Principal Financial Group Inc. Purchases 20,570 Shares of Intel Co. (NASDAQ:INTC)

Principal Financial Group Inc. boosted its position in shares of Intel Co. (NASDAQ:INTC) by 0.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,847,693 shares of the chip maker’s stock after purchasing an additional 20,570 shares during the quarter. Principal Financial Group Inc. owned about 0.11% of Intel worth $97,196,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in INTC. Vest Financial LLC bought a new stake in Intel during the 3rd quarter worth about $410,000. Integrity Financial Corp WA bought a new stake in Intel during the 3rd quarter worth about $257,000. Foundations Investment Advisors LLC raised its holdings in Intel by 5.4% during the 3rd quarter. Foundations Investment Advisors LLC now owns 31,071 shares of the chip maker’s stock worth $729,000 after purchasing an additional 1,589 shares during the last quarter. Calton & Associates Inc. raised its holdings in Intel by 14.8% during the 3rd quarter. Calton & Associates Inc. now owns 8,702 shares of the chip maker’s stock worth $204,000 after purchasing an additional 1,125 shares during the last quarter. Finally, Fortis Group Advisors LLC increased its stake in shares of Intel by 1,052.9% in the 3rd quarter. Fortis Group Advisors LLC now owns 172,996 shares of the chip maker’s stock valued at $4,058,000 after acquiring an additional 157,991 shares during the last quarter. 64.53% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on INTC. Citigroup lowered their price target on Intel from $22.00 to $21.00 and set a “neutral” rating for the company in a research note on Tuesday, January 21st. Mizuho lowered their price target on Intel from $23.00 to $21.00 and set a “neutral” rating for the company in a research note on Friday, January 10th. JPMorgan Chase & Co. lowered their price target on Intel from $26.00 to $23.00 and set an “underweight” rating for the company in a research note on Friday, January 31st. Hsbc Global Res raised Intel from a “moderate sell” rating to a “hold” rating in a research note on Tuesday, January 21st. Finally, Robert W. Baird upped their price target on Intel from $20.00 to $25.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Five research analysts have rated the stock with a sell rating, twenty-seven have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $26.88.

Intel Trading Up 16.1 %

NASDAQ INTC opened at $27.39 on Wednesday. The company has a market cap of $118.60 billion, a PE ratio of -6.25 and a beta of 1.08. The company has a current ratio of 1.33, a quick ratio of 0.98 and a debt-to-equity ratio of 0.44. Intel Co. has a 12 month low of $18.51 and a 12 month high of $46.63. The stock has a 50 day moving average of $20.38 and a 200-day moving average of $21.52.

Intel (NASDAQ:INTC) last released 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%. On average, equities research analysts anticipate that Intel Co. will post -0.11 EPS 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.