Prudential PLC Sells 165,920 Shares of Intel Co. (NASDAQ:INTC)

Prudential PLC trimmed its holdings in shares of Intel Co. (NASDAQ:INTC) by 25.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 497,185 shares of the chip maker’s stock after selling 165,920 shares during the period. Prudential PLC’s holdings in Intel were worth $9,969,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the stock. Finley Financial LLC acquired a new stake in Intel in the fourth quarter worth $25,000. Synergy Investment Management LLC acquired a new stake in shares of Intel in the 4th quarter valued at about $27,000. BankPlus Trust Department bought a new stake in Intel in the 4th quarter valued at about $28,000. Keystone Financial Group Inc. acquired a new position in Intel during the 4th quarter worth approximately $29,000. Finally, West Financial Advisors LLC bought a new position in Intel in the fourth quarter worth approximately $31,000. Institutional investors and hedge funds own 64.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on INTC. Needham & Company LLC reiterated a “hold” rating on shares of Intel in a report on Friday, January 31st. Cantor Fitzgerald lifted their price objective on shares of Intel from $22.00 to $29.00 and gave the company a “neutral” rating in a report on Tuesday, February 18th. JPMorgan Chase & Co. lowered their target price on shares of Intel from $26.00 to $23.00 and set an “underweight” rating on the stock in a report on Friday, January 31st. UBS Group cut their price target on Intel from $26.00 to $23.00 and set a “neutral” rating for the company in a research note on Tuesday, January 21st. Finally, Hsbc Global Res raised Intel from a “moderate sell” rating to a “hold” rating in a research note on Tuesday, January 21st. Four analysts have rated the stock with a sell rating, twenty-eight have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $25.58.

Intel Stock Down 11.5 %

Intel stock opened at $19.85 on Friday. The firm has a market capitalization of $86.56 billion, a price-to-earnings ratio of -4.53 and a beta of 1.13. The firm has a 50 day simple moving average of $22.36 and a 200 day simple moving average of $22.20. Intel Co. has a 1-year low of $18.51 and a 1-year high of $39.46. 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 (NASDAQ:INTC) last released its quarterly earnings data 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 net margin of 35.32% and a negative return on equity of 3.27%. On average, analysts predict that Intel Co. will post -0.11 earnings per share 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.