First Trust Advisors LP Sells 2,920,809 Shares of Intel Co. (NASDAQ:INTC)

First Trust Advisors LP reduced its stake in Intel Co. (NASDAQ:INTC - Free Report) by 24.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,050,803 shares of the chip maker's stock after selling 2,920,809 shares during the period. First Trust Advisors LP owned 0.21% of Intel worth $181,468,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in INTC. Norges Bank acquired a new position in shares of Intel during the 4th quarter worth about $1,246,569,000. Assenagon Asset Management S.A. increased its stake in Intel by 264.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 19,617,088 shares of the chip maker's stock valued at $393,323,000 after purchasing an additional 14,227,458 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Intel by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 369,099,204 shares of the chip maker's stock worth $7,400,439,000 after purchasing an additional 6,143,164 shares in the last quarter. Renaissance Technologies LLC acquired a new position in shares of Intel in the 4th quarter valued at $93,393,000. Finally, Invesco Ltd. increased its position in shares of Intel by 9.4% in the 4th quarter. Invesco Ltd. now owns 43,088,830 shares of the chip maker's stock valued at $863,931,000 after buying an additional 3,696,377 shares in the last quarter. 64.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

INTC has been the subject of a number of research analyst reports. Cantor Fitzgerald boosted their target price on Intel from $22.00 to $29.00 and gave the company a "neutral" rating in a research note on Tuesday, February 18th. Wells Fargo & Company lowered their target price on Intel from $28.00 to $25.00 and set an "equal weight" rating for the company in a research note on Friday, January 31st. Rosenblatt Securities reaffirmed a "sell" rating and issued a $20.00 price target on shares of Intel in a research note on Thursday, January 30th. Roth Mkm lowered their price objective on shares of Intel from $25.00 to $20.00 and set a "neutral" rating for the company in a research report on Friday, January 31st. Finally, UBS Group reduced their target price on shares of Intel from $23.00 to $22.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Four equities research analysts have rated the stock with a sell rating, twenty-eight have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Intel has an average rating of "Hold" and a consensus target price of $25.38.

Intel Stock Down 1.6 %

INTC opened at $18.93 on Friday. The company has a current ratio of 1.33, a quick ratio of 0.98 and a debt-to-equity ratio of 0.44. The stock's fifty day simple moving average is $22.34 and its 200 day simple moving average is $21.96. Intel Co. has a 1-year low of $17.67 and a 1-year high of $37.16. The stock has a market cap of $82.55 billion, a PE ratio of -4.32 and a beta of 1.13.

Intel (NASDAQ:INTC - Get Free Report) last posted its 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 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.

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.

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