Naviter Wealth LLC Has $768,000 Stock Position in Intel Co. (NASDAQ:INTC)

Naviter Wealth LLC cut its stake in shares of Intel Co. (NASDAQ:INTC) by 31.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 38,314 shares of the chip maker’s stock after selling 17,284 shares during the period. Naviter Wealth LLC’s holdings in Intel were worth $768,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Geode Capital Management LLC raised its holdings 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 worth $2,162,891,000 after purchasing an additional 4,103,553 shares during the period. Relyea Zuckerberg Hanson LLC raised its stake in Intel by 211.6% during the 4th quarter. Relyea Zuckerberg Hanson LLC now owns 28,898 shares of the chip maker’s stock worth $579,000 after buying an additional 19,625 shares during the period. Principal Financial Group Inc. lifted its holdings in Intel by 4.4% during the third quarter. Principal Financial Group Inc. now owns 4,827,123 shares of the chip maker’s stock worth $113,244,000 after acquiring an additional 204,200 shares in the last quarter. Empirical Asset Management LLC acquired a new position in Intel in the fourth quarter valued at about $276,000. Finally, Swiss National Bank grew its stake in Intel by 0.3% in the third quarter. Swiss National Bank now owns 12,635,400 shares of the chip maker’s stock valued at $296,426,000 after acquiring an additional 31,800 shares during the period. Institutional investors own 64.53% of the company’s stock.

Intel Stock Down 0.5 %

INTC stock opened at $20.64 on Friday. The business’s 50 day simple moving average is $21.30 and its 200 day simple moving average is $21.81. Intel Co. has a 1-year low of $18.51 and a 1-year high of $46.63. The firm has a market capitalization of $89.37 billion, a PE ratio of -4.71 and a beta of 1.02. 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 (NASDAQ:INTC) last issued its quarterly earnings data 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 net margin of 35.32% and a negative return on equity of 3.27%. As a group, research analysts anticipate that Intel Co. will post -0.11 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Bank of America reiterated an “underperform” rating and set a $21.00 price objective on shares of Intel in a report on Tuesday, December 3rd. JPMorgan Chase & Co. cut their price target on shares of Intel from $26.00 to $23.00 and set an “underweight” rating on the stock in a research note on Friday, January 31st. Citigroup lowered 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. Barclays cut their price objective on shares of Intel from $25.00 to $23.00 and set an “equal weight” rating on the stock in a research report on Friday, January 17th. Finally, Rosenblatt Securities reiterated a “sell” rating and set a $20.00 target price on shares of Intel in a report on Thursday, January 30th. 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. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $26.88.

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.