Bridges Investment Management Inc. Sells 2,408 Shares of Intel Co. (NASDAQ:INTC)

Bridges Investment Management Inc. lowered its position in Intel Co. (NASDAQ:INTC) by 9.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 23,586 shares of the chip maker’s stock after selling 2,408 shares during the quarter. Bridges Investment Management Inc.’s holdings in Intel were worth $473,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Assenagon Asset Management S.A. increased its stake 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 last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Intel by 28.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 58,469,412 shares of the chip maker’s stock valued at $1,371,692,000 after acquiring an additional 12,865,308 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its stake in Intel by 224.8% in the third quarter. Jacobs Levy Equity Management Inc. now owns 10,413,544 shares of the chip maker’s stock valued at $244,302,000 after acquiring an additional 7,207,785 shares during the last quarter. State Street Corp increased its stake in Intel by 2.8% in the third quarter. State Street Corp now owns 197,958,739 shares of the chip maker’s stock valued at $4,644,112,000 after acquiring an additional 5,417,753 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in Intel by 4.6% in the third quarter. Geode Capital Management LLC now owns 92,510,098 shares of the chip maker’s stock valued at $2,162,891,000 after acquiring an additional 4,103,553 shares during the last quarter. Institutional investors own 64.53% of the company’s stock.

Wall Street Analyst Weigh In

INTC has been the topic of a number of research analyst reports. Hsbc Global Res raised Intel from a “moderate sell” rating to a “hold” rating in a research note on Tuesday, January 21st. Cantor Fitzgerald increased their target price on Intel from $22.00 to $29.00 and gave the company a “neutral” rating in a research note on Tuesday, February 18th. Bank of America restated an “underperform” rating and set a $21.00 price target on shares of Intel in a research report on Tuesday, December 3rd. Roth Mkm cut their price target on shares of Intel from $25.00 to $20.00 and set a “neutral” rating for the company in a research report on Friday, January 31st. Finally, UBS Group cut their price target on shares of Intel from $26.00 to $23.00 and set a “neutral” rating for the company in a research report on Tuesday, January 21st. Five investment analysts have rated the stock with a sell rating, twenty-seven have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $26.88.

Intel Price Performance

Shares of NASDAQ INTC opened at $22.74 on Tuesday. Intel Co. has a fifty-two week low of $18.51 and a fifty-two week high of $46.63. The company has a 50 day simple moving average of $21.26 and a two-hundred day simple moving average of $21.82. The company has a market capitalization of $98.46 billion, a price-to-earnings ratio of -5.19 and a beta of 1.08. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.98 and a current ratio of 1.33.

Intel (NASDAQ:INTC) last announced its earnings results on Thursday, January 30th. The chip maker reported ($0.02) earnings per share 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%. Analysts expect that Intel Co. will post -0.11 EPS for the current fiscal 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.