Intel Co. (NASDAQ:INTC) Stock Position Cut by Cannell & Spears LLC

Cannell & Spears LLC lessened its stake in Intel Co. (NASDAQ:INTC - Free Report) by 8.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 340,568 shares of the chip maker's stock after selling 32,468 shares during the period. Cannell & Spears LLC's holdings in Intel were worth $6,828,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Intel during the fourth quarter worth about $1,246,569,000. Assenagon Asset Management S.A. increased its position in Intel by 264.0% during the 4th 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. Jacobs Levy Equity Management Inc. raised its stake in shares of Intel by 224.8% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 10,413,544 shares of the chip maker's stock worth $244,302,000 after buying an additional 7,207,785 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Intel by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 369,099,204 shares of the chip maker's stock valued at $7,400,439,000 after buying an additional 6,143,164 shares during the period. Finally, State Street Corp boosted its stake in shares of Intel by 2.8% in 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 in the last quarter. 64.53% of the stock is owned by hedge funds and other institutional investors.

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Intel Stock Performance

INTC traded down $0.88 during trading hours on Thursday, hitting $21.10. 63,784,217 shares of the stock were exchanged, compared to its average volume of 97,971,086. 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 12 month low of $18.51 and a 12 month high of $40.78. The stock has a 50-day simple moving average of $22.36 and a 200-day simple moving average of $22.20. The stock has a market cap of $92.01 billion, a price-to-earnings ratio of -4.82 and a beta of 1.13.

Intel (NASDAQ:INTC - Get Free Report) last released its quarterly earnings data 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%. Analysts anticipate that Intel Co. will post -0.11 earnings per share for the current year.

Analyst Ratings Changes

INTC has been the topic of a number of recent analyst reports. Truist Financial lowered their price target 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. Cantor Fitzgerald upped their target price on Intel from $22.00 to $29.00 and gave the company 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. reduced their target price on Intel from $26.00 to $23.00 and set an "underweight" rating on the stock in a research note on Friday, January 31st. Finally, Needham & Company LLC reissued a "hold" rating on shares of Intel in a research report on Friday, January 31st. Four research analysts have rated the stock with a sell rating, twenty-eight have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target 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.