Forvis Mazars Wealth Advisors LLC Sells 16,618 Shares of Intel Co. (NASDAQ:INTC)

Forvis Mazars Wealth Advisors LLC decreased its holdings in shares of Intel Co. (NASDAQ:INTC) by 31.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,897 shares of the chip maker’s stock after selling 16,618 shares during the period. Forvis Mazars Wealth Advisors LLC’s holdings in Intel were worth $740,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Assenagon Asset Management S.A. lifted its holdings in Intel by 264.0% in the fourth 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. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Intel by 28.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 58,469,412 shares of the chip maker’s stock valued at $1,371,692,000 after purchasing an additional 12,865,308 shares during the period. Van ECK Associates Corp boosted its position in shares of Intel by 27.2% during the third quarter. Van ECK Associates Corp now owns 44,013,936 shares of the chip maker’s stock valued at $967,426,000 after purchasing an additional 9,422,136 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its position in shares of Intel by 224.8% during the third quarter. Jacobs Levy Equity Management Inc. now owns 10,413,544 shares of the chip maker’s stock valued at $244,302,000 after purchasing an additional 7,207,785 shares in the last quarter. Finally, State Street Corp grew its stake in Intel by 2.8% in the third quarter. State Street Corp now owns 197,958,739 shares of the chip maker’s stock worth $4,644,112,000 after purchasing an additional 5,417,753 shares during the period. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Analyst Ratings Changes

INTC has been the topic of several research reports. Mizuho dropped their price objective on shares of Intel from $23.00 to $21.00 and set a “neutral” rating on the stock in a research note on Friday, January 10th. Robert W. Baird boosted their price target on Intel from $20.00 to $25.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Bank of America reaffirmed an “underperform” rating and set a $21.00 price objective on shares of Intel in a research report on Tuesday, December 3rd. Truist Financial dropped their target price on Intel from $22.00 to $21.00 and set a “hold” rating on the stock 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. Five analysts have rated the stock with a sell rating, twenty-seven have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Intel currently has a consensus rating of “Hold” and a consensus price target of $26.88.

Intel Stock Down 4.7 %

Shares of INTC stock opened at $24.87 on Monday. 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 Co. has a 12 month low of $18.51 and a 12 month high of $46.63. The stock has a market cap of $107.67 billion, a P/E ratio of -5.68 and a beta of 1.08. The company has a 50 day simple moving average of $20.84 and a two-hundred day simple moving average of $21.68.

Intel (NASDAQ:INTC) last announced its earnings results on Thursday, January 30th. The chip maker reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.14). Intel had a negative return on equity of 3.27% and a negative net margin of 35.32%. On average, research analysts expect 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.