Zurcher Kantonalbank Zurich Cantonalbank Buys 655,520 Shares of Intel Co. (NASDAQ:INTC)

Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Intel Co. (NASDAQ:INTC) by 27.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,069,979 shares of the chip maker’s stock after acquiring an additional 655,520 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.07% of Intel worth $61,553,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Finley Financial LLC purchased a new position in Intel during the 4th quarter valued at about $25,000. Synergy Investment Management LLC purchased a new position in Intel during the 4th quarter valued at about $27,000. BankPlus Trust Department purchased a new position in Intel during the 4th quarter valued at about $28,000. Keystone Financial Group Inc. purchased a new position in Intel during the 4th quarter valued at about $29,000. Finally, Quest Partners LLC increased its holdings in 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 purchasing an additional 1,253 shares during the period. Institutional investors own 64.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on INTC shares. Citigroup reduced their target price on Intel from $22.00 to $21.00 and set a “neutral” rating on the stock in a report on Tuesday, January 21st. Mizuho reduced their target price on Intel from $23.00 to $21.00 and set a “neutral” rating on the stock in a report on Friday, January 10th. Benchmark reiterated a “hold” rating on shares of Intel in a report on Friday, January 31st. Rosenblatt Securities reiterated a “sell” rating and set a $20.00 target price on shares of Intel in a report on Thursday, January 30th. Finally, JPMorgan Chase & Co. reduced their target price on Intel from $26.00 to $23.00 and set an “underweight” rating on the stock in a report on Friday, January 31st. Five equities research analysts have rated the stock with a sell rating, twenty-seven have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $26.88.

Intel Trading Down 0.5 %

Shares of Intel stock opened at $20.64 on Monday. The firm has a market capitalization of $89.37 billion, a PE ratio of -4.71 and a beta of 1.02. Intel Co. has a twelve month low of $18.51 and a twelve month high of $46.63. The firm’s 50-day moving average price is $21.30 and its 200 day moving average price is $21.81. The company has a current ratio of 1.33, a quick ratio of 0.98 and a debt-to-equity ratio of 0.44.

Intel (NASDAQ:INTC) last issued its quarterly earnings results on Thursday, January 30th. The chip maker reported ($0.02) earnings per share 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%. On average, sell-side analysts predict that Intel Co. will post -0.11 EPS for the current fiscal 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.