Whittier Trust Co. of Nevada Inc. Decreases Stake in Intel Co. (NASDAQ:INTC)

Whittier Trust Co. of Nevada Inc. lessened its stake in shares of Intel Co. (NASDAQ:INTC) by 8.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 180,722 shares of the chip maker’s stock after selling 17,611 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in Intel were worth $3,622,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. Assenagon Asset Management S.A. increased its position in shares of Intel by 264.0% in the 4th 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. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of 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 purchasing an additional 12,865,308 shares during the period. Jacobs Levy Equity Management Inc. raised its stake in shares of 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 worth $244,302,000 after purchasing an additional 7,207,785 shares during the last quarter. State Street Corp lifted its holdings in shares of Intel by 2.8% during the third quarter. State Street Corp now owns 197,958,739 shares of the chip maker’s stock worth $4,644,112,000 after purchasing an additional 5,417,753 shares during the period. Finally, Geode Capital Management LLC boosted its position 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 buying an additional 4,103,553 shares during the last quarter. Institutional investors and hedge funds own 64.53% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on INTC. Bank of America upgraded shares of Intel from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $19.00 to $25.00 in a research note on Thursday, March 13th. Needham & Company LLC reaffirmed a “hold” rating on shares of Intel in a research report on Friday, January 31st. Stifel Nicolaus decreased their price objective on Intel from $25.00 to $21.00 and set a “hold” rating for the company in a report on Friday, January 31st. Citigroup decreased their price target on Intel from $22.00 to $21.00 and set a “neutral” rating for the company in a report on Tuesday, January 21st. Finally, JPMorgan Chase & Co. dropped their price objective 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. Four investment analysts have rated the stock with a sell rating, twenty-eight have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $27.04.

Intel Price Performance

Shares of NASDAQ INTC opened at $24.26 on Friday. The firm has a 50-day simple moving average of $21.95 and a 200-day simple moving average of $21.98. The company has a quick ratio of 0.98, a current ratio of 1.33 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $105.05 billion, a price-to-earnings ratio of -5.54 and a beta of 1.02. Intel Co. has a 52 week low of $18.51 and a 52 week high of $45.41.

Intel (NASDAQ:INTC) last released its quarterly earnings data on Thursday, January 30th. The chip maker reported ($0.02) EPS 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%. On average, equities 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.