Meiji Yasuda Asset Management Co Ltd. Lowers Stake in Intel Co. (NASDAQ:INTC)

Meiji Yasuda Asset Management Co Ltd. trimmed its holdings in Intel Co. (NASDAQ:INTC) by 15.6% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 60,808 shares of the chip maker’s stock after selling 11,254 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Intel were worth $1,219,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. Geode Capital Management LLC raised its stake in Intel by 4.6% during the 3rd quarter. Geode Capital Management LLC now owns 92,510,098 shares of the chip maker’s stock valued at $2,162,891,000 after acquiring an additional 4,103,553 shares during the last quarter. Relyea Zuckerberg Hanson LLC increased its holdings in shares of Intel by 211.6% in the fourth quarter. Relyea Zuckerberg Hanson LLC now owns 28,898 shares of the chip maker’s stock valued at $579,000 after purchasing an additional 19,625 shares during the period. Principal Financial Group Inc. raised its stake in shares of Intel by 4.4% during the third quarter. Principal Financial Group Inc. now owns 4,827,123 shares of the chip maker’s stock worth $113,244,000 after purchasing an additional 204,200 shares during the last quarter. Empirical Asset Management LLC acquired a new stake in shares of Intel during the fourth quarter worth $276,000. Finally, InvesTrust purchased a new position in Intel in the 4th quarter valued at $3,696,000. Institutional investors and hedge funds own 64.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on INTC. Stifel Nicolaus reduced their target price on shares of Intel from $25.00 to $21.00 and set a “hold” rating for the company in a research note on Friday, January 31st. Rosenblatt Securities restated a “sell” rating and issued a $20.00 price objective on shares of Intel in a research report on Thursday, January 30th. Cantor Fitzgerald boosted their target price on Intel from $22.00 to $29.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 18th. Needham & Company LLC reissued a “hold” rating on shares of Intel in a report on Friday, January 31st. Finally, Citigroup decreased their price target on Intel from $22.00 to $21.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 21st. Four research analysts have rated the stock with a sell rating, twenty-eight have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Intel has an average rating of “Hold” and a consensus price target of $27.04.

Intel Stock Down 3.2 %

INTC stock opened at $23.42 on Thursday. Intel Co. has a one year low of $18.51 and a one year high of $45.41. The stock has a market capitalization of $101.41 billion, a P/E ratio of -5.35 and a beta of 1.02. The company has a 50 day moving average price of $22.22 and a two-hundred day moving average price of $22.09. 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 released its earnings results on Thursday, January 30th. The chip maker reported ($0.02) EPS for the quarter, missing the consensus estimate 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 expect that Intel Co. will post -0.11 EPS for the current year.

Intel Company 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.