Spinnaker Trust Decreases Stake in Intel Co. (NASDAQ:INTC)

Spinnaker Trust lowered its position in Intel Co. (NASDAQ:INTC) by 3.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 51,538 shares of the chip maker’s stock after selling 1,588 shares during the quarter. Spinnaker Trust’s holdings in Intel were worth $1,033,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the company. Asset Planning Inc purchased a new position in Intel during the 4th quarter valued at about $36,000. V Square Quantitative Management LLC grew its holdings in Intel by 1.7% during the 4th quarter. V Square Quantitative Management LLC now owns 90,287 shares of the chip maker’s stock valued at $1,810,000 after buying an additional 1,522 shares in the last quarter. First Merchants Corp grew its holdings in Intel by 79.4% during the 4th quarter. First Merchants Corp now owns 19,778 shares of the chip maker’s stock valued at $397,000 after buying an additional 8,754 shares in the last quarter. Littlejohn Financial Services Inc. purchased a new position in Intel during the 4th quarter valued at about $3,199,000. Finally, Compagnie Lombard Odier SCmA grew its holdings in shares of Intel by 1.3% during the fourth quarter. Compagnie Lombard Odier SCmA now owns 473,422 shares of the chip maker’s stock worth $9,492,000 after purchasing an additional 6,155 shares in the last quarter. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Intel Stock Performance

Shares of INTC stock opened at $23.60 on Friday. 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 fifty-two week low of $18.51 and a fifty-two week high of $46.63. The stock has a 50 day moving average price of $20.28 and a two-hundred day moving average price of $21.73.

Intel (NASDAQ:INTC) last announced its quarterly earnings data on Thursday, January 30th. The chip maker reported ($0.02) earnings per share 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, research analysts forecast that Intel Co. will post -0.11 earnings per share for the current year.

Analyst Ratings Changes

INTC has been the subject of several recent analyst reports. Wells Fargo & Company cut their price objective on Intel from $28.00 to $25.00 and set an “equal weight” rating for the company in a report on Friday, January 31st. Hsbc Global Res raised Intel from a “moderate sell” rating to a “hold” rating in a report on Tuesday, January 21st. Robert W. Baird boosted their price objective on Intel from $20.00 to $25.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. JPMorgan Chase & Co. cut their price objective on Intel from $26.00 to $23.00 and set an “underweight” rating for the company in a report on Friday, January 31st. Finally, Benchmark reissued a “hold” rating on shares of Intel in a report on Friday, January 31st. Five 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. According to MarketBeat.com, Intel currently has an average rating of “Hold” and a consensus price target of $26.60.

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.