Kanawha Capital Management LLC Sells 32,803 Shares of Intel Co. (NASDAQ:INTC)

Kanawha Capital Management LLC lessened its holdings in shares of Intel Co. (NASDAQ:INTC) by 26.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 90,362 shares of the chip maker’s stock after selling 32,803 shares during the period. Kanawha Capital Management LLC’s holdings in Intel were worth $1,812,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Assenagon Asset Management S.A. boosted its stake in 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 in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in 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 in the last quarter. Van ECK Associates Corp boosted its stake in 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 in the last quarter. Jacobs Levy Equity Management Inc. raised its position in 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 buying an additional 7,207,785 shares during the last quarter. Finally, State Street Corp raised its position in 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 buying an additional 5,417,753 shares during the last quarter. Institutional investors own 64.53% of the company’s stock.

Intel Price Performance

Shares of INTC opened at $24.13 on Friday. The business has a fifty day moving average of $20.21 and a 200 day moving average of $21.71. Intel Co. has a 52-week low of $18.51 and a 52-week high of $46.63. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.98 and a current ratio of 1.33.

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%. On average, research analysts predict that Intel Co. will post -0.11 EPS for the current fiscal year.

Analyst Ratings Changes

INTC has been the subject of a number of recent analyst reports. Mizuho decreased their target price on Intel from $23.00 to $21.00 and set a “neutral” rating for the company in a research report on Friday, January 10th. Stifel Nicolaus decreased their target price on Intel from $25.00 to $21.00 and set a “hold” rating for the company in a research report on Friday, January 31st. Benchmark reissued a “hold” rating on shares of Intel in a research report on Friday, January 31st. Wells Fargo & Company reduced their price target on shares of Intel from $28.00 to $25.00 and set an “equal weight” rating for the company in a research report on Friday, January 31st. Finally, UBS Group reduced their price target on shares of Intel from $26.00 to $23.00 and set a “neutral” rating for the company in a research report on Tuesday, January 21st. Five 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. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $26.60.

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.