Fifth Third Bancorp Reduces Holdings in Intel Co. (NASDAQ:INTC)

Fifth Third Bancorp reduced its stake in Intel Co. (NASDAQ:INTC) by 30.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 662,388 shares of the chip maker’s stock after selling 287,125 shares during the quarter. Fifth Third Bancorp’s holdings in Intel were worth $13,281,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of INTC. Finley Financial LLC acquired a new stake in shares of Intel during the fourth quarter worth $25,000. Quest Partners LLC lifted its position in Intel by 7,370.6% during the 3rd quarter. Quest Partners LLC now owns 1,270 shares of the chip maker’s stock worth $30,000 after acquiring an additional 1,253 shares during the period. West Financial Advisors LLC purchased a new stake in Intel during the 4th quarter valued at about $31,000. Groupama Asset Managment raised its stake in shares of Intel by 6.3% in the third quarter. Groupama Asset Managment now owns 137,181 shares of the chip maker’s stock worth $32,000 after purchasing an additional 8,084 shares during the last quarter. Finally, Sawyer & Company Inc acquired a new stake in shares of Intel during the fourth quarter worth about $32,000. 64.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $26.00, for a total value of $650,000.00. Following the transaction, the executive vice president now directly owns 273,258 shares in the company, valued at approximately $7,104,708. This represents a 8.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.04% of the company’s stock.

Intel Stock Down 3.4 %

Shares of NASDAQ INTC opened at $20.83 on Friday. The company has a current ratio of 1.31, a quick ratio of 0.97 and a debt-to-equity ratio of 0.44. The company has a 50-day moving average of $21.23 and a 200 day moving average of $23.02. Intel Co. has a 12-month low of $18.51 and a 12-month high of $50.30. The stock has a market cap of $89.84 billion, a PE ratio of -5.60, a P/E/G ratio of 9.72 and a beta of 1.07.

Intel (NASDAQ:INTC) last posted its quarterly earnings results on Thursday, October 31st. The chip maker reported ($0.46) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.44). The company had revenue of $13.30 billion during the quarter, compared to analysts’ expectations of $13.02 billion. Intel had a negative net margin of 29.42% and a negative return on equity of 1.71%. Intel’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same quarter last year, the company earned $0.28 earnings per share. As a group, sell-side analysts predict that Intel Co. will post -0.87 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on INTC shares. Needham & Company LLC reiterated a “hold” rating on shares of Intel in a report on Friday, November 1st. Barclays lowered their price target 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. Rosenblatt Securities reiterated a “sell” rating and set a $17.00 price objective on shares of Intel in a research note on Tuesday, October 29th. Deutsche Bank Aktiengesellschaft lowered their target price on Intel from $27.00 to $25.00 and set a “hold” rating on the stock in a research note on Thursday, October 3rd. Finally, Truist Financial lifted their price target on Intel from $25.00 to $26.00 and gave the company a “hold” rating in a research report on Friday, November 1st. Five analysts have rated the stock with a sell rating, twenty-seven have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, Intel currently has a consensus rating of “Hold” and an average price target of $28.81.

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.