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

Channing Capital Management LLC boosted its holdings in Intel Co. (NASDAQ:INTC) by 99.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Assenagon Asset Management S.A. raised its stake in shares of Intel by 264.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 19,617,088 shares of the chip maker’s stock valued at $393,323,000 after acquiring an additional 14,227,458 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Intel by 28.2% in the third 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. Jacobs Levy Equity Management Inc. raised its position in Intel by 224.8% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 10,413,544 shares of the chip maker’s stock worth $244,302,000 after purchasing an additional 7,207,785 shares during the last quarter. State Street Corp lifted its holdings in Intel by 2.8% during the 3rd quarter. State Street Corp now owns 197,958,739 shares of the chip maker’s stock worth $4,644,112,000 after buying an additional 5,417,753 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of Intel by 4.6% in the 3rd quarter. Geode Capital Management LLC now owns 92,510,098 shares of the chip maker’s stock valued at $2,162,891,000 after buying an additional 4,103,553 shares during the last quarter. 64.53% of the stock is currently owned by institutional investors and hedge funds.

Intel Stock Down 3.4 %

INTC stock opened at $19.93 on Tuesday. Intel Co. has a 1-year low of $18.51 and a 1-year high of $45.41. The stock has a market cap of $86.30 billion, a P/E ratio of -4.55 and a beta of 1.02. The stock’s fifty day simple moving average is $21.30 and its two-hundred day simple moving average is $21.81. 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 (NASDAQ:INTC) last issued its quarterly earnings results on Thursday, January 30th. The chip maker reported ($0.02) earnings per share 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%. Analysts expect that Intel Co. will post -0.11 EPS for the current year.

Wall Street Analysts Forecast Growth

INTC has been the subject of a number of analyst reports. JPMorgan Chase & Co. lowered their price objective on Intel from $26.00 to $23.00 and set an “underweight” rating for the company in a research report on Friday, January 31st. Stifel Nicolaus lowered their price target on shares of Intel from $25.00 to $21.00 and set a “hold” rating for the company in a report on Friday, January 31st. Hsbc Global Res raised shares of Intel from a “moderate sell” rating to a “hold” rating in a research note on Tuesday, January 21st. HSBC upgraded shares of Intel from a “reduce” rating to a “hold” rating in a research report on Tuesday, January 21st. Finally, Roth Mkm dropped their target price 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. Five investment analysts have rated the stock with a sell rating, twenty-seven have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $26.88.

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.