares of Intel Co. (NASDAQ:INTC - Free Report) by 16.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 152,700 shares of the chip maker's stock after selling 30,000 shares during the period. CastleKnight Management LP's holdings in Intel were worth $3,062,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in INTC. Principal Financial Group Inc. lifted its holdings in Intel by 4.4% during the third quarter. Principal Financial Group Inc. now owns 4,827,123 shares of the chip maker's stock worth $113,244,000 after acquiring an additional 204,200 shares in the last quarter. Nordea Investment Management AB raised its position in shares of Intel by 6.0% during the fourth quarter. Nordea Investment Management AB now owns 349,657 shares of the chip maker's stock worth $7,028,000 after purchasing an additional 19,895 shares during the period. Neville Rodie & Shaw Inc. lifted its holdings in shares of Intel by 23.9% during the 4th quarter. Neville Rodie & Shaw Inc. now owns 67,910 shares of the chip maker's stock valued at $1,361,000 after purchasing an additional 13,095 shares in the last quarter. Diversified Trust Co grew its position in shares of Intel by 1.8% in the 4th quarter. Diversified Trust Co now owns 83,791 shares of the chip maker's stock valued at $1,680,000 after purchasing an additional 1,445 shares during the period. Finally, InvesTrust bought a new stake in Intel during the 4th quarter worth approximately $3,696,000. Institutional investors own 64.53% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on INTC. Bank of America upgraded shares of Intel from an "underperform" rating to a "neutral" rating and upped their price target for the company from $19.00 to $25.00 in a report on Thursday, March 13th. Sanford C. Bernstein reduced their target price on shares of Intel from $25.00 to $21.00 and set a "market perform" rating for the company in a research note on Tuesday, April 22nd. UBS Group dropped their price target on Intel from $22.00 to $21.00 and set a "neutral" rating on the stock in a research note on Friday, April 25th. Roth Mkm reduced their price objective on Intel from $25.00 to $20.00 and set a "neutral" rating for the company in a research report on Friday, January 31st. Finally, Morgan Stanley dropped their target price on Intel from $25.00 to $23.00 and set an "equal weight" rating on the stock in a research report on Friday, April 25th. Six 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 stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $22.23.

Intel Stock Performance

INTC stock traded up $0.44 during mid-day trading on Friday, hitting $21.44. 51,561,056 shares of the company were exchanged, compared to its average volume of 79,728,341. Intel Co. has a 1-year low of $17.67 and a 1-year high of $37.16. The stock has a market capitalization of $93.52 billion, a PE ratio of -4.89 and a beta of 1.15. The business has a 50 day simple moving average of $21.24 and a 200-day simple moving average of $21.71. The company has a current ratio of 1.33, a quick ratio of 0.98 and a debt-to-equity ratio of 0.44.

Intel (NASDAQ:INTC - Get Free Report) last announced its earnings results on Thursday, April 24th. The chip maker reported $0.13 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 company had revenue of $12.67 billion during the quarter, compared to analysts' expectations of $12.26 billion. During the same quarter in the previous year, the business posted $0.18 earnings per share. Intel's quarterly revenue was down .4% on a year-over-year basis. On average, equities analysts forecast that Intel Co. will post -0.11 earnings per share for the current year.

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.