Summit Financial LLC Has $1.06 Million Position in Intel Co. (NASDAQ:INTC)

Summit Financial LLC increased its holdings in shares of Intel Co. (NASDAQ:INTC) by 8.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 52,902 shares of the chip maker’s stock after buying an additional 4,055 shares during the period. Summit Financial LLC’s holdings in Intel were worth $1,061,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in Intel in the fourth quarter valued at $1,246,569,000. Assenagon Asset Management S.A. grew its position in shares of 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. Jacobs Levy Equity Management Inc. increased its stake in shares of Intel by 224.8% in the third quarter. Jacobs Levy Equity Management Inc. now owns 10,413,544 shares of the chip maker’s stock valued at $244,302,000 after buying an additional 7,207,785 shares during the period. Vanguard Group Inc. raised its position in shares of Intel by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 369,099,204 shares of the chip maker’s stock worth $7,400,439,000 after acquiring an additional 6,143,164 shares during the last quarter. Finally, State Street Corp lifted its stake in shares of Intel by 2.8% in the third quarter. State Street Corp now owns 197,958,739 shares of the chip maker’s stock worth $4,644,112,000 after acquiring an additional 5,417,753 shares during the period. 64.53% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Cantor Fitzgerald raised their price target 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. Citigroup decreased their price target on Intel from $22.00 to $21.00 and set a “neutral” rating for the company in a report on Tuesday, January 21st. Needham & Company LLC restated a “hold” rating on shares of Intel in a research report on Friday, January 31st. Finally, Roth Mkm lowered their target price on Intel from $25.00 to $20.00 and set a “neutral” rating for the company in a report on Friday, January 31st. Four investment analysts have rated the stock with a sell rating, twenty-eight have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $27.04.

Intel Price Performance

Shares of NASDAQ INTC opened at $22.05 on Wednesday. The company has a market capitalization of $95.48 billion, a PE ratio of -5.03 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 50 day moving average price is $22.36 and its 200-day moving average price is $22.20. Intel Co. has a twelve month low of $18.51 and a twelve month high of $44.08.

Intel (NASDAQ:INTC) last posted 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 return on equity of 3.27% and a negative net margin of 35.32%. On average, equities analysts anticipate 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.