Mirae Asset Global Investments Co. Ltd. Trims Stock Holdings in Intel Co. (NASDAQ:INTC)

Mirae Asset Global Investments Co. Ltd. cut its stake in shares of Intel Co. (NASDAQ:INTC) by 18.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,918,028 shares of the chip maker’s stock after selling 880,737 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Intel were worth $79,480,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Quest Partners LLC raised its position in Intel by 7,370.6% in the third quarter. Quest Partners LLC now owns 1,270 shares of the chip maker’s stock valued at $30,000 after purchasing an additional 1,253 shares during the period. Finley Financial LLC acquired a new stake in shares of Intel in the fourth quarter valued at $25,000. FSA Wealth Management LLC purchased a new stake in shares of Intel in the 3rd quarter valued at $34,000. Capital Performance Advisors LLP purchased a new position in Intel during the 3rd quarter valued at about $36,000. Finally, West Financial Advisors LLC acquired a new position in Intel in the 4th quarter valued at about $31,000. 64.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Stifel Nicolaus reduced their price target on shares of Intel from $25.00 to $21.00 and set a “hold” rating on the stock in a research report on Friday, January 31st. Roth Mkm dropped their price target on shares of Intel from $25.00 to $20.00 and set a “neutral” rating for the company in a research note on Friday, January 31st. Robert W. Baird increased their price objective on Intel from $20.00 to $25.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Citigroup lowered 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, Northland Securities reduced their price target on Intel from $42.00 to $28.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Five equities research analysts have rated the stock with a sell rating, twenty-seven have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, Intel presently has a consensus rating of “Hold” and an average target price of $26.60.

Insider Activity at Intel

In other Intel news, EVP Michelle Johnston Holthaus sold 25,000 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $26.00, for a total transaction of $650,000.00. Following the completion of the transaction, the executive vice president now owns 273,258 shares in the company, valued at approximately $7,104,708. This represents a 8.38 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.04% of the stock is currently owned by insiders.

Intel Stock Down 0.5 %

INTC stock opened at $19.29 on Wednesday. The business has a 50 day simple moving average of $20.67 and a 200-day simple moving average of $22.23. Intel Co. has a twelve month low of $18.51 and a twelve month high of $46.63. 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 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 analysts expect that Intel Co. will post 0.19 EPS 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.