Trust Point Inc. Cuts Stock Position in Intel Corporation (NASDAQ:INTC)

Trust Point Inc. trimmed its position in shares of Intel Corporation (NASDAQ:INTC) by 15.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,940 shares of the chip maker’s stock after selling 2,708 shares during the period. Trust Point Inc.’s holdings in Intel were worth $339,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings 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 valued at $7,400,439,000 after purchasing an additional 6,143,164 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Intel by 3.2% during the 4th quarter. Geode Capital Management LLC now owns 95,488,444 shares of the chip maker’s stock valued at $1,909,761,000 after acquiring an additional 2,978,346 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Intel by 8.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 63,263,339 shares of the chip maker’s stock worth $1,268,430,000 after acquiring an additional 4,793,927 shares during the last quarter. Norges Bank purchased a new position in Intel in the 4th quarter worth approximately $1,246,569,000. Finally, Northern Trust Corp lifted its position in Intel by 15.5% in the fourth quarter. Northern Trust Corp now owns 45,811,555 shares of the chip maker’s stock valued at $918,522,000 after purchasing an additional 6,157,853 shares during the last quarter. 64.53% of the stock is owned by hedge funds and other institutional investors.

Intel Price Performance

Shares of NASDAQ:INTC opened at $20.80 on Wednesday. The business has a fifty day moving average price of $20.47 and a 200-day moving average price of $21.10. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.31 and a quick ratio of 0.93. The company has a market capitalization of $90.73 billion, a PE ratio of -4.64 and a beta of 1.12. Intel Corporation has a 1-year low of $17.67 and a 1-year high of $37.16.

Intel (NASDAQ:INTC) last released its quarterly earnings data on Thursday, April 24th. The chip maker reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.12. The business had revenue of $12.67 billion during the quarter, compared to analyst estimates of $12.26 billion. Intel had a negative net margin of 36.19% and a negative return on equity of 3.15%. Intel’s revenue was down .4% compared to the same quarter last year. During the same period last year, the business earned $0.18 EPS. As a group, equities analysts expect that Intel Corporation will post -0.11 EPS for the current fiscal year.

Wall Street Analyst Weigh In

INTC has been the topic of several analyst reports. Benchmark reaffirmed a “hold” rating on shares of Intel in a research note on Friday, April 25th. Susquehanna decreased their price objective on shares of Intel from $24.00 to $22.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 16th. Barclays reiterated a “reduce” rating on shares of Intel in a report on Tuesday, April 22nd. JPMorgan Chase & Co. reduced their price target on Intel from $23.00 to $20.00 and set an “underweight” rating on the stock in a report on Friday, April 25th. Finally, UBS Group lowered their price target on Intel from $22.00 to $21.00 and set a “neutral” rating for the company in a research report on Friday, April 25th. Six research analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $21.57.

About Intel

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.