Ensign Peak Advisors Inc Trims Holdings in Intel Co. (NASDAQ:INTC)

Ensign Peak Advisors Inc reduced its stake in shares of Intel Co. (NASDAQ:INTC) by 23.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,426,558 shares of the chip maker’s stock after selling 728,540 shares during the quarter. Ensign Peak Advisors Inc’s holdings in Intel were worth $48,652,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in INTC. Norges Bank purchased a new position in shares of Intel during the fourth quarter worth approximately $1,246,569,000. Assenagon Asset Management S.A. lifted its holdings in shares of Intel by 264.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 19,617,088 shares of the chip maker’s stock worth $393,323,000 after buying an additional 14,227,458 shares during the period. Northern Trust Corp increased its stake in shares of Intel by 15.5% during the fourth quarter. Northern Trust Corp now owns 45,811,555 shares of the chip maker’s stock valued at $918,522,000 after buying an additional 6,157,853 shares during the period. Vanguard Group Inc. raised its holdings in shares of Intel by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 369,099,204 shares of the chip maker’s stock valued at $7,400,439,000 after acquiring an additional 6,143,164 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new position in Intel during the 4th quarter worth about $93,393,000. 64.53% of the stock is currently owned by institutional investors.

Intel Price Performance

Intel stock opened at $21.44 on Friday. The stock has a market capitalization of $93.52 billion, a P/E ratio of -4.89 and a beta of 1.15. The company’s fifty day moving average price is $21.24 and its 200 day moving average price is $21.70. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.98 and a current ratio of 1.33. Intel Co. has a 1 year low of $17.67 and a 1 year high of $37.16.

Intel (NASDAQ:INTC) last issued its quarterly earnings results on Thursday, April 24th. The chip maker reported $0.13 EPS for the quarter, topping the consensus estimate of $0.01 by $0.12. Intel had a negative return on equity of 3.27% and a negative net margin of 35.32%. The firm had revenue of $12.67 billion during the quarter, compared to analysts’ expectations of $12.26 billion. During the same period in the previous year, the business earned $0.18 earnings per share. The firm’s revenue for the quarter was down .4% on a year-over-year basis. As a group, equities research analysts anticipate that Intel Co. will post -0.11 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on INTC shares. Susquehanna dropped their price objective on shares of Intel from $24.00 to $22.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 16th. Wedbush decreased their price objective on Intel from $20.00 to $19.00 and set a “neutral” rating for the company in a research note on Wednesday, April 23rd. Barclays reiterated a “reduce” rating on shares of Intel in a report on Tuesday, April 22nd. Roth Mkm lowered their price target on shares of Intel from $25.00 to $20.00 and set a “neutral” rating on the stock in a report on Friday, January 31st. Finally, Cfra Research raised shares of Intel to a “hold” rating in a research report on Friday, April 25th. Six equities research analysts have rated the stock with a sell rating, twenty-seven have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $22.23.

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.