Intel Co. (NASDAQ:INTC) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System lowered its holdings in Intel Co. (NASDAQ:INTC) by 5.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,582,876 shares of the chip maker’s stock after selling 791,607 shares during the period. California Public Employees Retirement System’s holdings in Intel were worth $252,287,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Geode Capital Management LLC boosted its position 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 buying an additional 4,103,553 shares during the period. Relyea Zuckerberg Hanson LLC lifted its position in Intel by 211.6% during the 4th quarter. Relyea Zuckerberg Hanson LLC now owns 28,898 shares of the chip maker’s stock worth $579,000 after acquiring an additional 19,625 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Intel by 4.4% in the 3rd 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 during the period. Empirical Asset Management LLC acquired a new stake in Intel in the fourth quarter valued at approximately $276,000. Finally, InvesTrust purchased a new stake in shares of Intel during the fourth quarter valued at approximately $3,696,000. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on INTC shares. Citigroup decreased their target price on shares of Intel from $22.00 to $21.00 and set a “neutral” rating for the company in a research note on Tuesday, January 21st. Stifel Nicolaus lowered their target price on Intel from $25.00 to $21.00 and set a “hold” rating for the company in a research note on Friday, January 31st. JPMorgan Chase & Co. dropped their target price on Intel from $26.00 to $23.00 and set an “underweight” rating on the stock in a research report on Friday, January 31st. Benchmark reissued a “hold” rating on shares of Intel in a report on Friday, January 31st. Finally, HSBC upgraded Intel from a “reduce” rating to a “hold” rating in a report on Tuesday, January 21st. Four investment 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. Based on data from MarketBeat, Intel presently has a consensus rating of “Hold” and a consensus target price of $27.04.

Intel Trading Down 3.9 %

NASDAQ:INTC opened at $22.71 on Friday. The firm has a market capitalization of $98.33 billion, a P/E ratio of -5.18 and a beta of 1.02. The business has a 50 day simple moving average of $22.33 and a 200 day simple moving average of $22.15. 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 Co. has a 12-month low of $18.51 and a 12-month high of $45.41.

Intel (NASDAQ:INTC) last announced 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 net margin of 35.32% and a negative return on equity of 3.27%. Equities research analysts predict that Intel Co. will post -0.11 EPS for the current year.

About Intel

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.