OVERSEA CHINESE BANKING Corp Ltd Trims Holdings in Intel Co. (NASDAQ:INTC)

OVERSEA CHINESE BANKING Corp Ltd reduced its stake in shares of Intel Co. (NASDAQ:INTC) by 41.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 562,910 shares of the chip maker’s stock after selling 391,383 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Intel were worth $11,427,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Xponance Inc. boosted its position in Intel by 5.2% in the 4th quarter. Xponance Inc. now owns 662,665 shares of the chip maker’s stock valued at $13,286,000 after buying an additional 32,491 shares during the period. Intech Investment Management LLC boosted its holdings in shares of Intel by 18.5% in the fourth quarter. Intech Investment Management LLC now owns 219,293 shares of the chip maker’s stock valued at $4,397,000 after purchasing an additional 34,244 shares during the period. Generali Asset Management SPA SGR bought a new position in Intel in the fourth quarter worth approximately $5,098,000. Horizon Investments LLC increased its holdings in Intel by 74.2% during the 4th quarter. Horizon Investments LLC now owns 165,976 shares of the chip maker’s stock worth $3,328,000 after purchasing an additional 70,710 shares during the period. Finally, Thrivent Financial for Lutherans raised its position in Intel by 0.3% during the 4th quarter. Thrivent Financial for Lutherans now owns 213,378 shares of the chip maker’s stock valued at $4,356,000 after purchasing an additional 743 shares in the last quarter. 64.53% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on INTC. Wells Fargo & Company cut their price target on Intel from $28.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Friday, January 31st. Citigroup reduced their price target 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. Cantor Fitzgerald increased their price objective on shares of Intel from $22.00 to $29.00 and gave the company a “neutral” rating in a research note on Tuesday, February 18th. Benchmark reissued a “hold” rating on shares of Intel in a research note on Friday, January 31st. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Intel in a research report on Friday, January 31st. Four research analysts have rated the stock with a sell rating, twenty-eight have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $27.04.

Intel Stock Performance

INTC opened at $25.92 on Wednesday. The company has a current ratio of 1.33, a quick ratio of 0.98 and a debt-to-equity ratio of 0.44. Intel Co. has a 12-month low of $18.51 and a 12-month high of $45.41. The firm has a 50 day moving average of $21.68 and a two-hundred day moving average of $21.93. The firm has a market capitalization of $112.23 billion, a PE ratio of -5.92 and a beta of 1.02.

Intel (NASDAQ:INTC) last posted its earnings results on Thursday, January 30th. The chip maker reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.14). Intel had a negative net margin of 35.32% and a negative return on equity of 3.27%. On average, analysts anticipate that Intel Co. will post -0.11 EPS for the current year.

About Intel

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.