Intel Co. (NASDAQ:INTC) Shares Sold by Estabrook Capital Management

Estabrook Capital Management cut its position in Intel Co. (NASDAQ:INTC) by 34.2% during the fourth quarter, HoldingsChannel reports. The firm owned 52,040 shares of the chip maker’s stock after selling 27,077 shares during the quarter. Estabrook Capital Management’s holdings in Intel were worth $1,043,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank acquired a new stake in Intel during the fourth quarter worth approximately $1,246,569,000. Assenagon Asset Management S.A. boosted its stake in Intel by 264.0% in the fourth 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 in the last quarter. Vanguard Group Inc. raised its position in Intel by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 369,099,204 shares of the chip maker’s stock valued at $7,400,439,000 after purchasing an additional 6,143,164 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Intel during the fourth quarter worth about $93,393,000. Finally, Geode Capital Management LLC grew its holdings in shares of Intel by 4.6% during 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 buying an additional 4,103,553 shares during the last quarter. Institutional investors and hedge funds own 64.53% of the company’s stock.

Intel Trading Down 7.4 %

Shares of INTC stock opened at $18.13 on Wednesday. The firm’s 50 day moving average price is $22.28 and its two-hundred day moving average price is $22.15. Intel Co. has a fifty-two week low of $17.67 and a fifty-two week high of $38.58. The company has a quick ratio of 0.98, a current ratio of 1.33 and a debt-to-equity ratio of 0.44. The stock has a market cap of $79.06 billion, a price-to-earnings ratio of -4.14 and a beta of 1.13.

Intel (NASDAQ:INTC) last announced 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%. On average, analysts anticipate that Intel Co. will post -0.11 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Stifel Nicolaus dropped their price objective on shares of Intel from $25.00 to $21.00 and set a “hold” rating on the stock in a research note on Friday, January 31st. UBS Group reduced their target price on Intel from $26.00 to $23.00 and set a “neutral” rating for the company in a report on Tuesday, January 21st. Hsbc Global Res upgraded shares of Intel from a “moderate sell” rating to a “hold” rating in a research report on Tuesday, January 21st. Needham & Company LLC restated a “hold” rating on shares of Intel in a report on Friday, January 31st. Finally, Rosenblatt Securities reaffirmed a “sell” rating and set a $20.00 price objective on shares of Intel in a report on Thursday, January 30th. Four analysts have rated the stock with a sell rating, twenty-eight have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $25.58.

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.