Ironwood Investment Counsel LLC Lowers Position in Intel Co. (NASDAQ:INTC)

Ironwood Investment Counsel LLC cut its holdings in Intel Co. (NASDAQ:INTC) by 14.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,650 shares of the chip maker’s stock after selling 2,611 shares during the quarter. Ironwood Investment Counsel LLC’s holdings in Intel were worth $314,000 as of its most recent SEC filing.

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

Intel Trading Up 1.5 %

Intel stock opened at $24.05 on Friday. 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 12 month low of $18.51 and a 12 month high of $45.41. The stock’s 50 day simple moving average is $21.45 and its two-hundred day simple moving average is $21.84. The firm has a market cap of $104.14 billion, a PE ratio of -5.49 and a beta of 1.02.

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

Analysts Set New Price Targets

A number of brokerages have commented on INTC. UBS Group reduced their target price on shares of Intel from $26.00 to $23.00 and set a “neutral” rating for the company in a report on Tuesday, January 21st. Rosenblatt Securities reiterated a “sell” rating and issued a $20.00 target price on shares of Intel in a report on Thursday, January 30th. HSBC upgraded shares of Intel from a “reduce” rating to a “hold” rating in a report on Tuesday, January 21st. Mizuho cut their price objective on shares of Intel from $23.00 to $21.00 and set a “neutral” rating on the stock in a report on Friday, January 10th. Finally, Citigroup cut their price objective on shares of Intel from $22.00 to $21.00 and set a “neutral” rating on the stock in a report on Tuesday, January 21st. Four equities research 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’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $27.04.

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.