Allspring Global Investments Holdings LLC Sells 81,386 Shares of Intel Co. (NASDAQ:INTC)

Allspring Global Investments Holdings LLC reduced its holdings in Intel Co. (NASDAQ:INTC - Free Report) by 24.7% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 248,458 shares of the chip maker's stock after selling 81,386 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Intel were worth $5,024,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Kentucky Trust Co purchased a new position in shares of Intel in the 4th quarter worth $482,000. Sage Private Wealth Group LLC lifted its position in Intel by 12.8% during the fourth quarter. Sage Private Wealth Group LLC now owns 17,202 shares of the chip maker's stock valued at $345,000 after purchasing an additional 1,956 shares in the last quarter. Stonebridge Financial Group LLC bought a new stake in shares of Intel in the fourth quarter worth about $99,000. Mill Creek Capital Advisors LLC increased its stake in Intel by 6.5% during the fourth quarter. Mill Creek Capital Advisors LLC now owns 12,666 shares of the chip maker's stock worth $254,000 after acquiring an additional 774 shares during the last quarter. Finally, Bristlecone Advisors LLC increased its stake in Intel by 14.4% during the fourth quarter. Bristlecone Advisors LLC now owns 116,851 shares of the chip maker's stock worth $2,343,000 after acquiring an additional 14,699 shares during the last quarter. 64.53% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on INTC shares. Benchmark reiterated a "hold" rating on shares of Intel in a report on Friday, January 31st. Mizuho reduced their target price on shares of Intel from $23.00 to $21.00 and set a "neutral" rating for the company in a research report on Friday, January 10th. HSBC raised shares of Intel from a "reduce" rating to a "hold" rating in a report on Tuesday, January 21st. Hsbc Global Res raised shares of Intel from a "moderate sell" rating to a "hold" rating in a research note on Tuesday, January 21st. Finally, UBS Group reduced their target price on shares of Intel from $26.00 to $23.00 and set a "neutral" rating on the stock in a report on Tuesday, January 21st. Five research analysts have rated the stock with a sell rating, twenty-seven have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $26.88.

Intel Trading Down 4.6 %

Shares of NASDAQ:INTC traded down $1.21 during midday trading on Friday, reaching $24.88. The company's stock had a trading volume of 68,600,009 shares, compared to its average volume of 96,666,977. The firm has a market capitalization of $107.73 billion, a price-to-earnings ratio of -5.68 and a beta of 1.08. 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 firm has a 50 day moving average price of $20.75 and a two-hundred day moving average price of $21.62. Intel Co. has a fifty-two week low of $18.51 and a fifty-two week high of $46.63.

Intel (NASDAQ:INTC - Get Free Report) last released its quarterly 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%. As a group, analysts forecast that Intel Co. will post -0.11 earnings per share 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.