Parnassus Investments LLC Cuts Stock Holdings in Intel Co. (NASDAQ:INTC)

Parnassus Investments LLC lessened its stake in Intel Co. (NASDAQ:INTC) by 16.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,207,479 shares of the chip maker’s stock after selling 434,604 shares during the period. Parnassus Investments LLC owned approximately 0.05% of Intel worth $44,260,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Quest Partners LLC grew its position in Intel by 7,370.6% in the third quarter. Quest Partners LLC now owns 1,270 shares of the chip maker’s stock worth $30,000 after acquiring an additional 1,253 shares in the last quarter. Finley Financial LLC purchased a new position in shares of Intel in the 4th quarter worth about $25,000. Synergy Investment Management LLC purchased a new position in shares of Intel in the 4th quarter worth about $27,000. BankPlus Trust Department purchased a new position in shares of Intel in the 4th quarter worth about $28,000. Finally, Keystone Financial Group Inc. purchased a new stake in Intel in the fourth quarter worth approximately $29,000. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on INTC shares. Hsbc Global Res raised Intel from a “moderate sell” rating to a “hold” rating in a research note on Tuesday, January 21st. Roth Mkm cut their price objective on shares of Intel from $25.00 to $20.00 and set a “neutral” rating for the company in a research note on Friday, January 31st. HSBC upgraded shares of Intel from a “reduce” rating to a “hold” rating in a research report on Tuesday, January 21st. Citigroup cut their price target on shares of Intel from $22.00 to $21.00 and set a “neutral” rating for the company in a research report on Tuesday, January 21st. Finally, Truist Financial dropped their target price on Intel from $22.00 to $21.00 and set a “hold” rating for the company in a report on Friday, January 31st. Four equities research analysts have rated the stock with a sell rating, twenty-eight have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Intel currently has an average rating of “Hold” and an average price target of $27.04.

Intel Trading Up 14.6 %

INTC opened at $23.70 on Friday. The stock has a market cap of $102.62 billion, a PE ratio of -5.41 and a beta of 1.02. 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 business has a 50 day moving average of $21.38 and a 200-day moving average of $21.81. Intel Co. has a 52 week low of $18.51 and a 52 week high of $45.41.

Intel (NASDAQ:INTC) last released its earnings results on Thursday, January 30th. The chip maker reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates 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 predict that Intel Co. will post -0.11 earnings per share for the current fiscal year.

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.