Northcape Wealth Management LLC Has $645,000 Position in Intel Co. (NASDAQ:INTC)

Northcape Wealth Management LLC cut its stake in shares of Intel Co. (NASDAQ:INTC) by 3.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 32,175 shares of the chip maker’s stock after selling 983 shares during the quarter. Northcape Wealth Management LLC’s holdings in Intel were worth $645,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC boosted its position in Intel by 4.6% in the third quarter. Geode Capital Management LLC now owns 92,510,098 shares of the chip maker’s stock valued at $2,162,891,000 after buying an additional 4,103,553 shares in the last quarter. Relyea Zuckerberg Hanson LLC grew its position in Intel by 211.6% during the 4th quarter. Relyea Zuckerberg Hanson LLC now owns 28,898 shares of the chip maker’s stock worth $579,000 after acquiring an additional 19,625 shares during the last quarter. Principal Financial Group Inc. increased its holdings in Intel by 4.4% during the 3rd quarter. Principal Financial Group Inc. now owns 4,827,123 shares of the chip maker’s stock valued at $113,244,000 after purchasing an additional 204,200 shares in the last quarter. Empirical Asset Management LLC bought a new position in Intel in the 4th quarter valued at $276,000. Finally, Swiss National Bank boosted its stake in Intel by 0.3% in the third quarter. Swiss National Bank now owns 12,635,400 shares of the chip maker’s stock worth $296,426,000 after purchasing an additional 31,800 shares in the last quarter. Institutional investors and hedge funds own 64.53% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on INTC shares. UBS Group cut their price target on Intel from $26.00 to $23.00 and set a “neutral” rating for the company in a report on Tuesday, January 21st. Truist Financial lowered their price target on shares of Intel from $22.00 to $21.00 and set a “hold” rating for the company in a report on Friday, January 31st. Stifel Nicolaus reduced their price objective on Intel from $25.00 to $21.00 and set a “hold” rating on the stock in a report on Friday, January 31st. Cantor Fitzgerald lifted their target price on Intel from $22.00 to $29.00 and gave the company a “neutral” rating in a research note on Tuesday. Finally, Northland Securities cut their price target on Intel from $42.00 to $28.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Five 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. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $26.88.

Intel Price Performance

NASDAQ INTC opened at $27.39 on Wednesday. Intel Co. has a 52-week low of $18.51 and a 52-week high of $46.63. 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 $20.38 and a 200 day simple moving average of $21.52.

Intel (NASDAQ:INTC) last issued its quarterly earnings data on Thursday, January 30th. The chip maker reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.14). Intel had a negative return on equity of 3.27% and a negative net margin of 35.32%. As a group, analysts forecast that Intel Co. will post -0.11 EPS for the current fiscal 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.