1620 Investment Advisors Inc. Sells 9,008 Shares of Intel Co. (NASDAQ:INTC)

1620 Investment Advisors Inc. trimmed its position in Intel Co. (NASDAQ:INTC) by 65.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 4,667 shares of the chip maker’s stock after selling 9,008 shares during the period. 1620 Investment Advisors Inc.’s holdings in Intel were worth $94,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of INTC. Assenagon Asset Management S.A. boosted its position in Intel by 264.0% in 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 last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position 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 purchasing an additional 12,865,308 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its position in shares of Intel by 224.8% in 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 purchasing an additional 7,207,785 shares during the last quarter. 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 worth $4,644,112,000 after purchasing an additional 5,417,753 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of 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 during the last quarter. 64.53% of the stock is currently owned by institutional investors.

Intel Price Performance

NASDAQ:INTC opened at $24.26 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.98 and a current ratio of 1.33. The stock’s 50-day simple moving average is $21.95 and its 200 day simple moving average is $21.98. The company has a market cap of $105.05 billion, a P/E ratio of -5.54 and a beta of 1.02. Intel Co. has a 52-week low of $18.51 and a 52-week high of $45.41.

Intel (NASDAQ:INTC) last released its 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 net margin of 35.32% and a negative return on equity of 3.27%. As a group, sell-side analysts forecast that Intel Co. will post -0.11 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on INTC shares. Benchmark restated a “hold” rating on shares of Intel in a research report on Friday, January 31st. Needham & Company LLC restated a “hold” rating on shares of Intel in a research report on Friday, January 31st. Bank of America upgraded Intel from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $19.00 to $25.00 in a research report on Thursday, March 13th. Roth Mkm reduced their target price on Intel from $25.00 to $20.00 and set a “neutral” rating on the stock in a report on Friday, January 31st. Finally, Barclays reduced their target price on Intel from $25.00 to $23.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. Four investment analysts have rated the stock with a sell rating, twenty-eight have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Intel currently has a consensus rating of “Hold” and a consensus target price of $27.04.

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.