Van ECK Associates Corp Decreases Stake in Intel Co. (NASDAQ:INTC)

Van ECK Associates Corp cut its stake in shares of Intel Co. (NASDAQ:INTC) by 2.5% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 42,903,798 shares of the chip maker’s stock after selling 1,110,138 shares during the period. Intel comprises approximately 1.1% of Van ECK Associates Corp’s portfolio, making the stock its 16th largest holding. Van ECK Associates Corp’s holdings in Intel were worth $860,221,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in the company. Swedbank AB increased its position in shares of Intel by 0.3% in the 3rd quarter. Swedbank AB now owns 1,666,889 shares of the chip maker’s stock valued at $39,105,000 after purchasing an additional 4,300 shares during the last quarter. Prospect Financial Services LLC acquired a new position in shares of Intel during the third quarter worth $276,000. 626 Financial LLC increased its holdings in Intel by 5.6% in the third quarter. 626 Financial LLC now owns 17,595 shares of the chip maker’s stock valued at $413,000 after buying an additional 929 shares during the last quarter. Applied Capital LLC FL raised its stake in Intel by 5.1% in the third quarter. Applied Capital LLC FL now owns 19,872 shares of the chip maker’s stock valued at $466,000 after buying an additional 965 shares in the last quarter. Finally, Jamison Private Wealth Management Inc. lifted its holdings in Intel by 3.7% during the 3rd quarter. Jamison Private Wealth Management Inc. now owns 126,494 shares of the chip maker’s stock worth $2,968,000 after buying an additional 4,558 shares during the last quarter. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

Intel Price Performance

INTC opened at $22.48 on Thursday. 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 business has a 50 day simple moving average of $20.20 and a 200-day simple moving average of $21.70. Intel Co. has a 12 month low of $18.51 and a 12 month high of $46.63.

Intel (NASDAQ:INTC) last issued its earnings results on Thursday, January 30th. The chip maker reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.12 by ($0.14). Intel had a negative return on equity of 3.27% and a negative net margin of 35.32%. On average, research analysts anticipate that Intel Co. will post -0.11 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on INTC. Wells Fargo & Company dropped their price objective on Intel from $28.00 to $25.00 and set an “equal weight” rating on the stock in a report on Friday, January 31st. Truist Financial lowered their price target on Intel from $22.00 to $21.00 and set a “hold” rating for the company in a report on Friday, January 31st. The Goldman Sachs Group cut their price objective on shares of Intel from $22.00 to $21.00 and set a “sell” rating on the stock in a report on Thursday, October 17th. Mizuho lowered their target price on shares of Intel from $23.00 to $21.00 and set a “neutral” rating for the company in a report on Friday, January 10th. Finally, Stifel Nicolaus dropped their target price on shares of Intel from $25.00 to $21.00 and set a “hold” rating on the stock in a research report on Friday, January 31st. Five analysts have rated the stock with a sell rating, twenty-seven have assigned a hold rating and one has issued 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 $26.60.

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.