Davis Selected Advisers Sells 10,056,313 Shares of Intel Co. (NASDAQ:INTC)

Davis Selected Advisers reduced its holdings in Intel Co. (NASDAQ:INTC) by 79.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,567,616 shares of the chip maker’s stock after selling 10,056,313 shares during the quarter. Davis Selected Advisers’ holdings in Intel were worth $51,481,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Finley Financial LLC bought a new stake in shares of Intel in the fourth quarter worth about $25,000. Synergy Investment Management LLC acquired a new position in shares of Intel during the fourth quarter worth about $27,000. BankPlus Trust Department acquired a new position in shares of Intel during the fourth quarter worth about $28,000. Keystone Financial Group Inc. acquired a new position in shares of Intel during the fourth quarter worth about $29,000. Finally, Quest Partners LLC boosted its position in shares of Intel by 7,370.6% during the third quarter. Quest Partners LLC now owns 1,270 shares of the chip maker’s stock worth $30,000 after buying an additional 1,253 shares during the period. 64.53% of the stock is currently owned by institutional investors.

Intel Trading Down 0.5 %

Shares of INTC stock opened at $20.64 on Friday. The stock’s fifty day moving average price is $21.30 and its two-hundred day moving average price is $21.80. The company has a market cap of $89.37 billion, a PE ratio of -4.71 and a beta of 1.02. Intel Co. has a fifty-two week low of $18.51 and a fifty-two week high of $46.63. 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 released its quarterly earnings data 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 net margin of 35.32% and a negative return on equity of 3.27%. Equities analysts predict that Intel Co. will post -0.11 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently weighed in on INTC. Stifel Nicolaus reduced their price objective on Intel from $25.00 to $21.00 and set a “hold” rating for the company in a research report on Friday, January 31st. Truist Financial cut their price objective on Intel from $22.00 to $21.00 and set a “hold” rating for the company in a research report on Friday, January 31st. Roth Mkm cut their price objective on Intel from $25.00 to $20.00 and set a “neutral” rating for the company in a research report on Friday, January 31st. Barclays cut their price objective on Intel from $25.00 to $23.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. Finally, JPMorgan Chase & Co. lowered their target price on Intel from $26.00 to $23.00 and set an “underweight” rating on the stock in a research note on Friday, January 31st. Five 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 MarketBeat, Intel has a consensus rating of “Hold” and a consensus target price of $26.88.

Intel 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.