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

Fifth Third Bancorp lowered its stake in shares of Intel Co. (NASDAQ:INTC) by 30.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 662,388 shares of the chip maker’s stock after selling 287,125 shares during the period. Fifth Third Bancorp’s holdings in Intel were worth $13,281,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Dunhill Financial LLC boosted its position in shares of Intel by 22.6% during the third quarter. Dunhill Financial LLC now owns 2,380 shares of the chip maker’s stock worth $56,000 after buying an additional 438 shares during the period. MKT Advisors LLC boosted its holdings in Intel by 4.8% during the 3rd quarter. MKT Advisors LLC now owns 10,762 shares of the chip maker’s stock valued at $241,000 after acquiring an additional 490 shares during the period. Beaton Management Co. Inc. grew its position in Intel by 2.2% in the 3rd quarter. Beaton Management Co. Inc. now owns 23,208 shares of the chip maker’s stock valued at $544,000 after acquiring an additional 500 shares in the last quarter. Everpar Advisors LLC increased its stake in Intel by 5.1% during the third quarter. Everpar Advisors LLC now owns 10,326 shares of the chip maker’s stock worth $242,000 after purchasing an additional 504 shares during the period. Finally, Missouri Trust & Investment Co lifted its position in shares of Intel by 3.6% during the fourth quarter. Missouri Trust & Investment Co now owns 15,650 shares of the chip maker’s stock worth $314,000 after purchasing an additional 550 shares in the last quarter. Institutional investors and hedge funds own 64.53% of the company’s stock.

Intel Price Performance

Shares of NASDAQ:INTC opened at $20.83 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.97 and a current ratio of 1.31. Intel Co. has a one year low of $18.51 and a one year high of $50.30. The company has a 50-day simple moving average of $21.23 and a 200-day simple moving average of $23.02. The stock has a market capitalization of $89.84 billion, a price-to-earnings ratio of -5.60, a PEG ratio of 9.72 and a beta of 1.07.

Intel (NASDAQ:INTC) last posted its quarterly earnings data on Thursday, October 31st. The chip maker reported ($0.46) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.44). The company had revenue of $13.30 billion for the quarter, compared to analyst estimates of $13.02 billion. Intel had a negative return on equity of 1.71% and a negative net margin of 29.42%. The firm’s revenue was down 6.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.28 earnings per share. On average, analysts predict that Intel Co. will post -0.87 EPS for the current year.

Analyst Upgrades and Downgrades

INTC has been the topic of several recent research reports. The Goldman Sachs Group cut their target price on shares of Intel from $22.00 to $21.00 and set a “sell” rating on the stock in a research note on Thursday, October 17th. Needham & Company LLC reiterated a “hold” rating on shares of Intel in a report on Friday, November 1st. Citigroup cut their price target on Intel from $22.00 to $21.00 and set a “neutral” rating on the stock in a report on Tuesday, January 21st. Hsbc Global Res upgraded Intel from a “moderate sell” rating to a “hold” rating in a research note on Tuesday, January 21st. Finally, UBS Group reduced their target price on shares of Intel from $26.00 to $23.00 and set a “neutral” rating on the stock in a report on Tuesday, January 21st. Five analysts have rated the stock with a sell rating, twenty-seven have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Intel has a consensus rating of “Hold” and an average price target of $28.81.

Insider Buying and Selling at Intel

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $26.00, for a total value of $650,000.00. Following the completion of the sale, the executive vice president now owns 273,258 shares in the company, valued at $7,104,708. This trade represents a 8.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.04% of the stock is currently owned by corporate insiders.

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.