DnB Asset Management AS Sells 1,492,427 Shares of Intel Co. (NASDAQ:INTC)

DnB Asset Management AS lessened its position in Intel Co. (NASDAQ:INTC) by 31.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,270,405 shares of the chip maker’s stock after selling 1,492,427 shares during the period. DnB Asset Management AS owned about 0.08% of Intel worth $65,572,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of INTC. Vanguard Group Inc. increased its position in Intel by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 369,099,204 shares of the chip maker’s stock worth $7,400,439,000 after buying an additional 6,143,164 shares during the last quarter. State Street Corp increased its holdings in shares of 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 acquiring an additional 5,417,753 shares during the last quarter. Geode Capital Management LLC raised its stake in 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 acquiring an additional 4,103,553 shares during the period. Norges Bank acquired a new stake in Intel during the 4th quarter valued at $1,246,569,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Intel by 28.2% during 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 worth $1,371,692,000 after purchasing an additional 12,865,308 shares during the period. 64.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. UBS Group lowered their price target on shares of Intel from $26.00 to $23.00 and set a “neutral” rating on the stock in a report on Tuesday, January 21st. Roth Mkm dropped their price target on Intel from $25.00 to $20.00 and set a “neutral” rating for the company in a report on Friday, January 31st. Cantor Fitzgerald upped their price objective on Intel from $22.00 to $29.00 and gave the company a “neutral” rating in a report on Tuesday, February 18th. Truist Financial lowered their price objective on Intel from $22.00 to $21.00 and set a “hold” rating on the stock in a research report on Friday, January 31st. Finally, JPMorgan Chase & Co. reduced their target price 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. Four equities research analysts have rated the stock with a sell rating, twenty-eight have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $27.04.

Intel Trading Up 0.9 %

Shares of INTC stock opened at $23.62 on Friday. The stock has a 50-day moving average of $22.30 and a 200-day moving average of $22.10. The company has a current ratio of 1.33, a quick ratio of 0.98 and a debt-to-equity ratio of 0.44. The stock has a market cap of $102.27 billion, a price-to-earnings ratio of -5.39 and a beta of 1.02. Intel Co. has a 1-year low of $18.51 and a 1-year high of $45.41.

Intel (NASDAQ:INTC) last posted 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%. On average, equities research analysts forecast 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.