Handelsbanken Fonder AB Grows Position in Intel Co. (NASDAQ:INTC)

Handelsbanken Fonder AB grew its stake in Intel Co. (NASDAQ:INTC - Free Report) by 31.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,076,437 shares of the chip maker's stock after purchasing an additional 502,543 shares during the period. Handelsbanken Fonder AB's holdings in Intel were worth $41,633,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Foundations Investment Advisors LLC raised its holdings in shares of Intel by 5.4% during the 3rd quarter. Foundations Investment Advisors LLC now owns 31,071 shares of the chip maker's stock worth $729,000 after acquiring an additional 1,589 shares during the period. International Assets Investment Management LLC increased its position in Intel by 3,505.0% during the third quarter. International Assets Investment Management LLC now owns 2,923,684 shares of the chip maker's stock worth $68,590,000 after purchasing an additional 2,842,584 shares during the last quarter. Franklin Parlapiano Turner & Welch LLC increased its position in Intel by 6.5% during the third quarter. Franklin Parlapiano Turner & Welch LLC now owns 213,629 shares of the chip maker's stock worth $5,012,000 after purchasing an additional 12,991 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised its stake in Intel by 32.2% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 10,387 shares of the chip maker's stock worth $244,000 after purchasing an additional 2,531 shares during the period. Finally, Lafayette Investments Inc. boosted its holdings in Intel by 1.2% in the 3rd quarter. Lafayette Investments Inc. now owns 59,114 shares of the chip maker's stock valued at $1,387,000 after purchasing an additional 718 shares during the last quarter. Institutional investors and hedge funds own 64.53% of the company's stock.

Intel Stock Down 4.7 %

NASDAQ INTC traded down $1.23 on Friday, hitting $24.87. 111,281,705 shares of the stock were exchanged, compared to its average volume of 98,030,531. Intel Co. has a fifty-two week low of $18.51 and a fifty-two week high of $46.63. The company has a 50-day moving average price of $20.75 and a 200-day moving average price of $21.62. The company has a market cap of $107.67 billion, a PE ratio of -5.68 and a beta of 1.08. 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 (NASDAQ:INTC - Get Free Report) last issued its 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%. Sell-side analysts anticipate that Intel Co. will post -0.11 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Mizuho cut their price target on shares of Intel from $23.00 to $21.00 and set a "neutral" rating for the company in a report on Friday, January 10th. Barclays reduced their target price 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. Truist Financial lowered their price target on Intel from $22.00 to $21.00 and set a "hold" rating for the company in a report on Friday, January 31st. Northland Securities reduced their price objective on shares of Intel from $42.00 to $28.00 and set an "outperform" rating on the stock in a report on Friday, November 1st. Finally, Stifel Nicolaus decreased their target price on shares of Intel from $25.00 to $21.00 and set a "hold" rating on the stock in a research report on Friday, January 31st. Five 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 company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $26.88.

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.