Resona Asset Management Co. Ltd. Acquires Shares of 1,435,890 Intel Co. (NASDAQ:INTC)

Resona Asset Management Co. Ltd. bought a new position in shares of Intel Co. (NASDAQ:INTC) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 1,435,890 shares of the chip maker’s stock, valued at approximately $28,837,000.

A number of other large investors also recently modified their holdings of INTC. Geode Capital Management LLC raised its stake in shares of Intel by 4.6% in the third 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 during the last quarter. Relyea Zuckerberg Hanson LLC raised its position in Intel by 211.6% in the 4th quarter. Relyea Zuckerberg Hanson LLC now owns 28,898 shares of the chip maker’s stock valued at $579,000 after buying an additional 19,625 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Intel by 4.4% during the 3rd quarter. Principal Financial Group Inc. now owns 4,827,123 shares of the chip maker’s stock valued at $113,244,000 after acquiring an additional 204,200 shares in the last quarter. Empirical Asset Management LLC purchased a new position in Intel during the 4th quarter worth $276,000. Finally, InvesTrust bought a new stake in shares of Intel in the 4th quarter worth $3,696,000. 64.53% of the stock is currently owned by institutional investors.

Intel Stock Down 11.5 %

Shares of NASDAQ INTC opened at $19.85 on Friday. The stock has a market capitalization of $86.56 billion, a P/E ratio of -4.53 and a beta of 1.13. Intel Co. has a one year low of $18.51 and a one year high of $38.86. The firm’s 50 day simple moving average is $22.36 and its two-hundred day simple moving average is $22.20. 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 (NASDAQ:INTC) last released its earnings results 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, analysts expect that Intel Co. will post -0.11 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on INTC. UBS Group cut their price target on shares of Intel from $26.00 to $23.00 and set a “neutral” rating on the stock in a report on Tuesday, January 21st. Mizuho cut their target price on Intel from $23.00 to $21.00 and set a “neutral” rating on the stock in a research note on Friday, January 10th. Barclays decreased their price target on Intel from $25.00 to $23.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. Bank of America raised Intel from an “underperform” rating to a “neutral” rating and boosted their price objective for the stock from $19.00 to $25.00 in a research report on Thursday, March 13th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Intel in a research report on Friday, January 31st. Four research analysts have rated the stock with a sell rating, twenty-eight have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $25.58.

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.