Geode Capital Management LLC Purchases 2,978,346 Shares of Intel Co. (NASDAQ:INTC)

Geode Capital Management LLC raised its position in shares of Intel Co. (NASDAQ:INTC) by 3.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 95,488,444 shares of the chip maker’s stock after buying an additional 2,978,346 shares during the quarter. Geode Capital Management LLC owned about 2.21% of Intel worth $1,909,761,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in 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 acquiring an additional 6,143,164 shares in the last quarter. State Street Corp lifted its holdings in shares of Intel by 2.8% during 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 during the last quarter. Norges Bank purchased a new position in shares of Intel during the fourth quarter valued at approximately $1,246,569,000. Charles Schwab Investment Management Inc. boosted its position in shares of Intel by 7.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 33,938,760 shares of the chip maker’s stock worth $680,472,000 after purchasing an additional 2,248,342 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Intel by 0.3% in the 4th quarter. Bank of New York Mellon Corp now owns 30,616,197 shares of the chip maker’s stock worth $613,855,000 after purchasing an additional 86,483 shares in the last quarter. Institutional investors own 64.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on INTC. Hsbc Global Res raised Intel from a “moderate sell” rating to a “hold” rating in a research report on Tuesday, January 21st. Bank of America raised Intel from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $19.00 to $25.00 in a research note on Thursday, March 13th. Barclays lowered their price target on Intel from $25.00 to $23.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. Cantor Fitzgerald increased their price objective on shares of Intel from $22.00 to $29.00 and gave the company a “neutral” rating in a research report on Tuesday, February 18th. Finally, Stifel Nicolaus decreased their target price on shares of Intel from $25.00 to $21.00 and set a “hold” rating for the company in a report on Friday, January 31st. Four equities research analysts have rated the stock with a sell rating, twenty-eight have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $27.04.

Intel Trading Down 2.9 %

Intel stock opened at $22.05 on Wednesday. Intel Co. has a 12-month low of $18.51 and a 12-month high of $44.08. The firm has a market capitalization of $95.48 billion, a price-to-earnings ratio of -5.03 and a beta of 1.02. The firm has a 50 day moving average of $22.36 and a 200 day moving average of $22.20. The company has a current ratio of 1.33, a quick ratio of 0.98 and a debt-to-equity ratio of 0.44.

Intel (NASDAQ:INTC) last announced its quarterly earnings data 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, research analysts predict that Intel Co. will post -0.11 earnings per share for the current year.

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.