Grantham Mayo Van Otterloo & Co. LLC Sells 91,342 Shares of Intel Co. (NASDAQ:INTC)

Grantham Mayo Van Otterloo & Co. LLC reduced its position in shares of Intel Co. (NASDAQ:INTC) by 3.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,355,779 shares of the chip maker’s stock after selling 91,342 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC owned 0.05% of Intel worth $47,233,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new position in shares of Intel during the 4th quarter valued at approximately $1,246,569,000. Assenagon Asset Management S.A. boosted its position in shares of Intel by 264.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 19,617,088 shares of the chip maker’s stock worth $393,323,000 after purchasing an additional 14,227,458 shares during the period. Vanguard Group Inc. increased its stake in shares of Intel by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 369,099,204 shares of the chip maker’s stock worth $7,400,439,000 after purchasing an additional 6,143,164 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Intel by 4.6% during the 3rd 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 during the period. Finally, Raymond James Financial Inc. purchased a new position in shares of Intel during the 4th quarter valued at $53,465,000. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Intel Trading Down 11.5 %

INTC opened at $19.85 on Friday. Intel Co. has a one year low of $18.51 and a one year high of $39.46. 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 stock has a market cap of $86.56 billion, a price-to-earnings ratio of -4.53 and a beta of 1.13. The stock’s 50 day moving average price is $22.36 and its 200-day moving average price is $22.20.

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 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, equities analysts forecast that Intel Co. will post -0.11 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on INTC. Truist Financial cut their price target on Intel from $22.00 to $21.00 and set a “hold” rating for the company in a research note on Friday, January 31st. Benchmark reiterated a “hold” rating on shares of Intel in a research report on Friday, January 31st. Mizuho lowered their price target on Intel from $23.00 to $21.00 and set a “neutral” rating on the stock in a report on Friday, January 10th. JPMorgan Chase & Co. dropped their price target on Intel from $26.00 to $23.00 and set an “underweight” rating for the company in a research note on Friday, January 31st. Finally, Wells Fargo & Company reduced their price objective on shares of Intel from $28.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Friday, January 31st. Four equities research 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. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $25.58.

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.