Intel Co. (NASDAQ:INTC) Position Reduced by Legal & General Group Plc

Legal & General Group Plc reduced its position in Intel Co. (NASDAQ:INTC) by 27.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 32,815,822 shares of the chip maker’s stock after selling 12,130,378 shares during the period. Legal & General Group Plc’s holdings in Intel were worth $657,957,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Geode Capital Management LLC raised its position in Intel by 4.6% during 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 during the period. Relyea Zuckerberg Hanson LLC grew its stake in 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 acquiring an additional 19,625 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Intel by 4.4% in 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 during the period. Empirical Asset Management LLC purchased a new stake in shares of Intel in the fourth quarter worth approximately $276,000. Finally, InvesTrust acquired a new stake in shares of Intel during the fourth quarter worth approximately $3,696,000. Institutional investors and hedge funds own 64.53% of the company’s stock.

Intel Trading Down 11.5 %

Shares of NASDAQ INTC opened at $19.85 on Monday. Intel Co. has a fifty-two week low of $18.51 and a fifty-two week high of $38.86. The company’s 50 day simple moving average is $22.36 and its 200 day simple moving average is $22.21. 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 has a market capitalization of $86.56 billion, a P/E ratio of -4.53 and a beta of 1.13.

Intel (NASDAQ:INTC) last posted its earnings results on Thursday, January 30th. The chip maker reported ($0.02) earnings per share 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, analysts predict that Intel Co. will post -0.11 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Cantor Fitzgerald boosted their price target on shares of Intel from $22.00 to $29.00 and gave the company a “neutral” rating in a report on Tuesday, February 18th. Citigroup reduced their price target on Intel from $22.00 to $21.00 and set a “neutral” rating for the company in a report on Tuesday, January 21st. Truist Financial cut their price objective on shares of Intel from $22.00 to $21.00 and set a “hold” rating on the stock in a research report on Friday, January 31st. Mizuho dropped their price target on shares of Intel from $23.00 to $21.00 and set a “neutral” rating on the stock in a research note on Friday, January 10th. Finally, HSBC upgraded shares of Intel from a “reduce” rating to a “hold” rating in a report on Tuesday, January 21st. Four investment analysts have rated the stock with a sell rating, twenty-eight have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $25.58.

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.