Allstate Corp Makes New Investment in Intel Co. (NASDAQ:INTC)

Allstate Corp acquired a new position in Intel Co. (NASDAQ:INTC) during the fourth quarter, HoldingsChannel reports. The firm acquired 126,754 shares of the chip maker’s stock, valued at approximately $2,541,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Finley Financial LLC acquired a new stake in Intel in the 4th quarter valued at $25,000. Synergy Investment Management LLC acquired a new position in shares of Intel during the fourth quarter worth about $27,000. BankPlus Trust Department purchased a new stake in shares of Intel in the fourth quarter worth about $28,000. Keystone Financial Group Inc. acquired a new stake in shares of Intel in the fourth quarter valued at about $29,000. Finally, Quest Partners LLC raised its holdings in shares of Intel by 7,370.6% during 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. 64.53% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

INTC has been the subject of several recent research reports. Barclays lowered their price objective on shares of Intel from $25.00 to $23.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. Benchmark reaffirmed a “hold” rating on shares of Intel in a report on Friday, January 31st. UBS Group dropped their price target 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. Wells Fargo & Company decreased their price objective on shares of Intel from $28.00 to $25.00 and set an “equal weight” rating for the company in a research report on Friday, January 31st. Finally, Roth Mkm dropped their target price on Intel from $25.00 to $20.00 and set a “neutral” rating on the stock in a research report on Friday, January 31st. Four 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 stock. According to MarketBeat.com, Intel has a consensus rating of “Hold” and an average target price of $27.04.

Intel Trading Down 3.9 %

Shares of NASDAQ INTC opened at $22.71 on Friday. Intel Co. has a 12-month low of $18.51 and a 12-month high of $45.41. The company has a market cap of $98.33 billion, a price-to-earnings ratio of -5.18 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. The stock’s 50 day simple moving average is $22.33 and its 200 day simple moving average is $22.15.

Intel (NASDAQ:INTC) last posted its earnings results on Thursday, January 30th. The chip maker reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.14). Intel had a negative net margin of 35.32% and a negative return on equity of 3.27%. Equities research analysts expect that Intel Co. will post -0.11 EPS 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.