First Citizens Bank & Trust Co. Sells 3,338 Shares of Intel Co. (NASDAQ:INTC)

First Citizens Bank & Trust Co. lessened its holdings in shares of Intel Co. (NASDAQ:INTC) by 4.8% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 65,909 shares of the chip maker’s stock after selling 3,338 shares during the period. First Citizens Bank & Trust Co.’s holdings in Intel were worth $1,321,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of INTC. Assenagon Asset Management S.A. raised 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 worth $393,323,000 after purchasing an additional 14,227,458 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Intel by 28.2% in 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 worth $1,371,692,000 after purchasing an additional 12,865,308 shares during the last quarter. Van ECK Associates Corp raised its position in shares of Intel by 27.2% in the 3rd quarter. Van ECK Associates Corp now owns 44,013,936 shares of the chip maker’s stock worth $967,426,000 after purchasing an additional 9,422,136 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its position in shares of Intel by 224.8% in the 3rd 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. Finally, State Street Corp raised its position in shares of Intel by 2.8% in the 3rd 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 last quarter. Institutional investors own 64.53% of the company’s stock.

Intel Trading Down 3.4 %

Shares of NASDAQ INTC opened at $20.83 on Monday. The business’s 50 day moving average is $21.23 and its two-hundred day moving average is $22.93. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.31 and a quick ratio of 0.97. Intel Co. has a 1-year low of $18.51 and a 1-year high of $50.30. The stock has a market capitalization of $89.84 billion, a P/E ratio of -5.60, a PEG ratio of 9.72 and a beta of 1.07.

Intel (NASDAQ:INTC) last announced its earnings results on Thursday, October 31st. The chip maker reported ($0.46) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.44). Intel had a negative net margin of 29.42% and a negative return on equity of 1.71%. The business had revenue of $13.30 billion for the quarter, compared to analysts’ expectations of $13.02 billion. During the same quarter last year, the firm earned $0.28 EPS. The firm’s quarterly revenue was down 6.3% on a year-over-year basis. As a group, research analysts expect that Intel Co. will post -0.87 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Stifel Nicolaus reaffirmed a “hold” rating and issued a $25.00 price target (down previously from $28.00) on shares of Intel in a research report on Friday, October 25th. Citigroup decreased their target price on Intel from $22.00 to $21.00 and set a “neutral” rating for the company in a research report on Tuesday, January 21st. Robert W. Baird boosted their target price on Intel from $20.00 to $25.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Truist Financial boosted their target price on Intel from $25.00 to $26.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. Finally, The Goldman Sachs Group decreased their target price on Intel from $22.00 to $21.00 and set a “sell” rating for the company in a research report on Thursday, October 17th. Five research analysts have rated the stock with a sell rating, twenty-seven have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $27.88.

Insider Buying and Selling at Intel

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $26.00, for a total value of $650,000.00. Following the completion of the sale, the executive vice president now owns 273,258 shares in the company, valued at approximately $7,104,708. The trade was a 8.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.04% of the company’s stock.

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.