OVERSEA CHINESE BANKING Corp Ltd Lowers Stock Position in Intel Co. (NASDAQ:INTC)

OVERSEA CHINESE BANKING Corp Ltd decreased its position in Intel Co. (NASDAQ:INTC) by 41.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 562,910 shares of the chip maker’s stock after selling 391,383 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Intel were worth $11,427,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Xponance Inc. increased its stake in shares of Intel by 5.2% in the 4th quarter. Xponance Inc. now owns 662,665 shares of the chip maker’s stock valued at $13,286,000 after purchasing an additional 32,491 shares in the last quarter. Intech Investment Management LLC increased its position in shares of Intel by 18.5% in the fourth quarter. Intech Investment Management LLC now owns 219,293 shares of the chip maker’s stock valued at $4,397,000 after buying an additional 34,244 shares in the last quarter. Generali Asset Management SPA SGR purchased a new stake in shares of Intel in the fourth quarter valued at approximately $5,098,000. Horizon Investments LLC raised its stake in shares of Intel by 74.2% during the 4th quarter. Horizon Investments LLC now owns 165,976 shares of the chip maker’s stock worth $3,328,000 after buying an additional 70,710 shares during the period. Finally, Thrivent Financial for Lutherans lifted its position in shares of Intel by 0.3% during the 4th quarter. Thrivent Financial for Lutherans now owns 213,378 shares of the chip maker’s stock valued at $4,356,000 after buying an additional 743 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 research firms have weighed in on INTC. Stifel Nicolaus reduced their price objective on shares of Intel from $25.00 to $21.00 and set a “hold” rating for the company in a research report on Friday, January 31st. Roth Mkm decreased their price target on shares of Intel from $25.00 to $20.00 and set a “neutral” rating on the stock in a research note on Friday, January 31st. JPMorgan Chase & Co. lowered their price objective on Intel from $26.00 to $23.00 and set an “underweight” rating on the stock in a report on Friday, January 31st. Citigroup reduced their target price on Intel from $22.00 to $21.00 and set a “neutral” rating for the company in a report on Tuesday, January 21st. Finally, Bank of America upgraded Intel from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from $19.00 to $25.00 in a research report on Thursday, March 13th. Four investment analysts have rated the stock with a sell rating, twenty-eight have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $27.04.

Intel Stock Up 0.9 %

Shares of INTC opened at $25.92 on Wednesday. The company’s 50-day moving average price is $21.68 and its 200 day moving average price is $21.93. Intel Co. has a 12-month low of $18.51 and a 12-month high of $45.41. 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 firm has a market cap of $112.23 billion, a P/E ratio of -5.92 and a beta of 1.02.

Intel (NASDAQ:INTC) last released its quarterly earnings results on Thursday, January 30th. The chip maker reported ($0.02) earnings per share (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, sell-side 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.