Legal & General Group Plc Trims Stock Position in Intel Co. (NASDAQ:INTC)

Legal & General Group Plc lowered its stake in Intel Co. (NASDAQ:INTC) by 27.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 32,815,822 shares of the chip maker’s stock after selling 12,130,378 shares during the period. Legal & General Group Plc owned approximately 0.76% of Intel worth $657,957,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Norges Bank acquired a new stake in shares of Intel in the 4th quarter valued at approximately $1,246,569,000. Assenagon Asset Management S.A. lifted its holdings in Intel by 264.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 19,617,088 shares of the chip maker’s stock valued at $393,323,000 after acquiring an additional 14,227,458 shares during the period. Vanguard Group Inc. boosted its position in shares of Intel by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 369,099,204 shares of the chip maker’s stock worth $7,400,439,000 after purchasing an additional 6,143,164 shares in the last quarter. Geode Capital Management LLC increased 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 valued at $2,162,891,000 after purchasing an additional 4,103,553 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in shares of Intel by 9.4% in the fourth quarter. Invesco Ltd. now owns 43,088,830 shares of the chip maker’s stock valued at $863,931,000 after purchasing an additional 3,696,377 shares during the period. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on INTC. Mizuho dropped 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. JPMorgan Chase & Co. cut their target price on shares of Intel from $26.00 to $23.00 and set an “underweight” rating for the company in a research report on Friday, January 31st. UBS Group dropped their price objective on shares of Intel from $26.00 to $23.00 and set a “neutral” rating for the company in a research note on Tuesday, January 21st. Wells Fargo & Company decreased their price objective on Intel from $28.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Friday, January 31st. Finally, Barclays lowered their price target on shares of Intel from $25.00 to $23.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. Four analysts have rated the stock with a sell rating, twenty-eight have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Intel has a consensus rating of “Hold” and a consensus price target of $25.58.

Intel Stock Down 11.5 %

INTC stock opened at $19.85 on Monday. The company has a market capitalization of $86.56 billion, a P/E ratio of -4.53 and a beta of 1.13. The firm has a 50 day simple moving average of $22.36 and a 200-day simple moving average of $22.21. 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 twelve month low of $18.51 and a twelve month high of $38.86.

Intel (NASDAQ:INTC) last released its earnings results on Thursday, January 30th. The chip maker reported ($0.02) earnings per share 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%. On average, equities research analysts predict that Intel Co. will post -0.11 earnings per share for the current fiscal 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.