State of Michigan Retirement System lowered its holdings in shares of Intel Co. (NASDAQ:INTC - Free Report) by 32.3% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,556,383 shares of the chip maker's stock after selling 742,800 shares during the period. State of Michigan Retirement System's holdings in Intel were worth $31,205,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of the business. State Street Corp raised its position in Intel by 2.8% during the 3rd quarter. State Street Corp now owns 197,958,739 shares of the chip maker's stock worth $4,644,112,000 after purchasing an additional 5,417,753 shares during the last quarter. Geode Capital Management LLC raised its position in shares of 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 acquiring an additional 4,103,553 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of 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 acquiring an additional 12,865,308 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Intel by 7.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 31,690,418 shares of the chip maker's stock valued at $743,457,000 after acquiring an additional 2,248,332 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in Intel by 0.3% during the 4th quarter. Bank of New York Mellon Corp now owns 30,616,197 shares of the chip maker's stock valued at $613,855,000 after purchasing an additional 86,483 shares during the period. Institutional investors and hedge funds own 64.53% of the company's stock.
Intel Stock Down 0.5 %
NASDAQ:INTC traded down $0.11 during trading hours on Friday, hitting $20.64. 80,961,008 shares of the company traded hands, compared to its average volume of 99,575,508. The firm's 50-day simple moving average is $21.29 and its 200-day simple moving average is $21.81. The company has a market cap of $89.37 billion, a PE ratio of -4.71 and a beta of 1.02. The company has a quick ratio of 0.98, a current ratio of 1.33 and a debt-to-equity ratio of 0.44. Intel Co. has a one year low of $18.51 and a one year high of $46.63.
Intel (NASDAQ:INTC - Get Free Report) last issued 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%. Equities analysts predict that Intel Co. will post -0.11 earnings per share for the current year.
Wall Street Analyst Weigh In
INTC has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. dropped their price target on shares of Intel from $26.00 to $23.00 and set an "underweight" rating on the stock in a research report on Friday, January 31st. Truist Financial dropped their target price on shares of Intel from $22.00 to $21.00 and set a "hold" rating on the stock in a report on Friday, January 31st. Hsbc Global Res upgraded Intel from a "moderate sell" rating to a "hold" rating in a report on Tuesday, January 21st. Benchmark reissued a "hold" rating on shares of Intel in a research report on Friday, January 31st. Finally, Cantor Fitzgerald upped their target price on Intel from $22.00 to $29.00 and gave the company a "neutral" rating in a research report on Tuesday, February 18th. Five investment analysts have rated the stock with a sell rating, twenty-seven have issued a hold rating and one has given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $26.88.
Check Out Our Latest Analysis on Intel
Intel Profile
(
Free Report)
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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