Sompo Asset Management Co. Ltd. Buys 83,834 Shares of Intel Co. (NASDAQ:INTC)

Sompo Asset Management Co. Ltd. grew its stake in shares of Intel Co. (NASDAQ:INTC - Free Report) by 46.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 263,849 shares of the chip maker's stock after buying an additional 83,834 shares during the quarter. Sompo Asset Management Co. Ltd.'s holdings in Intel were worth $5,290,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Intel during the 4th quarter valued at about $1,246,569,000. Assenagon Asset Management S.A. raised its stake in shares of Intel by 264.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 19,617,088 shares of the chip maker's stock worth $393,323,000 after acquiring an additional 14,227,458 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 worth $7,400,439,000 after acquiring an additional 6,143,164 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Intel in the 4th quarter valued at $93,393,000. Finally, Invesco Ltd. raised its position in Intel by 9.4% in the 4th quarter. Invesco Ltd. now owns 43,088,830 shares of the chip maker's stock worth $863,931,000 after purchasing an additional 3,696,377 shares during the period. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on INTC. Roth Mkm reduced their price objective on Intel from $25.00 to $20.00 and set a "neutral" rating on the stock in a research note on Friday, January 31st. Needham & Company LLC reaffirmed a "hold" rating on shares of Intel in a research note on Friday. Morgan Stanley cut their target price on shares of Intel from $25.00 to $23.00 and set an "equal weight" rating on the stock in a report on Friday. Bank of America upgraded shares of Intel from an "underperform" rating to a "neutral" rating and upped their price target for the company from $19.00 to $25.00 in a report on Thursday, March 13th. Finally, Rosenblatt Securities decreased their price objective on shares of Intel from $18.00 to $14.00 and set a "sell" rating on the stock in a research report on Friday. Six research analysts have rated the stock with a sell rating, twenty-six have given a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, Intel presently has an average rating of "Hold" and a consensus price target of $22.83.

Intel Stock Down 6.7 %

NASDAQ:INTC traded down $1.44 during trading hours on Friday, reaching $20.05. 147,372,216 shares of the company traded hands, compared to its average volume of 79,617,999. The company has a current ratio of 1.33, a quick ratio of 0.98 and a debt-to-equity ratio of 0.44. The business's 50-day moving average price is $22.07 and its two-hundred day moving average price is $21.90. Intel Co. has a 1 year low of $17.67 and a 1 year high of $37.16. The stock has a market capitalization of $87.43 billion, a P/E ratio of -4.58 and a beta of 1.13.

Intel (NASDAQ:INTC - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The chip maker reported $0.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.01 by $0.12. The company had revenue of $12.67 billion for the quarter, compared to analysts' expectations of $12.26 billion. Intel had a negative net margin of 35.32% and a negative return on equity of 3.27%. During the same quarter in the previous year, the business posted $0.18 EPS. Analysts predict that Intel Co. will post -0.11 earnings per share for the current year.

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.