Franklin Resources Inc. Reduces Holdings in Intel Co. (NASDAQ:INTC)

Franklin Resources Inc. decreased its stake in shares of Intel Co. (NASDAQ:INTC) by 42.5% during the fourth quarter, HoldingsChannel reports. The firm owned 1,560,227 shares of the chip maker’s stock after selling 1,150,955 shares during the quarter. Franklin Resources Inc.’s holdings in Intel were worth $31,283,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of INTC. Benjamin Edwards Inc. raised its position in shares of Intel by 35,983.5% in the 3rd quarter. Benjamin Edwards Inc. now owns 32,836 shares of the chip maker’s stock worth $770,000 after acquiring an additional 32,745 shares in the last quarter. Morse Asset Management Inc purchased a new stake in Intel in the third quarter worth $354,000. Quantinno Capital Management LP raised its holdings in Intel by 288.4% in the third quarter. Quantinno Capital Management LP now owns 278,245 shares of the chip maker’s stock worth $6,528,000 after purchasing an additional 206,609 shares in the last quarter. Weiss Asset Management LP purchased a new position in Intel during the third quarter valued at $3,725,000. Finally, Kovitz Investment Group Partners LLC boosted its holdings in shares of Intel by 40.1% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 611,173 shares of the chip maker’s stock valued at $13,293,000 after buying an additional 174,995 shares in the last quarter. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Intel Stock Down 11.5 %

INTC stock opened at $19.85 on Friday. The company has a market cap of $86.56 billion, a price-to-earnings ratio of -4.53 and a beta of 1.13. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.98 and a current ratio of 1.33. The business’s 50-day moving average is $22.36 and its two-hundred day moving average is $22.20. Intel Co. has a fifty-two week low of $18.51 and a fifty-two week high of $38.86.

Intel (NASDAQ:INTC) last issued its quarterly earnings data on Thursday, January 30th. The chip maker reported ($0.02) earnings per share 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%. As a group, analysts forecast that Intel Co. will post -0.11 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Roth Mkm decreased their price target on shares of Intel from $25.00 to $20.00 and set a “neutral” rating for the company in a research note on Friday, January 31st. Benchmark reaffirmed a “hold” rating on shares of Intel in a research note on Friday, January 31st. Truist Financial dropped their price target on Intel from $22.00 to $21.00 and set a “hold” rating on the stock in a research report on Friday, January 31st. Barclays reduced their price objective on Intel from $25.00 to $23.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. Finally, Rosenblatt Securities reissued a “sell” rating and issued a $20.00 target price on shares of Intel in a report on Thursday, January 30th. Four 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, the stock presently has a consensus rating of “Hold” and a consensus price target of $25.58.

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.