Peapack Gladstone Financial Corp reduced its stake in Intel Co. (NASDAQ:INTC - Free Report) by 23.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 252,899 shares of the chip maker's stock after selling 77,654 shares during the period. Peapack Gladstone Financial Corp's holdings in Intel were worth $5,071,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in INTC. Vanguard Group Inc. grew its stake in Intel by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 369,099,204 shares of the chip maker's stock valued at $7,400,439,000 after acquiring an additional 6,143,164 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Intel by 3.2% in the 4th quarter. Geode Capital Management LLC now owns 95,488,444 shares of the chip maker's stock valued at $1,909,761,000 after acquiring an additional 2,978,346 shares in the last quarter. Norges Bank bought a new stake in shares of Intel during the 4th quarter valued at about $1,246,569,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Intel by 7.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 33,938,760 shares of the chip maker's stock worth $680,472,000 after purchasing an additional 2,248,342 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Intel by 0.3% in the fourth quarter. Bank of New York Mellon Corp now owns 30,616,197 shares of the chip maker's stock worth $613,855,000 after purchasing an additional 86,483 shares during the last quarter. 64.53% of the stock is currently owned by hedge funds and other institutional investors.
Intel Stock Down 9.6 %
Intel stock traded down $2.06 during mid-day trading on Thursday, reaching $19.47. The stock had a trading volume of 74,557,362 shares, compared to its average volume of 77,257,913. Intel Co. has a one year low of $17.67 and a one year high of $38.22. The company has a 50-day moving average price of $22.35 and a two-hundred day moving average price of $22.14. The company has a market capitalization of $84.88 billion, a price-to-earnings ratio of -4.44 and a beta of 1.13. 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 (NASDAQ:INTC - Get Free Report) last posted 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%. On average, analysts expect that Intel Co. will post -0.11 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
A number of equities analysts have commented on INTC shares. Citigroup cut their price target on shares of Intel from $22.00 to $21.00 and set a "neutral" rating for the company in a research note on Tuesday, January 21st. Mizuho reduced their target price on Intel from $23.00 to $21.00 and set a "neutral" rating on the stock in a research note on Friday, January 10th. Truist Financial dropped their target price on Intel from $22.00 to $21.00 and set a "hold" rating for the company in a research report on Friday, January 31st. Hsbc Global Res raised Intel from a "moderate sell" rating to a "hold" rating in a research note on Tuesday, January 21st. Finally, Benchmark restated a "hold" rating on shares of Intel in a report on Friday, January 31st. Four equities research analysts have rated the stock with a sell rating, twenty-eight have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $25.58.
Check Out Our Latest Stock 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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