Truist Financial Corp Reduces Holdings in Intel Co. (NASDAQ:INTC)

Truist Financial Corp lowered its position in Intel Co. (NASDAQ:INTC - Free Report) by 16.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 812,065 shares of the chip maker's stock after selling 155,354 shares during the period. Truist Financial Corp's holdings in Intel were worth $16,282,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Foundations Investment Advisors LLC boosted its stake in Intel by 5.4% in the 3rd quarter. Foundations Investment Advisors LLC now owns 31,071 shares of the chip maker's stock worth $729,000 after purchasing an additional 1,589 shares in the last quarter. Calton & Associates Inc. raised its holdings in shares of Intel by 14.8% in the third quarter. Calton & Associates Inc. now owns 8,702 shares of the chip maker's stock worth $204,000 after buying an additional 1,125 shares during the last quarter. Eastern Bank lifted its stake in shares of Intel by 231.6% during the third quarter. Eastern Bank now owns 66,949 shares of the chip maker's stock worth $1,571,000 after buying an additional 46,760 shares during the period. Tempus Wealth Planning LLC grew its holdings in shares of Intel by 289.0% during the third quarter. Tempus Wealth Planning LLC now owns 40,874 shares of the chip maker's stock valued at $959,000 after buying an additional 30,366 shares during the last quarter. Finally, Weaver Capital Management LLC acquired a new position in shares of Intel in the 3rd quarter valued at $709,000. Institutional investors own 64.53% of the company's stock.

Intel Stock Down 4.2 %

Shares of NASDAQ:INTC traded down $1.09 during trading hours on Friday, reaching $25.00. The stock had a trading volume of 72,089,274 shares, compared to its average volume of 96,791,273. Intel Co. has a 1 year low of $18.51 and a 1 year high of $46.63. The firm's 50 day moving average is $20.75 and its 200-day moving average is $21.62. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.98 and a current ratio of 1.33. The stock has a market capitalization of $108.25 billion, a price-to-earnings ratio of -5.71 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 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%. Research analysts predict that Intel Co. will post -0.11 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have commented on INTC. Roth Mkm lowered their price target on Intel from $25.00 to $20.00 and set a "neutral" rating for the company in a research report on Friday, January 31st. Wells Fargo & Company cut their price target on shares of Intel from $28.00 to $25.00 and set an "equal weight" rating on the stock in a report on Friday, January 31st. Benchmark reissued a "hold" rating on shares of Intel in a research report on Friday, January 31st. Mizuho dropped their price objective on shares of Intel from $23.00 to $21.00 and set a "neutral" rating on the stock in a report on Friday, January 10th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Intel in a report on Friday, January 31st. Five research analysts have rated the stock with a sell rating, twenty-seven have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average 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.