Cidel Asset Management Inc. Buys 14,205 Shares of Intel Co. (NASDAQ:INTC)

Cidel Asset Management Inc. lifted its stake in shares of Intel Co. (NASDAQ:INTC) by 18.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 90,923 shares of the chip maker’s stock after purchasing an additional 14,205 shares during the quarter. Cidel Asset Management Inc.’s holdings in Intel were worth $1,823,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. State Street Corp increased 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 worth $4,644,112,000 after buying an additional 5,417,753 shares in the last quarter. Geode Capital Management LLC increased its holdings in Intel by 4.6% in the 3rd quarter. Geode Capital Management LLC now owns 92,510,098 shares of the chip maker’s stock worth $2,162,891,000 after purchasing an additional 4,103,553 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Intel by 28.2% during the third 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 valued at $1,371,692,000 after purchasing an additional 12,865,308 shares in the last quarter. Van ECK Associates Corp grew its holdings in shares of Intel by 27.2% during the third 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 during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Intel by 7.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 31,690,418 shares of the chip maker’s stock valued at $743,457,000 after buying an additional 2,248,332 shares during the period. 64.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on INTC. Roth Mkm reduced their target price on shares of Intel from $25.00 to $20.00 and set a “neutral” rating on the stock in a report on Friday, January 31st. Truist Financial dropped their target price on shares of Intel from $22.00 to $21.00 and set a “hold” rating on the stock in a research report on Friday, January 31st. Cantor Fitzgerald reissued a “neutral” rating and issued a $22.00 price objective on shares of Intel in a research note on Friday, January 31st. Rosenblatt Securities restated a “sell” rating and issued a $20.00 target price on shares of Intel in a report on Thursday, January 30th. Finally, Bank of America restated an “underperform” rating and set a $21.00 price objective on shares of Intel in a research note on Tuesday, December 3rd. Five research 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 currently has a consensus rating of “Hold” and an average price target of $26.60.

Intel Trading Down 1.4 %

Shares of INTC opened at $19.10 on Friday. Intel Co. has a fifty-two week low of $18.51 and a fifty-two week high of $46.63. The firm has a market cap of $82.38 billion, a price-to-earnings ratio of -4.36, a PEG ratio of 9.49 and a beta of 1.08. The firm has a 50 day moving average price of $20.41 and a 200-day moving average price of $22.10. 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 posted its quarterly 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%. As a group, equities research analysts forecast that Intel Co. will post 0.19 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.