KLP Kapitalforvaltning AS Invests $28.62 Million in Intel Co. (NASDAQ:INTC)

KLP Kapitalforvaltning AS bought a new position in shares of Intel Co. (NASDAQ:INTC) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,427,308 shares of the chip maker’s stock, valued at approximately $28,618,000.

Other hedge funds have also made changes to their positions in the company. Geode Capital Management LLC boosted its stake 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 period. Relyea Zuckerberg Hanson LLC boosted its stake in shares of Intel by 211.6% during the fourth quarter. Relyea Zuckerberg Hanson LLC now owns 28,898 shares of the chip maker’s stock worth $579,000 after buying an additional 19,625 shares during the period. Principal Financial Group Inc. lifted its position in Intel by 4.4% in the third quarter. Principal Financial Group Inc. now owns 4,827,123 shares of the chip maker’s stock valued at $113,244,000 after purchasing an additional 204,200 shares during the period. Empirical Asset Management LLC acquired a new stake in Intel in the fourth quarter valued at about $276,000. Finally, InvesTrust acquired a new stake in Intel in the fourth quarter valued at about $3,696,000. Institutional investors and hedge funds own 64.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on INTC shares. JPMorgan Chase & Co. reduced their price objective on shares of Intel from $26.00 to $23.00 and set an “underweight” rating for the company in a research report on Friday, January 31st. Mizuho reduced their price objective on shares of Intel from $23.00 to $21.00 and set a “neutral” rating for the company in a research report on Friday, January 10th. Roth Mkm reduced their price objective on shares of Intel from $25.00 to $20.00 and set a “neutral” rating for the company in a research report on Friday, January 31st. Citigroup reduced their price objective on shares of Intel from $22.00 to $21.00 and set a “neutral” rating for the company in a research report on Tuesday, January 21st. Finally, HSBC upgraded shares of Intel from a “reduce” rating to a “hold” rating in a research report on Tuesday, January 21st. Four analysts have rated the stock with a sell rating, twenty-eight have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $27.04.

Intel Stock Up 1.3 %

Shares of NASDAQ INTC opened at $24.26 on Friday. Intel Co. has a 1 year low of $18.51 and a 1 year high of $45.41. The firm’s 50 day moving average price is $21.95 and its 200 day moving average price is $21.99. The firm has a market cap of $105.05 billion, a P/E ratio of -5.54 and a beta of 1.02. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.98 and a current ratio of 1.33.

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 return on equity of 3.27% and a negative net margin of 35.32%. As a group, sell-side analysts anticipate that Intel Co. will post -0.11 earnings per share for the current year.

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.