Voya Investment Management LLC Sells 66,359 Shares of Intel Co. (NASDAQ:INTC)

Voya Investment Management LLC reduced its position in Intel Co. (NASDAQ:INTC) by 3.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,658,378 shares of the chip maker’s stock after selling 66,359 shares during the quarter. Voya Investment Management LLC’s holdings in Intel were worth $33,250,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in INTC. Banco Bilbao Vizcaya Argentaria S.A. increased its holdings in Intel by 36.6% during the fourth quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 1,729,698 shares of the chip maker’s stock valued at $34,623,000 after buying an additional 463,597 shares during the period. Kerrisdale Advisers LLC lifted its holdings in Intel by 291.4% during the fourth quarter. Kerrisdale Advisers LLC now owns 63,550 shares of the chip maker’s stock worth $1,274,000 after buying an additional 47,315 shares during the period. Sompo Asset Management Co. Ltd. boosted its position in Intel by 46.6% during the 4th quarter. Sompo Asset Management Co. Ltd. now owns 263,849 shares of the chip maker’s stock valued at $5,290,000 after acquiring an additional 83,834 shares in the last quarter. Symmetry Investments LP purchased a new position in shares of Intel in the 4th quarter valued at $4,651,000. Finally, Alta Advisers Ltd raised its position in shares of Intel by 24.3% in the 4th quarter. Alta Advisers Ltd now owns 14,421 shares of the chip maker’s stock worth $289,000 after acquiring an additional 2,821 shares in the last quarter. 64.53% of the stock is owned by hedge funds and other institutional investors.

Intel Price Performance

Shares of INTC opened at $20.05 on Friday. The company has a market capitalization of $87.43 billion, a P/E ratio of -4.58 and a beta of 1.13. The business’s 50-day moving average is $21.92 and its two-hundred day moving average is $21.87. 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 announced its quarterly earnings results on Thursday, April 24th. The chip maker reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.12. Intel had a negative return on equity of 3.27% and a negative net margin of 35.32%. The company had revenue of $12.67 billion during the quarter, compared to analysts’ expectations of $12.26 billion. During the same period last year, the business earned $0.18 earnings per share. Research analysts predict that Intel Co. will post -0.11 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on INTC shares. Wells Fargo & Company cut their target price on Intel from $25.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Friday. JPMorgan Chase & Co. reduced their price objective on shares of Intel from $23.00 to $20.00 and set an “underweight” rating for the company in a research note on Friday. Wedbush lowered their target price on shares of Intel from $20.00 to $19.00 and set a “neutral” rating for the company in a research note on Wednesday. Truist Financial reduced their price target on Intel from $22.00 to $21.00 and set a “hold” rating on the stock in a research report on Friday, January 31st. Finally, Sanford C. Bernstein lowered their price objective on Intel from $25.00 to $21.00 and set a “market perform” rating for the company in a research report on Tuesday. Six equities research analysts have rated the stock with a sell rating, twenty-six have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, Intel currently has a consensus rating of “Hold” and an average price target of $22.83.

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.