SouthState Corp Sells 2,281 Shares of Intel Co. (NASDAQ:INTC)

SouthState Corp lessened its stake in Intel Co. (NASDAQ:INTC) by 16.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,365 shares of the chip maker’s stock after selling 2,281 shares during the quarter. SouthState Corp’s holdings in Intel were worth $228,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in INTC. Finley Financial LLC bought a new stake in shares of Intel in the 4th quarter valued at about $25,000. Synergy Investment Management LLC bought a new stake in Intel in the fourth quarter valued at approximately $27,000. BankPlus Trust Department acquired a new stake in Intel in the fourth quarter worth $28,000. Keystone Financial Group Inc. bought a new position in shares of Intel during the fourth quarter worth $29,000. Finally, Quest Partners LLC grew its holdings in shares of Intel by 7,370.6% in the 3rd quarter. Quest Partners LLC now owns 1,270 shares of the chip maker’s stock valued at $30,000 after buying an additional 1,253 shares during the period. Institutional investors and hedge funds own 64.53% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on INTC. Bank of America upgraded Intel from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $19.00 to $25.00 in a report on Thursday, March 13th. Mizuho cut their price objective on Intel from $23.00 to $21.00 and set a “neutral” rating on the stock in a report on Friday, January 10th. Benchmark reissued 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, Cantor Fitzgerald increased their price objective on shares of Intel from $22.00 to $29.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 18th. Four investment analysts have rated the stock with a sell rating, twenty-eight have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $27.04.

Intel Price Performance

NASDAQ:INTC opened at $25.69 on Tuesday. The company has a quick ratio of 0.98, a current ratio of 1.33 and a debt-to-equity ratio of 0.44. Intel Co. has a 12-month low of $18.51 and a 12-month high of $45.41. The stock’s 50 day moving average price is $21.56 and its two-hundred day moving average price is $21.90. The firm has a market capitalization of $111.24 billion, a price-to-earnings ratio of -5.87 and a beta of 1.02.

Intel (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, January 30th. The chip maker reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.14). Intel had a negative net margin of 35.32% and a negative return on equity of 3.27%. On average, analysts anticipate that Intel Co. will post -0.11 earnings per share for the current year.

Intel Company 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.