Truvestments Capital LLC Cuts Holdings in Intel Co. (NASDAQ:INTC)

Truvestments Capital LLC trimmed its holdings in shares of Intel Co. (NASDAQ:INTC) by 4.8% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 13,011 shares of the chip maker’s stock after selling 659 shares during the period. Truvestments Capital LLC’s holdings in Intel were worth $261,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Geode Capital Management LLC raised its stake in shares of Intel by 4.6% during 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 buying an additional 4,103,553 shares in the last quarter. Relyea Zuckerberg Hanson LLC raised its stake in shares of Intel by 211.6% during the 4th quarter. Relyea Zuckerberg Hanson LLC now owns 28,898 shares of the chip maker’s stock worth $579,000 after buying an additional 19,625 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Intel by 4.4% during the 3rd quarter. Principal Financial Group Inc. now owns 4,827,123 shares of the chip maker’s stock worth $113,244,000 after buying an additional 204,200 shares in the last quarter. Empirical Asset Management LLC purchased a new position in shares of Intel during the 4th quarter worth approximately $276,000. Finally, Swiss National Bank raised its stake in shares of Intel by 0.3% during the 3rd quarter. Swiss National Bank now owns 12,635,400 shares of the chip maker’s stock worth $296,426,000 after buying an additional 31,800 shares in the last quarter. 64.53% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

INTC has been the subject of several research analyst reports. Truist Financial dropped their price objective on Intel from $22.00 to $21.00 and set a “hold” rating for the company in a research note on Friday, January 31st. Citigroup dropped their price objective on Intel from $22.00 to $21.00 and set a “neutral” rating for the company in a research note on Tuesday, January 21st. Bank of America reaffirmed an “underperform” rating and issued a $21.00 price objective on shares of Intel in a research note on Tuesday, December 3rd. Needham & Company LLC reaffirmed a “hold” rating on shares of Intel in a research note on Friday, January 31st. Finally, Cantor Fitzgerald raised their price objective on Intel from $22.00 to $29.00 and gave the company a “neutral” rating in a research note on Tuesday, February 18th. Five investment 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. Based on data from MarketBeat.com, Intel presently has an average rating of “Hold” and a consensus target price of $26.88.

Intel Price Performance

INTC stock opened at $20.68 on Thursday. Intel Co. has a 52-week low of $18.51 and a 52-week high of $45.41. The stock has a market capitalization of $89.54 billion, a price-to-earnings ratio of -4.72 and a beta of 1.02. The company has a quick ratio of 0.98, a current ratio of 1.33 and a debt-to-equity ratio of 0.44. The stock’s fifty day simple moving average is $21.31 and its 200-day simple moving average is $21.80.

Intel (NASDAQ:INTC) last issued its earnings results on Thursday, January 30th. The chip maker reported ($0.02) earnings per share 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%. Equities research analysts expect that Intel Co. will post -0.11 EPS for the current year.

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.