Choate Investment Advisors Lowers Holdings in Intel Co. (NASDAQ:INTC)

Choate Investment Advisors trimmed its position in Intel Co. (NASDAQ:INTC) by 8.0% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 97,320 shares of the chip maker’s stock after selling 8,430 shares during the quarter. Choate Investment Advisors’ holdings in Intel were worth $1,951,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Geode Capital Management LLC lifted its holdings 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 worth $2,162,891,000 after buying an additional 4,103,553 shares during the period. Relyea Zuckerberg Hanson LLC lifted its holdings in shares of Intel by 211.6% in the 4th quarter. Relyea Zuckerberg Hanson LLC now owns 28,898 shares of the chip maker’s stock worth $579,000 after buying an additional 19,625 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Intel by 4.4% in the 3rd quarter. Principal Financial Group Inc. now owns 4,827,123 shares of the chip maker’s stock worth $113,244,000 after buying an additional 204,200 shares during the period. Empirical Asset Management LLC purchased a new stake in shares of Intel in the 4th quarter worth $276,000. Finally, Swiss National Bank lifted its holdings in shares of Intel by 0.3% in the 3rd quarter. Swiss National Bank now owns 12,635,400 shares of the chip maker’s stock worth $296,426,000 after buying an additional 31,800 shares during the period. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

INTC has been the subject of a number of analyst reports. Benchmark restated a “hold” rating on shares of Intel in a research note on Friday, January 31st. Mizuho decreased their price objective on Intel from $23.00 to $21.00 and set a “neutral” rating for the company in a research note on Friday, January 10th. Barclays decreased their price objective on Intel from $25.00 to $23.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. Truist Financial decreased their price objective on Intel from $22.00 to $21.00 and set a “hold” rating for the company in a research note on Friday, January 31st. Finally, Wells Fargo & Company decreased their price objective on Intel from $28.00 to $25.00 and set an “equal weight” rating for the company in a research note on Friday, January 31st. Four equities research analysts have rated the stock with a sell rating, twenty-eight have given a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $27.04.

Intel Stock Up 1.5 %

Intel stock opened at $24.05 on Friday. The firm has a market cap of $104.14 billion, a price-to-earnings ratio of -5.49 and a beta of 1.02. Intel Co. has a 52 week low of $18.51 and a 52 week high of $45.41. The business’s 50-day moving average price is $21.45 and its 200 day moving average price is $21.85. The company has a quick ratio of 0.98, a current ratio of 1.33 and a debt-to-equity ratio of 0.44.

Intel (NASDAQ:INTC) last posted its 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 return on equity of 3.27% and a negative net margin of 35.32%. As a group, sell-side 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.