Bridges Investment Management Inc. Sells 2,408 Shares of Intel Co. (NASDAQ:INTC)

Bridges Investment Management Inc. lowered its position in shares of Intel Co. (NASDAQ:INTC) by 9.3% in the 4th quarter, Holdings Channel.com reports. The fund owned 23,586 shares of the chip maker’s stock after selling 2,408 shares during the quarter. Bridges Investment Management Inc.’s holdings in Intel were worth $473,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Quest Partners LLC increased its position in shares of Intel by 7,370.6% during the third quarter. Quest Partners LLC now owns 1,270 shares of the chip maker’s stock valued at $30,000 after acquiring an additional 1,253 shares in the last quarter. Finley Financial LLC bought a new stake in shares of Intel during the fourth quarter valued at approximately $25,000. BankPlus Trust Department purchased a new stake in Intel in the fourth quarter worth approximately $28,000. Keystone Financial Group Inc. purchased a new stake in Intel in the fourth quarter worth approximately $29,000. Finally, FSA Wealth Management LLC purchased a new stake in Intel in the third quarter worth approximately $34,000. Institutional investors own 64.53% of the company’s stock.

Intel Trading Down 4.2 %

INTC stock opened at $22.74 on Tuesday. The firm has a fifty day moving average price of $21.26 and a 200 day moving average price of $21.82. 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 $98.46 billion, a PE ratio of -5.19 and a beta of 1.08. 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 quarterly earnings data 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%. Sell-side analysts anticipate that Intel Co. will post -0.11 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Stifel Nicolaus dropped their target price on shares of Intel from $25.00 to $21.00 and set a “hold” rating on the stock in a report on Friday, January 31st. Cantor Fitzgerald raised their target price on shares of Intel from $22.00 to $29.00 and gave the stock a “neutral” rating in a report on Tuesday, February 18th. Wells Fargo & Company dropped their target price on shares of Intel from $28.00 to $25.00 and set an “equal weight” rating on the stock in a report on Friday, January 31st. UBS Group dropped their target price on shares of Intel from $26.00 to $23.00 and set a “neutral” rating on the stock in a report on Tuesday, January 21st. Finally, Barclays dropped their target price on shares of Intel from $25.00 to $23.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. Five analysts have rated the stock with a sell rating, twenty-seven have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Intel has a consensus rating of “Hold” and an average target price 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.