KLP Kapitalforvaltning AS Purchases New Position in Intel Co. (NASDAQ:INTC)

KLP Kapitalforvaltning AS purchased a new stake in shares of Intel Co. (NASDAQ:INTC) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,427,308 shares of the chip maker’s stock, valued at approximately $28,618,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in INTC. Dunhill Financial LLC raised its position in Intel by 22.6% in the third quarter. Dunhill Financial LLC now owns 2,380 shares of the chip maker’s stock valued at $56,000 after purchasing an additional 438 shares during the period. CFM Wealth Partners LLC raised its position in Intel by 4.0% in the fourth quarter. CFM Wealth Partners LLC now owns 13,114 shares of the chip maker’s stock valued at $263,000 after purchasing an additional 500 shares during the period. Wealth Quarterback LLC raised its position in Intel by 2.0% in the fourth quarter. Wealth Quarterback LLC now owns 25,458 shares of the chip maker’s stock valued at $510,000 after purchasing an additional 508 shares during the period. Missouri Trust & Investment Co raised its position in Intel by 3.6% in the fourth quarter. Missouri Trust & Investment Co now owns 15,650 shares of the chip maker’s stock valued at $314,000 after purchasing an additional 550 shares during the period. Finally, Riverview Trust Co raised its position in Intel by 2.0% in the fourth quarter. Riverview Trust Co now owns 28,567 shares of the chip maker’s stock valued at $573,000 after purchasing an additional 565 shares during the period. 64.53% of the stock is owned by institutional investors.

Intel Stock Performance

NASDAQ INTC opened at $24.26 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.33 and a quick ratio of 0.98. Intel Co. has a 1 year low of $18.51 and a 1 year high of $45.41. The company has a market capitalization of $105.05 billion, a PE ratio of -5.54 and a beta of 1.02. The company has a fifty day moving average of $21.95 and a two-hundred day moving average of $21.99.

Intel (NASDAQ:INTC) last released its quarterly earnings data on Thursday, January 30th. The chip maker reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate 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, analysts expect that Intel Co. will post -0.11 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have issued reports on the company. UBS Group cut their target price on Intel from $26.00 to $23.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 21st. Bank of America raised Intel from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $19.00 to $25.00 in a research report on Thursday, March 13th. Needham & Company LLC reissued a “hold” rating on shares of Intel in a research report on Friday, January 31st. Benchmark reaffirmed a “hold” rating on shares of Intel in a research report on Friday, January 31st. Finally, Roth Mkm cut their price objective on Intel from $25.00 to $20.00 and set a “neutral” rating on the stock in a research report on Friday, January 31st. Four investment analysts have rated the stock with a sell rating, twenty-eight have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price 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.