Sompo Asset Management Co. Ltd. Raises Stock Position in Intel Co. (NASDAQ:INTC)

Sompo Asset Management Co. Ltd. lifted its stake in Intel Co. (NASDAQ:INTC) by 46.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 263,849 shares of the chip maker’s stock after buying an additional 83,834 shares during the period. Sompo Asset Management Co. Ltd.’s holdings in Intel were worth $5,290,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Relyea Zuckerberg Hanson LLC grew its holdings in shares of Intel by 211.6% during the fourth quarter. Relyea Zuckerberg Hanson LLC now owns 28,898 shares of the chip maker’s stock worth $579,000 after purchasing an additional 19,625 shares during the last quarter. Principal Financial Group Inc. boosted its position 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 position in Intel during the 4th quarter worth approximately $276,000. InvesTrust acquired a new position in Intel during the fourth quarter worth approximately $3,696,000. Finally, Rheos Capital Works Inc. lifted its stake in Intel by 12.1% in the fourth quarter. Rheos Capital Works Inc. now owns 277,000 shares of the chip maker’s stock valued at $5,554,000 after buying an additional 30,000 shares during the last quarter. 64.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Truist Financial lowered their target price 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. Benchmark reissued a “hold” rating on shares of Intel in a research report on Friday, January 31st. HSBC raised shares of Intel from a “reduce” rating to a “hold” rating in a report on Tuesday, January 21st. Hsbc Global Res raised Intel from a “moderate sell” rating to a “hold” rating in a report on Tuesday, January 21st. Finally, Bank of America upgraded Intel from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $19.00 to $25.00 in a research report on Thursday, March 13th. 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’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $24.25.

Intel Price Performance

Intel stock opened at $19.51 on Wednesday. The company has a quick ratio of 0.98, a current ratio of 1.33 and a debt-to-equity ratio of 0.44. The firm’s 50-day simple moving average is $22.17 and its 200 day simple moving average is $21.91. Intel Co. has a 52 week low of $17.67 and a 52 week high of $37.16. The firm has a market capitalization of $85.08 billion, a PE ratio of -4.45 and a beta of 1.13.

Intel (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, January 30th. The chip maker reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.14). Intel had a negative net margin of 35.32% and a negative return on equity of 3.27%. On average, equities research analysts predict 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.