Aspen Investment Management Inc Trims Stake in Intel Co. (NASDAQ:INTC)

Aspen Investment Management Inc lowered its holdings in Intel Co. (NASDAQ:INTC) by 7.1% during the 4th quarter, HoldingsChannel.com reports. The fund owned 18,734 shares of the chip maker’s stock after selling 1,435 shares during the quarter. Aspen Investment Management Inc’s holdings in Intel were worth $376,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Assenagon Asset Management S.A. raised its stake in Intel by 264.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 19,617,088 shares of the chip maker’s stock valued at $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 increased its holdings in shares of 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 buying an additional 12,865,308 shares during the last quarter. Van ECK Associates Corp increased its holdings in shares of 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 buying an additional 9,422,136 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in shares of 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 worth $244,302,000 after acquiring an additional 7,207,785 shares during the last quarter. Finally, State Street Corp grew its position in Intel by 2.8% in the third quarter. State Street Corp now owns 197,958,739 shares of the chip maker’s stock worth $4,644,112,000 after acquiring an additional 5,417,753 shares in the last quarter. Institutional investors own 64.53% of the company’s stock.

Intel Stock Up 1.4 %

Shares of NASDAQ INTC opened at $26.09 on Friday. The firm has a fifty day simple moving average of $20.64 and a two-hundred day simple moving average of $21.59. The firm has a market capitalization of $112.97 billion, a PE ratio of -5.96 and a beta of 1.08. 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 Co. has a 12 month low of $18.51 and a 12 month high of $46.63.

Intel (NASDAQ:INTC) last released 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%. Equities analysts expect that Intel Co. will post -0.11 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on INTC shares. HSBC upgraded Intel from a “reduce” rating to a “hold” rating in a research report on Tuesday, January 21st. Truist Financial dropped their target price on Intel from $22.00 to $21.00 and set a “hold” rating for the company in a research report on Friday, January 31st. Barclays cut their target price on Intel from $25.00 to $23.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. Bank of America reiterated an “underperform” rating and set a $21.00 price target on shares of Intel in a research report on Tuesday, December 3rd. Finally, Needham & Company LLC restated a “hold” rating on shares of Intel in a report on Friday, January 31st. Five research 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’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $26.88.

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.