Illinois Municipal Retirement Fund Raises Position in Intel Co. (NASDAQ:INTC)

Illinois Municipal Retirement Fund increased its holdings in Intel Co. (NASDAQ:INTC) by 345.1% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 478,184 shares of the chip maker’s stock after buying an additional 370,759 shares during the period. Illinois Municipal Retirement Fund’s holdings in Intel were worth $9,588,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC raised its position in Intel by 4.6% during the third quarter. Geode Capital Management LLC now owns 92,510,098 shares of the chip maker’s stock valued at $2,162,891,000 after purchasing an additional 4,103,553 shares in the last quarter. Relyea Zuckerberg Hanson LLC raised its position in Intel by 211.6% during the fourth quarter. Relyea Zuckerberg Hanson LLC now owns 28,898 shares of the chip maker’s stock valued at $579,000 after purchasing an additional 19,625 shares in the last quarter. Principal Financial Group Inc. raised its position in Intel by 4.4% during the third quarter. Principal Financial Group Inc. now owns 4,827,123 shares of the chip maker’s stock valued at $113,244,000 after purchasing an additional 204,200 shares in the last quarter. Empirical Asset Management LLC purchased a new stake in Intel during the fourth quarter valued at about $276,000. Finally, Swiss National Bank raised its position in Intel by 0.3% during the third quarter. Swiss National Bank now owns 12,635,400 shares of the chip maker’s stock valued at $296,426,000 after purchasing an additional 31,800 shares in the last quarter. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Intel Stock Performance

Intel stock opened at $22.99 on Wednesday. The stock’s 50 day simple moving average is $20.96 and its two-hundred day simple moving average is $21.73. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.98 and a current ratio of 1.33. The stock has a market cap of $99.55 billion, a price-to-earnings ratio of -5.25 and a beta of 1.08. Intel Co. has a fifty-two week low of $18.51 and a fifty-two week high of $46.63.

Intel (NASDAQ:INTC) last posted its quarterly earnings data on Thursday, January 30th. The chip maker reported ($0.02) earnings per share 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%. As a group, analysts expect that Intel Co. will post -0.11 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on INTC. Needham & Company LLC restated a “hold” rating on shares of Intel in a research report on Friday, January 31st. Cantor Fitzgerald raised their price target on Intel from $22.00 to $29.00 and gave the company a “neutral” rating in a research report on Tuesday, February 18th. HSBC upgraded Intel from a “reduce” rating to a “hold” rating in a research report on Tuesday, January 21st. Wells Fargo & Company decreased their price objective on Intel from $28.00 to $25.00 and set an “equal weight” rating on the stock in a report on Friday, January 31st. Finally, Bank of America reiterated an “underperform” rating and issued a $21.00 price objective on shares of Intel in a report on Tuesday, December 3rd. Five investment analysts have rated the stock with a sell rating, twenty-seven have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Intel presently has an average rating of “Hold” and a consensus target price of $26.88.

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.