ING Groep NV Trims Stake in Intel Co. (NASDAQ:INTC)

ING Groep NV cut its holdings in shares of Intel Co. (NASDAQ:INTC - Free Report) by 43.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 840,672 shares of the chip maker's stock after selling 635,379 shares during the period. ING Groep NV's holdings in Intel were worth $16,855,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Assenagon Asset Management S.A. grew 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 worth $393,323,000 after purchasing an additional 14,227,458 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Intel by 28.2% in the third 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 during the period. Van ECK Associates Corp grew its stake in Intel by 27.2% in the third quarter. Van ECK Associates Corp now owns 44,013,936 shares of the chip maker's stock worth $967,426,000 after purchasing an additional 9,422,136 shares during the period. Jacobs Levy Equity Management Inc. grew its stake in 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 worth $244,302,000 after purchasing an additional 7,207,785 shares during the period. Finally, State Street Corp boosted its holdings in Intel by 2.8% in the third quarter. State Street Corp now owns 197,958,739 shares of the chip maker's stock worth $4,644,112,000 after acquiring an additional 5,417,753 shares in the last quarter. 64.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Wells Fargo & Company dropped 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. Needham & Company LLC reissued a "hold" rating on shares of Intel in a report on Friday, January 31st. Roth Mkm dropped their target price on Intel from $25.00 to $20.00 and set a "neutral" rating on the stock in a report on Friday, January 31st. Mizuho dropped their target price on Intel from $23.00 to $21.00 and set a "neutral" rating on the stock in a report on Friday, January 10th. Finally, UBS Group lowered their price target on Intel from $26.00 to $23.00 and set a "neutral" rating on the stock in a report on Tuesday, January 21st. Five equities research analysts have rated the stock with a sell rating, twenty-seven have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $26.88.

Intel Price Performance

Shares of NASDAQ:INTC traded down $1.23 during trading on Friday, hitting $24.87. 111,281,705 shares of the company's stock were exchanged, compared to its average volume of 98,030,531. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.33 and a quick ratio of 0.98. Intel Co. has a 52-week low of $18.51 and a 52-week high of $46.63. The business's 50-day simple moving average is $20.75 and its 200 day simple moving average is $21.62. The company has a market cap of $107.67 billion, a price-to-earnings ratio of -5.68 and a beta of 1.08.

Intel (NASDAQ:INTC - Get Free Report) last announced 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 net margin of 35.32% and a negative return on equity of 3.27%. As a group, equities analysts predict that Intel Co. will post -0.11 EPS 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.