Washington Trust Advisors Inc. Decreases Stake in Intel Co. (NASDAQ:INTC)

Washington Trust Advisors Inc. reduced its stake in Intel Co. (NASDAQ:INTC) by 20.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,547 shares of the chip maker’s stock after selling 2,526 shares during the quarter. Washington Trust Advisors Inc.’s holdings in Intel were worth $191,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Geode Capital Management LLC raised its position 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 worth $2,162,891,000 after buying an additional 4,103,553 shares during the last quarter. Relyea Zuckerberg Hanson LLC raised its position in 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 during the last quarter. Principal Financial Group Inc. raised its position in 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 during the last quarter. Empirical Asset Management LLC acquired a new stake in shares of Intel during the 4th quarter worth approximately $276,000. Finally, Swiss National Bank grew 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 purchasing an additional 31,800 shares during the period. 64.53% of the stock is owned by hedge funds and other institutional investors.

Intel Stock Down 0.3 %

NASDAQ INTC opened at $20.75 on Friday. Intel Co. has a 52 week low of $18.51 and a 52 week high of $46.63. 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 business’s fifty day simple moving average is $21.29 and its 200-day simple moving average is $21.81. The firm has a market cap of $89.85 billion, a PE ratio of -4.74 and a beta of 1.02.

Intel (NASDAQ:INTC) last posted its quarterly 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 return on equity of 3.27% and a negative net margin of 35.32%. As a group, equities analysts anticipate that Intel Co. will post -0.11 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on INTC. Wells Fargo & Company dropped their price objective on shares of Intel from $28.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Friday, January 31st. UBS Group dropped their price objective on shares of Intel from $26.00 to $23.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 21st. Needham & Company LLC reaffirmed a “hold” rating on shares of Intel in a research note on Friday, January 31st. Citigroup dropped their price objective on shares of Intel from $22.00 to $21.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 21st. Finally, HSBC raised shares of Intel from a “reduce” rating to a “hold” rating in a research note on Tuesday, January 21st. Five investment analysts have rated the stock with a sell rating, twenty-seven have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock 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.