Corebridge Financial Inc. Sells 35,523 Shares of Intel Co. (NASDAQ:INTC)

Corebridge Financial Inc. decreased its position in Intel Co. (NASDAQ:INTC - Free Report) by 2.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,341,417 shares of the chip maker's stock after selling 35,523 shares during the period. Corebridge Financial Inc.'s holdings in Intel were worth $26,895,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Quest Partners LLC grew its position in Intel by 7,370.6% during the third quarter. Quest Partners LLC now owns 1,270 shares of the chip maker's stock valued at $30,000 after buying an additional 1,253 shares during the period. Finley Financial LLC bought a new position in shares of Intel during the 4th quarter valued at approximately $25,000. Synergy Investment Management LLC purchased a new stake in shares of Intel during the 4th quarter worth approximately $27,000. BankPlus Trust Department bought a new stake in shares of Intel in the 4th quarter worth approximately $28,000. Finally, Keystone Financial Group Inc. bought a new stake in shares of Intel in the 4th quarter worth approximately $29,000. Institutional investors own 64.53% of the company's stock.

Intel Price Performance

Shares of INTC stock traded up $0.20 during trading hours on Thursday, hitting $23.62. 57,529,598 shares of the company's stock were exchanged, compared to its average volume of 72,195,507. Intel Co. has a 12-month low of $18.51 and a 12-month high of $45.41. The company has a market capitalization of $102.27 billion, a PE ratio of -5.39 and a beta of 1.02. The business's 50 day simple moving average is $22.30 and its 200-day simple moving average is $22.10. The company has a current ratio of 1.33, a quick ratio of 0.98 and a debt-to-equity ratio of 0.44.

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Intel (NASDAQ:INTC - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The chip maker reported ($0.02) earnings per share (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%. On average, equities research analysts anticipate that Intel Co. will post -0.11 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have issued reports on INTC shares. Citigroup decreased their target price on Intel from $22.00 to $21.00 and set a "neutral" rating for the company in a research report on Tuesday, January 21st. JPMorgan Chase & Co. decreased their price objective on Intel from $26.00 to $23.00 and set an "underweight" rating for the company in a report on Friday, January 31st. Roth Mkm dropped their price objective on shares of Intel from $25.00 to $20.00 and set a "neutral" rating on the stock 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 note on Friday, January 10th. Finally, UBS Group dropped their price target on shares of Intel from $26.00 to $23.00 and set a "neutral" rating on the stock in a research note on Tuesday, January 21st. Four investment analysts have rated the stock with a sell rating, twenty-eight have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Intel has a consensus rating of "Hold" and an average target price of $27.04.

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.