Synovus Financial Corp Has $2.99 Million Stake in Intel Co. (NASDAQ:INTC)

Synovus Financial Corp lowered its position in Intel Co. (NASDAQ:INTC) by 32.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 149,254 shares of the chip maker’s stock after selling 70,312 shares during the quarter. Synovus Financial Corp’s holdings in Intel were worth $2,993,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in Intel by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 369,099,204 shares of the chip maker’s stock valued at $7,400,439,000 after purchasing an additional 6,143,164 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Intel by 3.2% in the fourth quarter. Geode Capital Management LLC now owns 95,488,444 shares of the chip maker’s stock valued at $1,909,761,000 after buying an additional 2,978,346 shares during the last quarter. Norges Bank bought a new position in shares of Intel during the 4th quarter worth approximately $1,246,569,000. Invesco Ltd. increased its holdings in shares of Intel by 9.4% during the 4th quarter. Invesco Ltd. now owns 43,088,830 shares of the chip maker’s stock worth $863,931,000 after acquiring an additional 3,696,377 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Intel by 7.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 33,938,760 shares of the chip maker’s stock valued at $680,472,000 after acquiring an additional 2,248,342 shares during the period. Institutional investors own 64.53% of the company’s stock.

Intel Stock Performance

NASDAQ INTC opened at $20.31 on Tuesday. The firm’s fifty day moving average price is $22.38 and its two-hundred day moving average price is $22.05. The stock has a market cap of $88.56 billion, a PE ratio of -4.64 and a beta of 1.13. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.98 and a current ratio of 1.33. Intel Co. has a fifty-two week low of $17.67 and a fifty-two week high of $37.16.

Intel (NASDAQ:INTC) last issued 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 return on equity of 3.27% and a negative net margin of 35.32%. On average, equities analysts expect that Intel Co. will post -0.11 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have commented on INTC. UBS Group decreased their price objective on shares of Intel from $23.00 to $22.00 and set a “neutral” rating on the stock in a report on Monday. Truist Financial lowered their price target on shares of Intel from $22.00 to $21.00 and set a “hold” rating on the stock in a report on Friday, January 31st. Hsbc Global Res upgraded Intel from a “moderate sell” rating to a “hold” rating in a research note on Tuesday, January 21st. Mizuho lowered their price objective on Intel from $23.00 to $21.00 and set a “neutral” rating on the stock in a research report on Friday, January 10th. Finally, Benchmark reissued a “hold” rating on shares of Intel in a research report on Friday, January 31st. Four equities research analysts have rated the stock with a sell rating, twenty-eight have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Intel currently has a consensus rating of “Hold” and a consensus target price of $25.54.

About Intel

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.