Sound View Wealth Advisors Group LLC Sells 15,530 Shares of Intel Co. (NASDAQ:INTC)

Sound View Wealth Advisors Group LLC lowered its stake in shares of Intel Co. (NASDAQ:INTC) by 27.7% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 40,621 shares of the chip maker’s stock after selling 15,530 shares during the quarter. Sound View Wealth Advisors Group LLC’s holdings in Intel were worth $814,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of INTC. Assenagon Asset Management S.A. raised its holdings in shares of 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 acquiring an additional 14,227,458 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Intel by 28.2% in 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 worth $1,371,692,000 after purchasing an additional 12,865,308 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its stake in Intel by 224.8% during the third quarter. Jacobs Levy Equity Management Inc. now owns 10,413,544 shares of the chip maker’s stock valued at $244,302,000 after purchasing an additional 7,207,785 shares in the last quarter. State Street Corp lifted its position 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 purchasing an additional 5,417,753 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Intel by 4.6% in the 3rd quarter. Geode Capital Management LLC now owns 92,510,098 shares of the chip maker’s stock worth $2,162,891,000 after buying an additional 4,103,553 shares in the last quarter. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on INTC shares. Rosenblatt Securities restated a “sell” rating and set a $20.00 target price on shares of Intel in a research report on Thursday, January 30th. Bank of America reissued an “underperform” rating and set a $21.00 target price on shares of Intel in a research report on Tuesday, December 3rd. Benchmark restated a “hold” rating on shares of Intel in a research report on Friday, January 31st. Truist Financial dropped their price target on shares of Intel from $22.00 to $21.00 and set a “hold” rating for the company in a research note on Friday, January 31st. Finally, Hsbc Global Res raised Intel from a “moderate sell” rating to a “hold” rating in a research report on Tuesday, January 21st. Five equities research 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. According to data from MarketBeat.com, Intel presently has an average rating of “Hold” and an average target price of $26.88.

Intel Trading Down 0.5 %

NASDAQ:INTC opened at $20.64 on Monday. The stock has a market capitalization of $89.37 billion, a price-to-earnings ratio of -4.71 and a beta of 1.02. Intel Co. has a 52 week low of $18.51 and a 52 week high of $46.63. 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 has a 50 day moving average of $21.30 and a 200 day moving average of $21.81.

Intel (NASDAQ:INTC) last issued its quarterly earnings data 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 net margin of 35.32% and a negative return on equity of 3.27%. As a group, sell-side analysts anticipate that Intel Co. will post -0.11 earnings per share 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.