Grantham Mayo Van Otterloo & Co. LLC Sells 91,342 Shares of Intel Co. (NASDAQ:INTC)

Grantham Mayo Van Otterloo & Co. LLC reduced its position in Intel Co. (NASDAQ:INTC) by 3.7% in the 4th quarter, HoldingsChannel.com reports. The fund owned 2,355,779 shares of the chip maker’s stock after selling 91,342 shares during the period. Grantham Mayo Van Otterloo & Co. LLC’s holdings in Intel were worth $47,233,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Finley Financial LLC purchased a new position in Intel during the 4th quarter valued at about $25,000. Synergy Investment Management LLC purchased a new position in Intel during the fourth quarter valued at approximately $27,000. BankPlus Trust Department bought a new position in Intel in the fourth quarter worth approximately $28,000. Keystone Financial Group Inc. bought a new stake in Intel during the 4th quarter valued at $29,000. Finally, West Financial Advisors LLC purchased a new position in shares of Intel in the 4th quarter valued at $31,000. 64.53% of the stock is owned by hedge funds and other institutional investors.

Intel Trading Down 11.5 %

Shares of NASDAQ:INTC opened at $19.85 on Friday. The business’s 50 day moving average price is $22.36 and its 200-day moving average price is $22.20. Intel Co. has a 1 year low of $18.51 and a 1 year high of $39.46. The firm has a market capitalization of $86.56 billion, a price-to-earnings ratio of -4.53 and a beta of 1.13. 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 (NASDAQ:INTC) last posted 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%. On average, equities research analysts forecast that Intel Co. will post -0.11 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

INTC has been the topic of a number of recent research reports. Bank of America raised Intel from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $19.00 to $25.00 in a research report on Thursday, March 13th. Rosenblatt Securities restated a “sell” rating and issued a $20.00 price target on shares of Intel in a report on Thursday, January 30th. Mizuho reduced their price target on Intel from $23.00 to $21.00 and set a “neutral” rating on the stock in a research report on Friday, January 10th. JPMorgan Chase & Co. dropped their price target on Intel from $26.00 to $23.00 and set an “underweight” rating on the stock in a research note on Friday, January 31st. Finally, Citigroup decreased their price objective on shares of Intel from $22.00 to $21.00 and set a “neutral” rating for the company in a research report on Tuesday, January 21st. Four research 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 company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $25.58.

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.