Kornitzer Capital Management Inc. KS Has $5.01 Million Stake in Intel Co. (NASDAQ:INTC)

Kornitzer Capital Management Inc. KS trimmed its holdings in Intel Co. (NASDAQ:INTC - Free Report) by 40.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 249,806 shares of the chip maker's stock after selling 168,473 shares during the period. Kornitzer Capital Management Inc. KS's holdings in Intel were worth $5,009,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. State Street Corp boosted its stake in Intel by 2.8% in the 3rd quarter. State Street Corp now owns 197,958,739 shares of the chip maker's stock worth $4,644,112,000 after buying an additional 5,417,753 shares during the last quarter. Geode Capital Management LLC boosted its stake in Intel by 4.6% in the 3rd quarter. Geode Capital Management LLC now owns 92,510,098 shares of the chip maker's stock worth $2,162,891,000 after buying an additional 4,103,553 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Intel by 28.2% in the 3rd 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 buying an additional 12,865,308 shares during the last quarter. Van ECK Associates Corp lifted its stake in shares of Intel by 27.2% in the 3rd quarter. Van ECK Associates Corp now owns 44,013,936 shares of the chip maker's stock valued at $967,426,000 after purchasing an additional 9,422,136 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Intel by 7.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 31,690,418 shares of the chip maker's stock valued at $743,457,000 after purchasing an additional 2,248,332 shares in the last quarter. 64.53% of the stock is owned by institutional investors and hedge funds.

Intel Stock Performance

Intel stock traded down $1.23 during trading hours on Friday, hitting $24.87. The stock had a trading volume of 111,281,705 shares, compared to its average volume of 98,030,531. The company has a 50-day moving average of $20.75 and a two-hundred day moving average of $21.62. The company has a quick ratio of 0.98, a current ratio of 1.33 and a debt-to-equity ratio of 0.44. The company has a market cap of $107.67 billion, a PE ratio of -5.68 and a beta of 1.08. Intel Co. has a fifty-two week low of $18.51 and a fifty-two week high of $46.63.

Intel (NASDAQ:INTC - Get Free Report) last issued 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%. On average, equities research analysts anticipate that Intel Co. will post -0.11 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on INTC shares. Citigroup reduced their price objective on Intel from $22.00 to $21.00 and set a "neutral" rating on the stock in a research note on Tuesday, January 21st. Bank of America reaffirmed an "underperform" rating and issued a $21.00 price objective on shares of Intel in a research note on Tuesday, December 3rd. Needham & Company LLC reiterated a "hold" rating on shares of Intel in a report on Friday, January 31st. Robert W. Baird raised their target price on Intel from $20.00 to $25.00 and gave the company a "neutral" rating in a report on Friday, November 1st. Finally, Stifel Nicolaus dropped their target price on Intel from $25.00 to $21.00 and set a "hold" rating on the stock in a report on Friday, January 31st. Five equities research analysts have rated the stock with a sell rating, twenty-seven have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $26.88.

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.