Meeder Asset Management Inc. Sells 31,381 Shares of Intel Co. (NASDAQ:INTC)

Meeder Asset Management Inc. lessened its holdings in Intel Co. (NASDAQ:INTC) by 94.8% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,715 shares of the chip maker’s stock after selling 31,381 shares during the quarter. Meeder Asset Management Inc.’s holdings in Intel were worth $34,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of INTC. Geode Capital Management LLC increased its stake in Intel by 4.6% in the 3rd quarter. Geode Capital Management LLC now owns 92,510,098 shares of the chip maker’s stock worth $2,162,891,000 after buying an additional 4,103,553 shares during the period. Relyea Zuckerberg Hanson LLC increased its position in shares of Intel by 211.6% during the fourth quarter. Relyea Zuckerberg Hanson LLC now owns 28,898 shares of the chip maker’s stock worth $579,000 after acquiring an additional 19,625 shares during the period. Principal Financial Group Inc. raised its stake in shares of Intel by 4.4% during the third quarter. Principal Financial Group Inc. now owns 4,827,123 shares of the chip maker’s stock valued at $113,244,000 after acquiring an additional 204,200 shares in the last quarter. Empirical Asset Management LLC purchased a new stake in shares of Intel in the fourth quarter valued at approximately $276,000. Finally, InvesTrust bought a new position in Intel in the fourth quarter worth approximately $3,696,000. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Intel Stock Performance

Shares of NASDAQ INTC opened at $21.98 on Thursday. The stock has a market cap of $95.85 billion, a price-to-earnings ratio of -5.02 and a beta of 1.13. Intel Co. has a 12 month low of $18.51 and a 12 month high of $41.65. The company has a 50 day simple moving average of $22.36 and a two-hundred day simple moving average of $22.20. 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 announced its quarterly earnings results 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 return on equity of 3.27% and a negative net margin of 35.32%. As a group, analysts predict that Intel Co. will post -0.11 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have weighed in on INTC. Barclays lowered their target price on Intel from $25.00 to $23.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. Mizuho lowered their price objective on shares of Intel from $23.00 to $21.00 and set a “neutral” rating for the company in a research note on Friday, January 10th. Rosenblatt Securities reissued a “sell” rating and set a $20.00 target price on shares of Intel in a research report on Thursday, January 30th. Needham & Company LLC reaffirmed a “hold” rating on shares of Intel in a research report on Friday, January 31st. Finally, Wells Fargo & Company cut their price objective on shares of Intel from $28.00 to $25.00 and set an “equal weight” rating on the stock in a report on Friday, January 31st. Four research analysts have rated the stock with a sell rating, twenty-eight have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $27.04.

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.