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

Principal Financial Group Inc. boosted its holdings in Intel Co. (NASDAQ:INTC) by 0.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,847,693 shares of the chip maker’s stock after acquiring an additional 20,570 shares during the period. Principal Financial Group Inc.’s holdings in Intel were worth $97,196,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in INTC. Assenagon Asset Management S.A. raised its stake in Intel by 264.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 19,617,088 shares of the chip maker’s stock valued at $393,323,000 after acquiring an additional 14,227,458 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Intel by 28.2% during 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 period. Van ECK Associates Corp increased its position in Intel by 27.2% during the 3rd quarter. Van ECK Associates Corp now owns 44,013,936 shares of the chip maker’s stock worth $967,426,000 after buying an additional 9,422,136 shares during the period. Jacobs Levy Equity Management Inc. increased its position in Intel by 224.8% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 10,413,544 shares of the chip maker’s stock worth $244,302,000 after buying an additional 7,207,785 shares during the period. Finally, State Street Corp increased its position in Intel by 2.8% during 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 period. Institutional investors own 64.53% of the company’s stock.

Intel Stock Performance

Shares of INTC stock opened at $27.39 on Wednesday. The business’s 50-day moving average price is $20.38 and its 200-day moving average price is $21.52. Intel Co. has a 12 month low of $18.51 and a 12 month high of $46.63. The firm has a market capitalization of $118.60 billion, a price-to-earnings ratio of -6.25 and a beta of 1.08. The company has a current ratio of 1.33, a quick ratio of 0.98 and a debt-to-equity ratio of 0.44.

Intel (NASDAQ:INTC) last announced 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%. Equities research analysts forecast that Intel Co. will post -0.11 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Truist Financial lowered their price objective on Intel from $22.00 to $21.00 and set a “hold” rating on the stock in a research report on Friday, January 31st. Mizuho lowered their price objective on Intel from $23.00 to $21.00 and set a “neutral” rating on the stock in a research report on Friday, January 10th. Wells Fargo & Company lowered their price objective on Intel from $28.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Friday, January 31st. Stifel Nicolaus reduced 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. Finally, Barclays reduced their target price on Intel from $25.00 to $23.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. Five investment analysts have rated the stock with a sell rating, twenty-seven have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $26.88.

Intel 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.