Channing Capital Management LLC Purchases 210,495 Shares of Intel Co. (NASDAQ:INTC)

Channing Capital Management LLC boosted its position in Intel Co. (NASDAQ:INTC) by 99.6% during the fourth quarter, HoldingsChannel reports. The fund owned 421,853 shares of the chip maker’s stock after buying an additional 210,495 shares during the quarter. Channing Capital Management LLC’s holdings in Intel were worth $8,458,000 as of its most recent filing with the SEC.

Several other institutional investors have also added to or reduced their stakes in the business. Geode Capital Management LLC raised 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 valued at $2,162,891,000 after purchasing an additional 4,103,553 shares during the period. Relyea Zuckerberg Hanson LLC raised its holdings in Intel by 211.6% during the 4th quarter. Relyea Zuckerberg Hanson LLC now owns 28,898 shares of the chip maker’s stock valued at $579,000 after acquiring an additional 19,625 shares during the period. Principal Financial Group Inc. raised its holdings in Intel by 4.4% during the 3rd quarter. Principal Financial Group Inc. now owns 4,827,123 shares of the chip maker’s stock valued at $113,244,000 after acquiring an additional 204,200 shares during the period. Empirical Asset Management LLC purchased a new stake in shares of Intel during the fourth quarter worth $276,000. Finally, Swiss National Bank boosted its holdings in shares of Intel by 0.3% in the third quarter. Swiss National Bank now owns 12,635,400 shares of the chip maker’s stock worth $296,426,000 after acquiring an additional 31,800 shares during the period. 64.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Roth Mkm decreased their price objective on Intel from $25.00 to $20.00 and set a “neutral” rating on the stock in a research note on Friday, January 31st. Cantor Fitzgerald upped their price target on Intel from $22.00 to $29.00 and gave the company a “neutral” rating in a research report on Tuesday, February 18th. JPMorgan Chase & Co. cut 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. Needham & Company LLC reaffirmed a “hold” rating on shares of Intel in a report on Friday, January 31st. Finally, Rosenblatt Securities reissued a “sell” rating and issued a $20.00 price target on shares of Intel in a report on Thursday, January 30th. Five investment analysts have rated the stock with a sell rating, twenty-seven have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Intel has a consensus rating of “Hold” and a consensus price target of $26.88.

Intel Price Performance

Shares of NASDAQ:INTC opened at $19.93 on Tuesday. The company’s fifty day moving average is $21.30 and its 200 day moving average is $21.81. The company has a quick ratio of 0.98, a current ratio of 1.33 and a debt-to-equity ratio of 0.44. Intel Co. has a 52 week low of $18.51 and a 52 week high of $45.41. The stock has a market cap of $86.30 billion, a PE ratio of -4.55 and a beta of 1.02.

Intel (NASDAQ:INTC) last released its quarterly earnings data on Thursday, January 30th. The chip maker reported ($0.02) 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%. Research 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.