Davis Selected Advisers Sells 10,056,313 Shares of Intel Co. (NASDAQ:INTC)

Davis Selected Advisers trimmed its position in Intel Co. (NASDAQ:INTC - Free Report) by 79.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,567,616 shares of the chip maker's stock after selling 10,056,313 shares during the quarter. Davis Selected Advisers owned 0.06% of Intel worth $51,481,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Quest Partners LLC grew its position in Intel by 7,370.6% in the third quarter. Quest Partners LLC now owns 1,270 shares of the chip maker's stock valued at $30,000 after acquiring an additional 1,253 shares during the period. Finley Financial LLC bought a new stake in Intel in the fourth quarter valued at $25,000. Synergy Investment Management LLC bought a new stake in Intel in the fourth quarter valued at $27,000. BankPlus Trust Department bought a new stake in Intel in the fourth quarter valued at $28,000. Finally, Keystone Financial Group Inc. bought a new stake in Intel in the fourth quarter valued at $29,000. 64.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Barclays lowered their price target on Intel from $25.00 to $23.00 and set an "equal weight" rating on the stock in a research report on Friday, January 17th. Wells Fargo & Company decreased their target price on Intel from $28.00 to $25.00 and set an "equal weight" rating on the stock 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. Needham & Company LLC restated a "hold" rating on shares of Intel in a report on Friday, January 31st. Finally, JPMorgan Chase & Co. decreased their target price on Intel from $26.00 to $23.00 and set an "underweight" rating on the stock in a report on Friday, January 31st. Five investment analysts have rated the stock with a sell rating, twenty-seven have given a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, Intel presently has an average rating of "Hold" and an average target price of $26.88.

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Intel Trading Down 0.5 %

NASDAQ:INTC traded down $0.11 during mid-day trading on Friday, hitting $20.64. The company had a trading volume of 80,961,008 shares, compared to its average volume of 99,575,508. Intel Co. has a fifty-two week low of $18.51 and a fifty-two week high of $46.63. The business's fifty day moving average is $21.30 and its two-hundred day moving average is $21.81. 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 market cap of $89.37 billion, a P/E ratio of -4.71 and a beta of 1.02.

Intel (NASDAQ:INTC - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The chip maker reported ($0.02) 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%. As a group, research analysts expect 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.