Westchester Capital Management Inc. Cuts Stock Holdings in Intel Co. (NASDAQ:INTC)

Westchester Capital Management Inc. cut its holdings in Intel Co. (NASDAQ:INTC) by 4.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 202,146 shares of the chip maker’s stock after selling 8,620 shares during the quarter. Intel makes up approximately 1.0% of Westchester Capital Management Inc.’s portfolio, making the stock its 25th largest holding. Westchester Capital Management Inc.’s holdings in Intel were worth $4,053,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. State Street Corp grew 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 acquiring an additional 5,417,753 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Intel by 4.6% during the third 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. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased 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 valued at $1,371,692,000 after acquiring an additional 12,865,308 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Intel by 7.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 33,938,760 shares of the chip maker’s stock worth $680,472,000 after buying an additional 2,248,342 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Intel by 0.3% during the fourth quarter. Bank of New York Mellon Corp now owns 30,616,197 shares of the chip maker’s stock worth $613,855,000 after buying an additional 86,483 shares in the last quarter. Institutional investors and hedge funds own 64.53% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Benchmark reiterated a “hold” rating on shares of Intel in a research report on Friday, January 31st. Rosenblatt Securities restated a “sell” rating and issued a $20.00 price target on shares of Intel in a research report on Thursday, January 30th. Needham & Company LLC restated a “hold” rating on shares of Intel in a research report on Friday, January 31st. Wells Fargo & Company reduced their price target on shares of Intel from $28.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Friday, January 31st. Finally, Stifel Nicolaus dropped their price target on shares of Intel from $25.00 to $21.00 and set a “hold” rating for the company in a research note on Friday, January 31st. Five research analysts have rated the stock with a sell rating, twenty-seven have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $26.88.

Intel Trading Down 0.8 %

Shares of INTC opened at $19.78 on Wednesday. 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 Co. has a 12-month low of $18.51 and a 12-month high of $45.41. The firm has a 50-day moving average price of $21.29 and a 200 day moving average price of $21.81. The firm has a market capitalization of $85.65 billion, a P/E ratio of -4.52 and a beta of 1.02.

Intel (NASDAQ:INTC) last issued its quarterly earnings results 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 return on equity of 3.27% and a negative net margin of 35.32%. Sell-side analysts forecast that Intel Co. will post -0.11 EPS for the current year.

Intel 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.