Appaloosa LP Has $20.05 Million Holdings in Intel Co. (NASDAQ:INTC)

Appaloosa LP cut its stake in shares of Intel Co. (NASDAQ:INTC) by 60.0% in the fourth quarter, Holdings Channel reports. The firm owned 1,000,000 shares of the chip maker’s stock after selling 1,500,000 shares during the quarter. Appaloosa LP’s holdings in Intel were worth $20,050,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. State Street Corp grew its stake in shares of Intel by 2.8% during the third quarter. State Street Corp now owns 197,958,739 shares of the chip maker’s stock worth $4,644,112,000 after purchasing an additional 5,417,753 shares during the period. Geode Capital Management LLC grew its stake in shares of Intel by 4.6% during the third quarter. Geode Capital Management LLC now owns 92,510,098 shares of the chip maker’s stock worth $2,162,891,000 after purchasing an additional 4,103,553 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Intel by 28.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 58,469,412 shares of the chip maker’s stock worth $1,371,692,000 after purchasing an additional 12,865,308 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Intel by 7.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 33,938,760 shares of the chip maker’s stock worth $680,472,000 after purchasing an additional 2,248,342 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in shares of Intel by 0.3% during the fourth quarter. Bank of New York Mellon Corp now owns 30,616,197 shares of the chip maker’s stock worth $613,855,000 after purchasing an additional 86,483 shares during the period. 64.53% of the stock is owned by institutional investors and hedge funds.

Intel Stock Performance

INTC opened at $20.68 on Thursday. Intel Co. has a 52-week low of $18.51 and a 52-week high of $45.41. The firm has a market capitalization of $89.54 billion, a PE ratio of -4.72 and a beta of 1.02. 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 business’s 50-day simple moving average is $21.31 and its 200 day simple moving average is $21.80.

Intel (NASDAQ:INTC) last released its quarterly earnings data 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%. As a group, sell-side analysts expect that Intel Co. will post -0.11 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Hsbc Global Res raised Intel from a “moderate sell” rating to a “hold” rating in a research note on Tuesday, January 21st. Wells Fargo & Company decreased their target price on Intel from $28.00 to $25.00 and set an “equal weight” rating for the company in a research note on Friday, January 31st. Roth Mkm decreased their target price on Intel from $25.00 to $20.00 and set a “neutral” rating for the company in a research note on Friday, January 31st. UBS Group decreased their target price on Intel from $26.00 to $23.00 and set a “neutral” rating for the company in a research note on Tuesday, January 21st. Finally, Cantor Fitzgerald boosted their target price on Intel from $22.00 to $29.00 and gave the company a “neutral” rating in a research note on Tuesday, February 18th. Five research analysts have rated the stock with a sell rating, twenty-seven have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, Intel currently has a consensus rating of “Hold” and an average price target of $26.88.

Intel 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.