Renaissance Technologies LLC Acquires New Stake in Intel Co. (NASDAQ:INTC)

Renaissance Technologies LLC bought a new stake in shares of Intel Co. (NASDAQ:INTC) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 4,657,994 shares of the chip maker’s stock, valued at approximately $93,393,000. Renaissance Technologies LLC owned 0.11% of Intel at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new position in Intel in the 4th quarter valued at approximately $1,246,569,000. Assenagon Asset Management S.A. grew its stake in Intel by 264.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 19,617,088 shares of the chip maker’s stock worth $393,323,000 after purchasing an additional 14,227,458 shares in the last quarter. Vanguard Group Inc. increased its holdings in Intel by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 369,099,204 shares of the chip maker’s stock worth $7,400,439,000 after purchasing an additional 6,143,164 shares during the period. Geode Capital Management LLC raised its position in Intel by 4.6% in the 3rd quarter. Geode Capital Management LLC now owns 92,510,098 shares of the chip maker’s stock valued at $2,162,891,000 after purchasing an additional 4,103,553 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Intel by 9.4% in the 4th quarter. Invesco Ltd. now owns 43,088,830 shares of the chip maker’s stock valued at $863,931,000 after buying an additional 3,696,377 shares during the period. 64.53% of the stock is owned by institutional investors and hedge funds.

Intel Trading Down 7.4 %

Shares of Intel stock opened at $18.13 on Wednesday. The firm has a market cap of $79.06 billion, a price-to-earnings ratio of -4.14 and a beta of 1.13. Intel Co. has a 52-week low of $17.67 and a 52-week high of $38.58. The company’s 50-day simple moving average is $22.28 and its 200-day simple moving average is $22.15. The company has a quick ratio of 0.98, a current ratio of 1.33 and a debt-to-equity ratio of 0.44.

Intel (NASDAQ:INTC) last issued its earnings results 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 return on equity of 3.27% and a negative net margin of 35.32%. As a group, equities research analysts anticipate that Intel Co. will post -0.11 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on INTC shares. Wells Fargo & Company reduced their target price on shares of Intel from $28.00 to $25.00 and set an “equal weight” rating on the stock in a report on Friday, January 31st. Needham & Company LLC restated a “hold” rating on shares of Intel in a report on Friday, January 31st. Rosenblatt Securities reiterated a “sell” rating and set a $20.00 target price on shares of Intel in a research note on Thursday, January 30th. Truist Financial cut their price target on Intel from $22.00 to $21.00 and set a “hold” rating on the stock in a research note on Friday, January 31st. Finally, JPMorgan Chase & Co. lowered their price objective on Intel from $26.00 to $23.00 and set an “underweight” rating for the company in a research report on Friday, January 31st. Four research analysts have rated the stock with a sell rating, twenty-eight have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $25.58.

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.