Intel Co. (NASDAQ:INTC) Shares Sold by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD decreased its holdings in Intel Co. (NASDAQ:INTC - Free Report) by 0.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,927,928 shares of the chip maker's stock after selling 66,320 shares during the quarter. Price T Rowe Associates Inc. MD owned 0.34% of Intel worth $299,306,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in INTC. Relyea Zuckerberg Hanson LLC raised its position in shares of Intel by 211.6% during the 4th quarter. Relyea Zuckerberg Hanson LLC now owns 28,898 shares of the chip maker's stock valued at $579,000 after purchasing an additional 19,625 shares during the period. Principal Financial Group Inc. lifted its position in shares of Intel by 4.4% in the third quarter. Principal Financial Group Inc. now owns 4,827,123 shares of the chip maker's stock valued at $113,244,000 after acquiring an additional 204,200 shares in the last quarter. Empirical Asset Management LLC bought a new stake in Intel during the 4th quarter valued at approximately $276,000. InvesTrust bought a new position in Intel in the 4th quarter worth approximately $3,696,000. Finally, Rheos Capital Works Inc. boosted its position in shares of Intel by 12.1% during the fourth quarter. Rheos Capital Works Inc. now owns 277,000 shares of the chip maker's stock worth $5,554,000 after acquiring an additional 30,000 shares during the last quarter. 64.53% of the stock is owned by hedge funds and other institutional investors.

Intel Stock Performance

Intel stock traded down $0.49 during trading hours on Wednesday, hitting $19.85. 25,757,224 shares of the stock traded hands, compared to its average volume of 79,364,812. 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 $86.57 billion, a price-to-earnings ratio of -4.52 and a beta of 1.13. 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 firm's 50 day moving average price is $21.70 and its 200-day moving average price is $21.82.

Intel (NASDAQ:INTC - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The chip maker reported $0.13 earnings per share 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 company had revenue of $12.67 billion for the quarter, compared to the consensus estimate of $12.26 billion. During the same quarter in the prior year, the company earned $0.18 EPS. Intel's quarterly revenue was down .4% on a year-over-year basis. As a group, equities analysts expect that Intel Co. will post -0.11 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Bank of America raised shares of Intel from an "underperform" rating to a "neutral" rating and increased their price objective for the company from $19.00 to $25.00 in a report on Thursday, March 13th. Hsbc Global Res raised shares of Intel from a "moderate sell" rating to a "hold" rating in a research note on Tuesday, January 21st. Wedbush dropped their target price on Intel from $20.00 to $19.00 and set a "neutral" rating for the company in a research report on Wednesday, April 23rd. Rosenblatt Securities decreased their target price on Intel from $18.00 to $14.00 and set a "sell" rating for the company in a research report on Friday, April 25th. Finally, UBS Group dropped their target price on shares of Intel from $22.00 to $21.00 and set a "neutral" rating on the stock in a research note on Friday, April 25th. Five analysts have rated the stock with a sell rating, twenty-seven have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $22.23.

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.