Scotia Capital Inc. Sells 8,704 Shares of Intel Co. (NASDAQ:INTC)

Scotia Capital Inc. reduced its stake in Intel Co. (NASDAQ:INTC) by 5.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 146,796 shares of the chip maker’s stock after selling 8,704 shares during the quarter. Scotia Capital Inc.’s holdings in Intel were worth $2,943,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Finley Financial LLC bought a new stake in shares of Intel in the fourth quarter valued at about $25,000. Synergy Investment Management LLC acquired a new stake in Intel in the 4th quarter valued at approximately $27,000. BankPlus Trust Department bought a new stake in Intel in the 4th quarter valued at approximately $28,000. Keystone Financial Group Inc. acquired a new position in Intel during the 4th quarter worth approximately $29,000. Finally, West Financial Advisors LLC bought a new position in shares of Intel during the 4th quarter worth approximately $31,000. 64.53% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on INTC shares. Hsbc Global Res raised shares of Intel from a “moderate sell” rating to a “hold” rating in a research report on Tuesday, January 21st. JPMorgan Chase & Co. cut their price target on shares of Intel from $26.00 to $23.00 and set an “underweight” rating on the stock in a research report on Friday, January 31st. Stifel Nicolaus decreased their price objective on Intel from $25.00 to $21.00 and set a “hold” rating for the company in a report on Friday, January 31st. HSBC upgraded Intel from a “reduce” rating to a “hold” rating in a report on Tuesday, January 21st. Finally, Benchmark restated a “hold” rating on shares of Intel in a research note on Friday, January 31st. Four investment 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. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $25.58.

Intel Stock Performance

INTC opened at $19.74 on Friday. The firm has a market cap of $86.08 billion, a P/E ratio of -4.51 and a beta of 1.13. The business’s fifty day moving average is $22.37 and its 200-day moving average is $22.09. Intel Co. has a 52-week low of $17.67 and a 52-week high of $37.16. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.98 and a current ratio of 1.33.

Intel (NASDAQ:INTC) last announced its quarterly earnings data 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 return on equity of 3.27% and a negative net margin of 35.32%. Sell-side analysts expect that Intel Co. will post -0.11 EPS 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.