1ST Source Bank Sells 3,745 Shares of Intel Co. (NASDAQ:INTC)

1ST Source Bank cut its holdings in Intel Co. (NASDAQ:INTC) by 11.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,672 shares of the chip maker’s stock after selling 3,745 shares during the period. 1ST Source Bank’s holdings in Intel were worth $595,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. State Street Corp boosted its holdings in Intel by 2.8% during the third quarter. State Street Corp now owns 197,958,739 shares of the chip maker’s stock valued at $4,644,112,000 after acquiring an additional 5,417,753 shares during the period. Geode Capital Management LLC boosted its holdings 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 acquiring an additional 4,103,553 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Intel by 28.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 58,469,412 shares of the chip maker’s stock valued at $1,371,692,000 after acquiring an additional 12,865,308 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Intel by 7.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 33,938,760 shares of the chip maker’s stock valued at $680,472,000 after acquiring an additional 2,248,342 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in Intel by 0.3% during the fourth quarter. Bank of New York Mellon Corp now owns 30,616,197 shares of the chip maker’s stock valued at $613,855,000 after acquiring an additional 86,483 shares during the period. 64.53% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on INTC shares. Rosenblatt Securities restated a “sell” rating and set a $20.00 price target on shares of Intel in a report on Thursday, January 30th. Bank of America raised shares of Intel from an “underperform” rating to a “neutral” rating and upped their price objective for the company from $19.00 to $25.00 in a research report on Thursday, March 13th. Barclays cut their price objective on shares of Intel from $25.00 to $23.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. Roth Mkm cut their price objective on shares of Intel from $25.00 to $20.00 and set a “neutral” rating for the company in a research report on Friday, January 31st. Finally, JPMorgan Chase & Co. cut their price objective on shares of Intel from $26.00 to $23.00 and set an “underweight” rating for the company in a research report on Friday, January 31st. Four analysts have rated the stock with a sell rating, twenty-eight have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, Intel has an average rating of “Hold” and an average price target of $27.04.

Intel Price Performance

INTC opened at $25.69 on Tuesday. Intel Co. has a one year low of $18.51 and a one year high of $45.41. 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 company’s 50 day simple moving average is $21.56 and its 200-day simple moving average is $21.90. The stock has a market capitalization of $111.24 billion, a P/E ratio of -5.87 and a beta of 1.02.

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

Intel Company 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.