Primecap Management Co. CA Reduces Stock Position in Intel Co. (NASDAQ:INTC)

Primecap Management Co. CA lessened its stake in shares of Intel Co. (NASDAQ:INTC) by 0.3% in the fourth quarter, HoldingsChannel reports. The firm owned 77,049,937 shares of the chip maker’s stock after selling 217,175 shares during the quarter. Intel makes up approximately 1.2% of Primecap Management Co. CA’s holdings, making the stock its 24th biggest holding. Primecap Management Co. CA’s holdings in Intel were worth $1,544,851,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. 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 purchasing an additional 5,417,753 shares in the last quarter. Geode Capital Management LLC increased its position in Intel by 4.6% during the 3rd quarter. Geode Capital Management LLC now owns 92,510,098 shares of the chip maker’s stock worth $2,162,891,000 after purchasing an additional 4,103,553 shares in the last quarter. 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 purchasing an additional 12,865,308 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Intel by 7.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 33,938,760 shares of the chip maker’s stock valued at $680,472,000 after buying an additional 2,248,342 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in Intel by 0.3% in the 4th quarter. Bank of New York Mellon Corp now owns 30,616,197 shares of the chip maker’s stock valued at $613,855,000 after buying an additional 86,483 shares during the period. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Intel Stock Performance

Shares of INTC opened at $25.69 on Tuesday. The business’s 50 day moving average is $21.56 and its two-hundred day moving average is $21.90. Intel Co. has a 52-week low of $18.51 and a 52-week high of $45.41. The firm has a market cap of $111.24 billion, a price-to-earnings ratio of -5.87 and a beta of 1.02. The company has a quick ratio of 0.98, a current ratio of 1.33 and a debt-to-equity ratio of 0.44.

Intel (NASDAQ:INTC) last announced its earnings results on Thursday, January 30th. The chip maker reported ($0.02) earnings per share (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%. Analysts forecast that Intel Co. will post -0.11 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

INTC has been the subject of several recent analyst reports. Citigroup lowered their price target on Intel from $22.00 to $21.00 and set a “neutral” rating for the company in a report on Tuesday, January 21st. Wells Fargo & Company lowered their price target on Intel from $28.00 to $25.00 and set an “equal weight” rating for the company in a report on Friday, January 31st. Truist Financial lowered their price target on Intel from $22.00 to $21.00 and set a “hold” rating for the company in a report on Friday, January 31st. Barclays lowered their price target on Intel from $25.00 to $23.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. Finally, Roth Mkm lowered their price target on Intel from $25.00 to $20.00 and set a “neutral” rating for the company in a report on Friday, January 31st. Four investment analysts have rated the stock with a sell rating, twenty-eight have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $27.04.

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.