DnB Asset Management AS Sells 1,492,427 Shares of Intel Co. (NASDAQ:INTC)

DnB Asset Management AS reduced its position in shares of Intel Co. (NASDAQ:INTC) by 31.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,270,405 shares of the chip maker’s stock after selling 1,492,427 shares during the quarter. DnB Asset Management AS’s holdings in Intel were worth $65,572,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Geode Capital Management LLC lifted its holdings in shares of Intel by 4.6% in 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. Relyea Zuckerberg Hanson LLC lifted its stake in shares of Intel by 211.6% in the fourth 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 in the last quarter. Principal Financial Group Inc. increased its position in shares of Intel by 4.4% during the third quarter. Principal Financial Group Inc. now owns 4,827,123 shares of the chip maker’s stock worth $113,244,000 after acquiring an additional 204,200 shares in the last quarter. Empirical Asset Management LLC acquired a new stake in shares of Intel in the 4th quarter worth about $276,000. Finally, InvesTrust bought a new position in Intel in the 4th quarter valued at about $3,696,000. Institutional investors own 64.53% of the company’s stock.

Intel Stock Up 0.9 %

Shares of NASDAQ:INTC opened at $23.62 on Friday. The stock has a market capitalization of $102.27 billion, a P/E ratio of -5.39 and a beta of 1.02. The stock’s 50-day moving average price is $22.30 and its 200-day moving average price is $22.10. 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 Co. has a 12-month low of $18.51 and a 12-month high of $45.41.

Intel (NASDAQ:INTC) last posted its quarterly earnings results on Thursday, January 30th. The chip maker reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.14). Intel had a negative return on equity of 3.27% and a negative net margin of 35.32%. On average, equities analysts anticipate that Intel Co. will post -0.11 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have commented on INTC shares. Stifel Nicolaus decreased their price objective on Intel from $25.00 to $21.00 and set a “hold” rating for the company in a report on Friday, January 31st. Citigroup lowered their price target on Intel from $22.00 to $21.00 and set a “neutral” rating for the company in a research report on Tuesday, January 21st. Truist Financial cut their price objective on shares of Intel from $22.00 to $21.00 and set a “hold” rating on the stock in a report on Friday, January 31st. Wells Fargo & Company lowered their target price on shares of Intel from $28.00 to $25.00 and set an “equal weight” rating for the company in a report on Friday, January 31st. Finally, Cantor Fitzgerald boosted their price target on shares of Intel from $22.00 to $29.00 and gave the stock a “neutral” rating in a report on Tuesday, February 18th. Four equities research analysts have rated the stock with a sell rating, twenty-eight have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Intel presently has an average rating of “Hold” and an average price target 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.