Allspring Global Investments Holdings LLC Sells 81,386 Shares of Intel Co. (NASDAQ:INTC)

Allspring Global Investments Holdings LLC lessened its position in shares of Intel Co. (NASDAQ:INTC) by 24.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 248,458 shares of the chip maker’s stock after selling 81,386 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Intel were worth $5,024,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Quest Partners LLC increased its holdings in shares of Intel by 7,370.6% during the third quarter. Quest Partners LLC now owns 1,270 shares of the chip maker’s stock valued at $30,000 after acquiring an additional 1,253 shares in the last quarter. Finley Financial LLC acquired a new position in shares of Intel during the fourth quarter valued at about $25,000. Keystone Financial Group Inc. acquired a new position in Intel during the 4th quarter valued at approximately $29,000. FSA Wealth Management LLC acquired a new position in Intel during the 3rd quarter valued at approximately $34,000. Finally, Capital Performance Advisors LLP acquired a new position in Intel during the 3rd quarter valued at approximately $36,000. Institutional investors own 64.53% of the company’s stock.

Intel Trading Down 6.1 %

INTC opened at $25.72 on Thursday. The firm has a market capitalization of $111.37 billion, a price-to-earnings ratio of -5.87 and a beta of 1.08. The company’s 50 day simple moving average is $20.53 and its two-hundred day simple moving average is $21.56. Intel Co. has a 1-year low of $18.51 and a 1-year high of $46.63. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.33 and a quick ratio of 0.98.

Intel (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, January 30th. The chip maker reported ($0.02) earnings per share 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%. Analysts expect that Intel Co. will post -0.11 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on INTC shares. Citigroup cut their target price on Intel from $22.00 to $21.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 21st. Stifel Nicolaus cut their price objective on Intel from $25.00 to $21.00 and set a “hold” rating on the stock in a report on Friday, January 31st. Northland Securities cut their price objective on Intel from $42.00 to $28.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. JPMorgan Chase & Co. cut their price objective on Intel from $26.00 to $23.00 and set an “underweight” rating on the stock in a report on Friday, January 31st. Finally, Wells Fargo & Company cut their price target on shares of Intel from $28.00 to $25.00 and set an “equal weight” rating on the stock in a report on Friday, January 31st. Five investment 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. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $26.88.

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.