Intel Co. (NASDAQ:INTC) Shares Purchased by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA increased its position in shares of Intel Co. (NASDAQ:INTC) by 20.2% in the 4th quarter, Holdings Channel reports. The firm owned 2,675,716 shares of the chip maker’s stock after purchasing an additional 449,872 shares during the period. Pictet Asset Management Holding SA’s holdings in Intel were worth $53,648,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Finley Financial LLC purchased a new stake in shares of Intel during the fourth quarter worth $25,000. Synergy Investment Management LLC purchased a new position in shares of Intel in the fourth quarter worth about $27,000. BankPlus Trust Department acquired a new position in Intel during the fourth quarter worth about $28,000. Keystone Financial Group Inc. purchased a new stake in Intel during the 4th quarter valued at about $29,000. Finally, Quest Partners LLC raised its holdings in Intel by 7,370.6% in the 3rd quarter. Quest Partners LLC now owns 1,270 shares of the chip maker’s stock valued at $30,000 after acquiring an additional 1,253 shares during the last quarter. 64.53% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on INTC shares. Hsbc Global Res upgraded Intel from a “moderate sell” rating to a “hold” rating in a research report on Tuesday, January 21st. Barclays lowered their price objective on Intel from $25.00 to $23.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. Roth Mkm cut their target price on Intel from $25.00 to $20.00 and set a “neutral” rating for the company in a research note on Friday, January 31st. Mizuho lowered their price target on shares of Intel from $23.00 to $21.00 and set a “neutral” rating on the stock in a research report on Friday, January 10th. Finally, Stifel Nicolaus reduced their target price on shares of Intel from $25.00 to $21.00 and set a “hold” rating on the stock in a research note on Friday, January 31st. Four analysts have rated the stock with a sell rating, twenty-eight have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $27.04.

Intel Trading Down 3.9 %

Shares of INTC stock opened at $22.71 on Friday. Intel Co. has a fifty-two week low of $18.51 and a fifty-two week high of $45.41. The company has a 50 day moving average price of $22.33 and a 200 day moving average price of $22.15. The stock has a market capitalization of $98.33 billion, a P/E ratio of -5.18 and a beta of 1.02. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.98 and a current ratio of 1.33.

Intel (NASDAQ:INTC) last posted its quarterly earnings results on Thursday, January 30th. The chip maker reported ($0.02) EPS 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%. Equities research analysts predict that Intel Co. will post -0.11 EPS 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.