Intel Co. (NASDAQ:INTC) Shares Sold by Amalgamated Bank

Amalgamated Bank trimmed its position in shares of Intel Co. (NASDAQ:INTC) by 2.0% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 821,085 shares of the chip maker’s stock after selling 16,583 shares during the period. Amalgamated Bank’s holdings in Intel were worth $16,463,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in INTC. Assenagon Asset Management S.A. boosted its position 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 during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised 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 valued at $1,371,692,000 after purchasing an additional 12,865,308 shares during the period. Van ECK Associates Corp lifted its stake in shares of Intel by 27.2% during the third quarter. Van ECK Associates Corp now owns 44,013,936 shares of the chip maker’s stock worth $967,426,000 after purchasing an additional 9,422,136 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its position in shares of Intel by 224.8% in the third quarter. Jacobs Levy Equity Management Inc. now owns 10,413,544 shares of the chip maker’s stock worth $244,302,000 after buying an additional 7,207,785 shares during the period. Finally, State Street Corp boosted its holdings in Intel by 2.8% in the 3rd quarter. State Street Corp now owns 197,958,739 shares of the chip maker’s stock worth $4,644,112,000 after acquiring an additional 5,417,753 shares during the period. 64.53% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Roth Mkm dropped their price objective on shares of Intel from $25.00 to $20.00 and set a “neutral” rating on the stock in a research note on Friday, January 31st. HSBC raised shares of Intel from a “reduce” rating to a “hold” rating in a research note on Tuesday, January 21st. Bank of America reissued an “underperform” rating and issued a $21.00 price objective on shares of Intel in a research report on Tuesday, December 3rd. Truist Financial dropped their target price on Intel from $22.00 to $21.00 and set a “hold” rating on the stock in a research report on Friday, January 31st. Finally, JPMorgan Chase & Co. reduced their price target on Intel from $26.00 to $23.00 and set an “underweight” rating for the company in a report on Friday, January 31st. 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. According to MarketBeat, Intel presently has an average rating of “Hold” and a consensus price target of $26.88.

Intel Stock Down 5.3 %

Shares of Intel stock opened at $22.99 on Wednesday. The stock has a market capitalization of $99.55 billion, a price-to-earnings ratio of -5.25 and a beta of 1.08. Intel Co. has a twelve month low of $18.51 and a twelve month high of $46.63. The company has a current ratio of 1.33, a quick ratio of 0.98 and a debt-to-equity ratio of 0.44. The business’s 50 day simple moving average is $20.96 and its 200-day simple moving average is $21.73.

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