Principal Financial Group Inc. Buys 20,570 Shares of Intel Co. (NASDAQ:INTC)

Principal Financial Group Inc. boosted its position in shares of Intel Co. (NASDAQ:INTC - Free Report) by 0.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,847,693 shares of the chip maker's stock after buying an additional 20,570 shares during the quarter. Principal Financial Group Inc. owned approximately 0.11% of Intel worth $97,196,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Geode Capital Management LLC raised its stake 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 valued at $2,162,891,000 after acquiring an additional 4,103,553 shares during the last quarter. Relyea Zuckerberg Hanson LLC increased its holdings in Intel by 211.6% during the 4th quarter. Relyea Zuckerberg Hanson LLC now owns 28,898 shares of the chip maker's stock valued at $579,000 after purchasing an additional 19,625 shares during the period. Empirical Asset Management LLC bought a new position in Intel during the 4th quarter valued at approximately $276,000. Swiss National Bank lifted its holdings in Intel by 0.3% in the 3rd quarter. Swiss National Bank now owns 12,635,400 shares of the chip maker's stock worth $296,426,000 after buying an additional 31,800 shares during the period. Finally, InvesTrust bought a new stake in shares of Intel in the 4th quarter worth approximately $3,696,000. Hedge funds and other institutional investors own 64.53% of the company's stock.

Intel Price Performance

Shares of INTC stock traded down $1.23 on Friday, hitting $24.87. 111,281,705 shares of the stock traded hands, compared to its average volume of 98,030,531. 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 52 week low of $18.51 and a 52 week high of $46.63. The firm has a 50 day simple moving average of $20.75 and a two-hundred day simple moving average of $21.62. The firm has a market cap of $107.67 billion, a price-to-earnings ratio of -5.68 and a beta of 1.08.

Intel (NASDAQ:INTC - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The chip maker reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.12 by ($0.14). Intel had a negative net margin of 35.32% and a negative return on equity of 3.27%. As a group, equities research analysts predict that Intel Co. will post -0.11 earnings per share for the current fiscal year.

Analysts Set New Price Targets

INTC has been the subject of a number of research analyst reports. Citigroup dropped their price target on Intel from $22.00 to $21.00 and set a "neutral" rating for the company in a research note on Tuesday, January 21st. HSBC raised shares of Intel from a "reduce" rating to a "hold" rating in a research report on Tuesday, January 21st. Hsbc Global Res upgraded shares of Intel from a "moderate sell" rating to a "hold" rating in a research report on Tuesday, January 21st. Stifel Nicolaus lowered their price objective on shares of Intel from $25.00 to $21.00 and set a "hold" rating for the company in a report on Friday, January 31st. Finally, Truist Financial reduced their target price on Intel from $22.00 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 assigned a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus 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.