Synovus Financial Corp Has $2.99 Million Stock Holdings in Intel Co. (NASDAQ:INTC)

Synovus Financial Corp reduced its stake in Intel Co. (NASDAQ:INTC) by 32.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 149,254 shares of the chip maker’s stock after selling 70,312 shares during the period. Synovus Financial Corp’s holdings in Intel were worth $2,993,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in INTC. Morse Asset Management Inc bought a new stake in Intel during the third quarter valued at $354,000. Advisory Resource Group lifted its stake in shares of Intel by 6.7% in the 3rd quarter. Advisory Resource Group now owns 16,579 shares of the chip maker’s stock valued at $389,000 after purchasing an additional 1,034 shares during the period. SOA Wealth Advisors LLC. boosted its position in shares of Intel by 7.3% during the 3rd quarter. SOA Wealth Advisors LLC. now owns 9,076 shares of the chip maker’s stock valued at $213,000 after purchasing an additional 615 shares in the last quarter. World Investment Advisors LLC grew its stake in Intel by 59.6% during the third quarter. World Investment Advisors LLC now owns 42,990 shares of the chip maker’s stock worth $1,009,000 after purchasing an additional 16,046 shares during the period. Finally, Denver PWM LLC increased its holdings in Intel by 752.1% in the third quarter. Denver PWM LLC now owns 26,425 shares of the chip maker’s stock worth $620,000 after purchasing an additional 23,324 shares in the last quarter. 64.53% of the stock is currently owned by institutional investors.

Intel Price Performance

INTC opened at $20.31 on Tuesday. Intel Co. has a fifty-two week low of $17.67 and a fifty-two week high of $37.16. The firm has a 50-day moving average of $22.38 and a 200 day moving average of $22.05. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.98 and a current ratio of 1.33. The firm has a market cap of $88.56 billion, a P/E ratio of -4.64 and a beta of 1.13.

Intel (NASDAQ:INTC) last issued its quarterly earnings results on Thursday, January 30th. The chip maker reported ($0.02) earnings per share (EPS) 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%. On average, research analysts expect that Intel Co. will post -0.11 EPS for the current year.

Analyst Ratings Changes

Several brokerages have recently commented on INTC. JPMorgan Chase & Co. reduced their price objective on shares of Intel from $26.00 to $23.00 and set an “underweight” rating for the company in a research report on Friday, January 31st. Cantor Fitzgerald raised their price target on shares of Intel from $22.00 to $29.00 and gave the stock a “neutral” rating in a report on Tuesday, February 18th. Barclays dropped their price objective on shares of Intel from $25.00 to $23.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. Roth Mkm reduced their target price on Intel from $25.00 to $20.00 and set a “neutral” rating for the company in a research note on Friday, January 31st. Finally, UBS Group dropped their price target on Intel from $23.00 to $22.00 and set a “neutral” rating on the stock in a research note on Monday. Four research analysts have rated the stock with a sell rating, twenty-eight have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Intel has an average rating of “Hold” and an average price target of $25.54.

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.