Sumitomo Mitsui DS Asset Management Company Ltd Sells 161,406 Shares of Intel Co. (NASDAQ:INTC)

Sumitomo Mitsui DS Asset Management Company Ltd reduced its position in shares of Intel Co. (NASDAQ:INTC) by 18.8% during the 4th quarter, HoldingsChannel.com reports. The fund owned 696,968 shares of the chip maker’s stock after selling 161,406 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Intel were worth $13,974,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Brookstone Capital Management raised its stake in Intel by 18.9% in the third quarter. Brookstone Capital Management now owns 52,075 shares of the chip maker’s stock valued at $1,222,000 after buying an additional 8,282 shares during the period. Private Advisory Group LLC acquired a new position in shares of Intel during the 3rd quarter worth approximately $8,045,000. Clarius Group LLC raised its stake in Intel by 62.4% in the 3rd quarter. Clarius Group LLC now owns 32,767 shares of the chip maker’s stock valued at $769,000 after acquiring an additional 12,592 shares during the period. BWM Planning LLC acquired a new stake in Intel during the 3rd quarter valued at $407,000. Finally, JGP Wealth Management LLC increased its holdings in shares of Intel by 7.8% in the third quarter. JGP Wealth Management LLC now owns 23,155 shares of the chip maker’s stock valued at $543,000 after purchasing an additional 1,674 shares during the last quarter. Institutional investors and hedge funds own 64.53% of the company’s stock.

Analyst Upgrades and Downgrades

INTC has been the subject of a number of research reports. UBS Group cut their target price on shares of Intel from $26.00 to $23.00 and set a “neutral” rating for the company in a research note on Tuesday, January 21st. Stifel Nicolaus decreased their target price on Intel from $25.00 to $21.00 and set a “hold” rating on the stock in a research report on Friday, January 31st. Needham & Company LLC reiterated a “hold” rating on shares of Intel in a research note on Friday, January 31st. Northland Securities decreased their price objective on Intel from $42.00 to $28.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Finally, Truist Financial dropped their target price on Intel from $22.00 to $21.00 and set a “hold” rating for the company in a report on Friday, January 31st. Five analysts have rated the stock with a sell rating, twenty-seven have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $26.60.

Intel Price Performance

Shares of INTC opened at $19.10 on Friday. The business has a 50-day moving average of $20.41 and a 200-day moving average of $22.10. Intel Co. has a 1 year low of $18.51 and a 1 year high of $46.63. The company has a market capitalization of $82.38 billion, a price-to-earnings ratio of -4.36, a price-to-earnings-growth ratio of 9.49 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 (NASDAQ:INTC) last issued its quarterly earnings results on Thursday, January 30th. The chip maker reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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, equities research analysts anticipate that Intel Co. will post 0.19 earnings per share 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.