Destination Wealth Management Sells 8,185 Shares of Intel Co. (NASDAQ:INTC)

Destination Wealth Management cut its stake in Intel Co. (NASDAQ:INTC) by 35.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,032 shares of the chip maker’s stock after selling 8,185 shares during the period. Destination Wealth Management’s holdings in Intel were worth $301,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Principal Financial Group Inc. raised its stake in shares of Intel by 4.4% during the third 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. Keynote Financial Services LLC raised its stake in shares of Intel by 13.2% during the third quarter. Keynote Financial Services LLC now owns 70,430 shares of the chip maker’s stock worth $1,652,000 after buying an additional 8,239 shares during the last quarter. Beacon Harbor Wealth Advisors Inc. raised its stake in shares of Intel by 11.0% during the third quarter. Beacon Harbor Wealth Advisors Inc. now owns 10,084 shares of the chip maker’s stock worth $237,000 after buying an additional 1,000 shares during the last quarter. Philip James Wealth Mangement LLC bought a new stake in shares of Intel during the third quarter worth approximately $28,321,000. Finally, Capital Performance Advisors LLP bought a new stake in shares of Intel during the third quarter worth approximately $36,000. 64.53% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on INTC shares. UBS Group dropped their price target on shares of Intel from $26.00 to $23.00 and set a “neutral” rating for the company in a research note on Tuesday, January 21st. JPMorgan Chase & Co. dropped their price target on shares of Intel from $26.00 to $23.00 and set an “underweight” rating for the company in a research note on Friday, January 31st. Benchmark reaffirmed a “hold” rating on shares of Intel in a research note on Friday, January 31st. Hsbc Global Res raised shares of Intel from a “moderate sell” rating to a “hold” rating in a research note on Tuesday, January 21st. Finally, Roth Mkm lowered their target price on shares of Intel from $25.00 to $20.00 and set a “neutral” rating for the company in a research note on Friday, January 31st. 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. Based on data from MarketBeat, Intel currently has a consensus rating of “Hold” and a consensus target price of $26.88.

Intel Stock Performance

Shares of INTC opened at $20.64 on Friday. Intel Co. has a 12 month low of $18.51 and a 12 month high of $46.63. The firm has a fifty day simple moving average of $21.30 and a 200 day simple moving average of $21.80. The stock has a market capitalization of $89.37 billion, a price-to-earnings ratio of -4.71 and a beta of 1.02. 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 (NASDAQ:INTC) last announced its 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%. Research analysts forecast that Intel Co. will post -0.11 EPS for the current fiscal year.

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.