Intel Co. (NASDAQ:INTC) Shares Bought by Parallel Advisors LLC

Parallel Advisors LLC grew its holdings in shares of Intel Co. (NASDAQ:INTC) by 6.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 82,253 shares of the chip maker’s stock after buying an additional 5,166 shares during the period. Parallel Advisors LLC’s holdings in Intel were worth $1,649,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. State Street Corp boosted its position in Intel by 2.8% during 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. Geode Capital Management LLC raised its stake in shares of Intel by 4.6% during the third quarter. Geode Capital Management LLC now owns 92,510,098 shares of the chip maker’s stock valued at $2,162,891,000 after purchasing an additional 4,103,553 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings 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 worth $1,371,692,000 after purchasing an additional 12,865,308 shares during the period. Charles Schwab Investment Management Inc. grew its position in Intel by 7.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 33,938,760 shares of the chip maker’s stock valued at $680,472,000 after buying an additional 2,248,342 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Intel by 0.3% during the 4th quarter. Bank of New York Mellon Corp now owns 30,616,197 shares of the chip maker’s stock worth $613,855,000 after buying an additional 86,483 shares in the last quarter. 64.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Citigroup decreased their price objective on shares of Intel from $22.00 to $21.00 and set a “neutral” rating for the company in a report on Tuesday, January 21st. HSBC raised Intel from a “reduce” rating to a “hold” rating in a research note on Tuesday, January 21st. Needham & Company LLC reissued a “hold” rating on shares of Intel in a research note on Friday, January 31st. Truist Financial lowered their target price on Intel from $22.00 to $21.00 and set a “hold” rating on the stock in a report on Friday, January 31st. Finally, Stifel Nicolaus cut their price target on shares of Intel from $25.00 to $21.00 and set a “hold” rating for the company in a report on Friday, January 31st. Four investment analysts have rated the stock with a sell rating, twenty-eight have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $27.04.

Intel Stock Performance

Shares of INTC opened at $25.92 on Wednesday. The company has a market capitalization of $112.23 billion, a PE ratio of -5.92 and a beta of 1.02. 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 company’s 50 day moving average price is $21.68 and its 200 day moving average price is $21.93. Intel Co. has a 52 week low of $18.51 and a 52 week high of $45.41.

Intel (NASDAQ:INTC) last posted its quarterly earnings results on Thursday, January 30th. The chip maker reported ($0.02) 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%. Research analysts expect that Intel Co. will post -0.11 EPS for the current fiscal 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.