Envestnet Portfolio Solutions Inc. Sells 21,944 Shares of Intel Co. (NASDAQ:INTC)

Envestnet Portfolio Solutions Inc. decreased its holdings in shares of Intel Co. (NASDAQ:INTC - Free Report) by 27.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,456 shares of the chip maker's stock after selling 21,944 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Intel were worth $1,152,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. Assenagon Asset Management S.A. increased its position in shares of Intel by 264.0% during 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 acquiring an additional 14,227,458 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Intel by 28.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 58,469,412 shares of the chip maker's stock worth $1,371,692,000 after purchasing an additional 12,865,308 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in shares of Intel by 224.8% in the third quarter. Jacobs Levy Equity Management Inc. now owns 10,413,544 shares of the chip maker's stock valued at $244,302,000 after purchasing an additional 7,207,785 shares in the last quarter. State Street Corp boosted its position in shares of Intel by 2.8% during the third quarter. State Street Corp now owns 197,958,739 shares of the chip maker's stock valued at $4,644,112,000 after buying an additional 5,417,753 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in Intel by 4.6% during the third quarter. Geode Capital Management LLC now owns 92,510,098 shares of the chip maker's stock worth $2,162,891,000 after buying an additional 4,103,553 shares in the last quarter. Institutional investors and hedge funds own 64.53% of the company's stock.

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Intel Stock Down 0.4 %

Intel stock traded down $0.11 during trading hours on Monday, hitting $24.16. The stock had a trading volume of 42,238,853 shares, compared to its average volume of 71,988,394. The stock's 50-day moving average price is $21.95 and its 200-day moving average price is $22.01. Intel Co. has a 12-month low of $18.51 and a 12-month high of $45.41. The company has a quick ratio of 0.98, a current ratio of 1.33 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $104.59 billion, a P/E ratio of -5.52 and a beta of 1.02.

Intel (NASDAQ:INTC - Get Free Report) last announced its quarterly earnings results 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 net margin of 35.32% and a negative return on equity of 3.27%. Equities research analysts anticipate that Intel Co. will post -0.11 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on INTC. Cantor Fitzgerald lifted their price objective on shares of Intel from $22.00 to $29.00 and gave the stock a "neutral" rating in a report on Tuesday, February 18th. Hsbc Global Res upgraded shares of Intel from a "moderate sell" rating to a "hold" rating in a research report on Tuesday, January 21st. JPMorgan Chase & Co. lowered their price target on Intel from $26.00 to $23.00 and set an "underweight" rating on the stock in a report on Friday, January 31st. Truist Financial lowered their target price on shares of Intel from $22.00 to $21.00 and set a "hold" rating on the stock in a research note on Friday, January 31st. Finally, HSBC raised shares of Intel from a "reduce" rating to a "hold" rating in a research note on Tuesday, January 21st. Four research analysts have rated the stock with a sell rating, twenty-eight have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $27.04.

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.