Prudential Financial Inc. Cuts Holdings in Intel Co. (NASDAQ:INTC)

Prudential Financial Inc. reduced its stake in shares of Intel Co. (NASDAQ:INTC) by 18.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 2,339,056 shares of the chip maker’s stock after selling 530,189 shares during the period. Prudential Financial Inc.’s holdings in Intel were worth $46,898,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. raised its holdings in shares of Intel by 264.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 19,617,088 shares of the chip maker’s stock valued at $393,323,000 after buying an additional 14,227,458 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of 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 acquiring an additional 12,865,308 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in shares of Intel by 224.8% in 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 acquiring an additional 7,207,785 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Intel by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 369,099,204 shares of the chip maker’s stock valued at $7,400,439,000 after purchasing an additional 6,143,164 shares in the last quarter. Finally, State Street Corp raised its position in Intel by 2.8% in the 3rd 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. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on INTC. Barclays lowered their price objective on Intel from $25.00 to $23.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. Cantor Fitzgerald raised their price target on shares of Intel from $22.00 to $29.00 and gave the stock a “neutral” rating in a report on Tuesday, February 18th. JPMorgan Chase & Co. lowered their price objective on shares of Intel from $26.00 to $23.00 and set an “underweight” rating for the company in a research note on Friday, January 31st. Benchmark reissued a “hold” rating on shares of Intel in a research note on Friday, January 31st. Finally, Stifel Nicolaus lowered their price target on Intel from $25.00 to $21.00 and set a “hold” rating for the company 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 given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $27.04.

Intel Stock Performance

NASDAQ INTC opened at $24.20 on Wednesday. Intel Co. has a fifty-two week low of $18.51 and a fifty-two week high of $45.41. The firm has a market capitalization of $104.79 billion, a P/E ratio of -5.53 and a beta of 1.02. The stock’s fifty day moving average is $22.15 and its two-hundred day moving average is $22.08. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.98 and a current ratio of 1.33.

Intel (NASDAQ:INTC) last released its quarterly earnings results on Thursday, January 30th. The chip maker reported ($0.02) 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%. On average, research analysts anticipate that Intel Co. will post -0.11 earnings per share for the current year.

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.