Modera Wealth Management LLC Reduces Stock Position in Intel Co. (NASDAQ:INTC)

Modera Wealth Management LLC cut its holdings in Intel Co. (NASDAQ:INTC) by 10.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 45,856 shares of the chip maker’s stock after selling 5,620 shares during the period. Modera Wealth Management LLC’s holdings in Intel were worth $919,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. State Street Corp grew its position in shares of Intel by 2.8% in the third quarter. State Street Corp now owns 197,958,739 shares of the chip maker’s stock valued at $4,644,112,000 after purchasing an additional 5,417,753 shares in the last quarter. Geode Capital Management LLC boosted 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 purchasing an additional 4,103,553 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Intel by 28.2% during the 3rd 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 buying an additional 12,865,308 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Intel by 7.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 31,690,418 shares of the chip maker’s stock valued at $743,457,000 after buying an additional 2,248,332 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Intel by 0.3% in the fourth quarter. Bank of New York Mellon Corp now owns 30,616,197 shares of the chip maker’s stock worth $613,855,000 after buying an additional 86,483 shares in the last quarter. Institutional investors own 64.53% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Bank of America reaffirmed an “underperform” rating and set a $21.00 price objective on shares of Intel in a research note on Tuesday, December 3rd. HSBC upgraded shares of Intel from a “reduce” rating to a “hold” rating in a research report on Tuesday, January 21st. Stifel Nicolaus lowered their price objective on Intel from $25.00 to $21.00 and set a “hold” rating on the stock in a research report on Friday, January 31st. JPMorgan Chase & Co. reduced their target price on Intel from $26.00 to $23.00 and set an “underweight” rating for the company in a research report on Friday, January 31st. Finally, Truist Financial lowered their price target on Intel from $22.00 to $21.00 and set a “hold” rating on the stock in a report on Friday, January 31st. Five equities research analysts have rated the stock with a sell rating, twenty-seven have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $26.88.

Intel Stock Down 4.2 %

Shares of NASDAQ:INTC opened at $22.74 on Tuesday. The stock’s 50-day moving average is $21.26 and its 200 day moving average is $21.82. The company has a market cap of $98.46 billion, a PE ratio of -5.19 and a beta of 1.08. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.33 and a quick ratio of 0.98. Intel Co. has a 1 year low of $18.51 and a 1 year high of $46.63.

Intel (NASDAQ:INTC) last announced its earnings results 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%. Sell-side analysts anticipate that Intel Co. will post -0.11 EPS for the current year.

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.