Westchester Capital Management Inc. Decreases Stake in Intel Co. (NASDAQ:INTC)

Westchester Capital Management Inc. cut its stake in shares of Intel Co. (NASDAQ:INTC) by 4.1% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 202,146 shares of the chip maker’s stock after selling 8,620 shares during the period. Intel makes up approximately 1.0% of Westchester Capital Management Inc.’s holdings, making the stock its 25th largest holding. Westchester Capital Management Inc.’s holdings in Intel were worth $4,053,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the business. Quest Partners LLC boosted its position in shares of Intel by 7,370.6% in the 3rd quarter. Quest Partners LLC now owns 1,270 shares of the chip maker’s stock valued at $30,000 after purchasing an additional 1,253 shares during the period. Finley Financial LLC bought a new position in Intel in the 4th quarter worth approximately $25,000. Synergy Investment Management LLC bought a new position in Intel in the 4th quarter worth approximately $27,000. BankPlus Trust Department bought a new stake in shares of Intel during the fourth quarter valued at approximately $28,000. Finally, Keystone Financial Group Inc. bought a new stake in shares of Intel during the fourth quarter valued at approximately $29,000. 64.53% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Stifel Nicolaus decreased their price target on Intel from $25.00 to $21.00 and set a “hold” rating on the stock in a research note on Friday, January 31st. HSBC upgraded Intel from a “reduce” rating to a “hold” rating in a research report on Tuesday, January 21st. Truist Financial dropped their price objective on Intel from $22.00 to $21.00 and set a “hold” rating for the company in a report on Friday, January 31st. Hsbc Global Res upgraded Intel from a “moderate sell” rating to a “hold” rating in a report on Tuesday, January 21st. Finally, Mizuho lowered their price target on Intel from $23.00 to $21.00 and set a “neutral” rating for the company in a report on Friday, January 10th. Five investment analysts have rated the stock with a sell rating, twenty-seven have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Intel presently has a consensus rating of “Hold” and an average target price of $26.88.

Intel Stock Performance

Intel stock opened at $19.78 on Wednesday. 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 Co. has a 1-year low of $18.51 and a 1-year high of $45.41. The firm has a market capitalization of $85.65 billion, a P/E ratio of -4.52 and a beta of 1.02. The company’s 50-day moving average is $21.29 and its 200 day moving average is $21.81.

Intel (NASDAQ:INTC) last released its quarterly earnings data 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%. Research 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.