Candriam S.C.A. Reduces Holdings in Intel Co. (NASDAQ:INTC)

Candriam S.C.A. trimmed its stake in Intel Co. (NASDAQ:INTC) by 51.6% in the 4th quarter, HoldingsChannel reports. The firm owned 659,144 shares of the chip maker’s stock after selling 701,524 shares during the quarter. Candriam S.C.A.’s holdings in Intel were worth $13,216,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of INTC. Principal Financial Group Inc. lifted 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 worth $113,244,000 after purchasing an additional 204,200 shares during the period. Keynote Financial Services LLC lifted its position in Intel by 13.2% during the 3rd quarter. Keynote Financial Services LLC now owns 70,430 shares of the chip maker’s stock valued at $1,652,000 after acquiring an additional 8,239 shares during the period. Beacon Harbor Wealth Advisors Inc. lifted its position in Intel by 11.0% during the 3rd quarter. Beacon Harbor Wealth Advisors Inc. now owns 10,084 shares of the chip maker’s stock valued at $237,000 after acquiring an additional 1,000 shares during the period. Philip James Wealth Mangement LLC purchased a new position in Intel during the 3rd quarter valued at about $28,321,000. Finally, Capital Performance Advisors LLP purchased a new position in Intel during the 3rd quarter valued at about $36,000. 64.53% of the stock is owned by hedge funds and other institutional investors.

Intel Price Performance

Shares of NASDAQ:INTC opened at $20.64 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.33 and a quick ratio of 0.98. Intel Co. has a 1-year low of $18.51 and a 1-year high of $46.63. The company has a market capitalization of $89.37 billion, a P/E ratio of -4.71 and a beta of 1.02. The firm’s 50 day simple moving average is $21.30 and its two-hundred day simple moving average is $21.80.

Intel (NASDAQ:INTC) last issued its quarterly 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 net margin of 35.32% and a negative return on equity of 3.27%. Research analysts expect that Intel Co. will post -0.11 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently issued reports on INTC. Cantor Fitzgerald lifted their price target on shares of Intel from $22.00 to $29.00 and gave the company a “neutral” rating in a research report on Tuesday, February 18th. 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 research report on Friday, January 31st. Needham & Company LLC restated a “hold” rating on shares of Intel in a research note on Friday, January 31st. Roth Mkm reduced their price objective on shares of Intel from $25.00 to $20.00 and set a “neutral” rating for the company in a research note on Friday, January 31st. Finally, Bank of America restated an “underperform” rating and set a $21.00 price objective on shares of Intel in a research note on Tuesday, December 3rd. Five investment analysts have rated the stock with a sell rating, twenty-seven have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $26.88.

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.