Rodgers Brothers Inc. Reduces Stake in Intel Co. (NASDAQ:INTC)

Rodgers Brothers Inc. decreased its stake in shares of Intel Co. (NASDAQ:INTC) by 50.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 74,882 shares of the chip maker’s stock after selling 75,405 shares during the period. Rodgers Brothers Inc.’s holdings in Intel were worth $1,501,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in Intel in the fourth quarter valued at approximately $1,246,569,000. Assenagon Asset Management S.A. increased its stake in Intel by 264.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 19,617,088 shares of the chip maker’s stock valued at $393,323,000 after buying an additional 14,227,458 shares during the period. Jacobs Levy Equity Management Inc. boosted its stake in Intel by 224.8% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 10,413,544 shares of the chip maker’s stock valued at $244,302,000 after purchasing an additional 7,207,785 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Intel by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 369,099,204 shares of the chip maker’s stock worth $7,400,439,000 after purchasing an additional 6,143,164 shares during the period. Finally, State Street Corp boosted 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 valued at $4,644,112,000 after purchasing an additional 5,417,753 shares during the period. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Wells Fargo & Company lowered their target price on Intel from $28.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Friday, January 31st. Rosenblatt Securities reaffirmed a “sell” rating and set a $20.00 price objective on shares of Intel in a report on Thursday, January 30th. Barclays lowered their price target on shares of Intel from $25.00 to $23.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. Citigroup decreased their target price on Intel from $22.00 to $21.00 and set a “neutral” rating for the company in a research note on Tuesday, January 21st. Finally, Cantor Fitzgerald lifted their target price on Intel from $22.00 to $29.00 and gave the company a “neutral” rating in a research report on Tuesday, February 18th. Four research analysts have rated the stock with a sell rating, twenty-eight have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $27.04.

Intel Trading Down 3.9 %

Intel stock opened at $22.71 on Monday. Intel Co. has a 12 month low of $18.51 and a 12 month high of $45.41. The company has a current ratio of 1.33, a quick ratio of 0.98 and a debt-to-equity ratio of 0.44. The firm has a market cap of $98.33 billion, a PE ratio of -5.18 and a beta of 1.02. The stock’s 50 day simple moving average is $22.33 and its two-hundred day simple moving average is $22.16.

Intel (NASDAQ:INTC) last announced its earnings results on Thursday, January 30th. The chip maker reported ($0.02) earnings per share (EPS) 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%. Analysts anticipate that Intel Co. will post -0.11 earnings per share for the current year.

Intel Company 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.