California Public Employees Retirement System Trims Holdings in Intel Co. (NASDAQ:INTC)

California Public Employees Retirement System lowered its holdings in shares of Intel Co. (NASDAQ:INTC) by 5.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,582,876 shares of the chip maker’s stock after selling 791,607 shares during the period. California Public Employees Retirement System owned 0.29% of Intel worth $252,287,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Finley Financial LLC acquired a new position in shares of Intel in the fourth quarter valued at approximately $25,000. Synergy Investment Management LLC acquired a new position in Intel in the 4th quarter valued at $27,000. BankPlus Trust Department purchased a new position in Intel during the 4th quarter worth $28,000. Keystone Financial Group Inc. acquired a new stake in shares of Intel in the 4th quarter worth $29,000. Finally, Quest Partners LLC boosted its holdings in shares of Intel by 7,370.6% in the third quarter. Quest Partners LLC now owns 1,270 shares of the chip maker’s stock valued at $30,000 after acquiring an additional 1,253 shares in the last quarter. 64.53% of the stock is owned by hedge funds and other institutional investors.

Intel Stock Down 3.9 %

INTC stock opened at $22.71 on Friday. The company has a 50 day moving average price of $22.33 and a two-hundred day moving average price of $22.15. 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 stock has a market capitalization of $98.33 billion, a P/E ratio of -5.18 and a beta of 1.02. Intel Co. has a one year low of $18.51 and a one year high of $45.41.

Intel (NASDAQ:INTC) last announced its quarterly earnings data 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 net margin of 35.32% and a negative return on equity of 3.27%. As a group, sell-side analysts expect that Intel Co. will post -0.11 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on INTC shares. Cantor Fitzgerald raised their price objective on shares of Intel from $22.00 to $29.00 and gave the company a “neutral” rating in a research report on Tuesday, February 18th. Needham & Company LLC reissued a “hold” rating on shares of Intel in a report on Friday, January 31st. Hsbc Global Res upgraded Intel from a “moderate sell” rating to a “hold” rating in a research note on Tuesday, January 21st. Wells Fargo & Company cut their price objective on Intel from $28.00 to $25.00 and set an “equal weight” rating for the company in a research report on Friday, January 31st. Finally, Roth Mkm decreased their target price on shares of Intel from $25.00 to $20.00 and set a “neutral” rating on the stock in a research report on Friday, January 31st. Four research analysts have rated the stock with a sell rating, twenty-eight have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Intel presently has an average rating of “Hold” and an average price target of $27.04.

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.