Intel Co. (NASDAQ:INTC) Shares Sold by Alecta Tjanstepension Omsesidigt

Alecta Tjanstepension Omsesidigt cut its stake in Intel Co. (NASDAQ:INTC) by 8.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,329,600 shares of the chip maker’s stock after selling 500,000 shares during the period. Alecta Tjanstepension Omsesidigt owned 0.12% of Intel worth $106,912,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its holdings 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 acquiring an additional 4,103,553 shares during the period. Relyea Zuckerberg Hanson LLC increased its stake in shares of Intel by 211.6% in the fourth quarter. Relyea Zuckerberg Hanson LLC now owns 28,898 shares of the chip maker’s stock valued at $579,000 after purchasing an additional 19,625 shares during the period. Principal Financial Group Inc. raised its holdings in shares of Intel by 4.4% during the third quarter. Principal Financial Group Inc. now owns 4,827,123 shares of the chip maker’s stock valued at $113,244,000 after buying an additional 204,200 shares during the last quarter. Empirical Asset Management LLC acquired a new position in shares of Intel during the fourth quarter worth approximately $276,000. Finally, Swiss National Bank boosted its position in shares of Intel by 0.3% during the third quarter. Swiss National Bank now owns 12,635,400 shares of the chip maker’s stock worth $296,426,000 after buying an additional 31,800 shares during the period. 64.53% of the stock is currently owned by institutional investors.

Intel Price Performance

NASDAQ INTC opened at $23.52 on Thursday. 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 stock has a market capitalization of $101.84 billion, a PE ratio of -5.37 and a beta of 1.08. Intel Co. has a 12-month low of $18.51 and a 12-month high of $46.63. The company has a 50 day moving average price of $21.04 and a two-hundred day moving average price of $21.74.

Intel (NASDAQ:INTC) last released its quarterly earnings data 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 net margin of 35.32% and a negative return on equity of 3.27%. As a group, equities analysts predict that Intel Co. will post -0.11 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on INTC. JPMorgan Chase & Co. cut 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. Robert W. Baird upped their price objective on shares of Intel from $20.00 to $25.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Needham & Company LLC reiterated a “hold” rating on shares of Intel in a research report on Friday, January 31st. Mizuho dropped their price target on shares of Intel from $23.00 to $21.00 and set a “neutral” rating on the stock in a research report on Friday, January 10th. Finally, Citigroup lowered their price objective on shares of Intel from $22.00 to $21.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 21st. 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 data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $26.88.

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.