Lazard Asset Management LLC Grows Position in Intel Co. (NASDAQ:INTC)

Lazard Asset Management LLC increased its stake in shares of Intel Co. (NASDAQ:INTC) by 4,290.4% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 6,207,340 shares of the chip maker’s stock after acquiring an additional 6,065,956 shares during the period. Lazard Asset Management LLC owned approximately 0.14% of Intel worth $124,456,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Finley Financial LLC bought a new position in shares of Intel during the fourth quarter valued at approximately $25,000. Synergy Investment Management LLC purchased a new stake in shares of Intel during the fourth quarter worth $27,000. BankPlus Trust Department bought a new stake in Intel in the fourth quarter worth $28,000. Keystone Financial Group Inc. bought a new position in Intel in the 4th quarter worth $29,000. Finally, West Financial Advisors LLC bought a new position in Intel in the 4th quarter worth approximately $31,000. 64.53% of the stock is owned by hedge funds and other institutional investors.

Intel Trading Up 2.1%

NASDAQ:INTC opened at $21.44 on Monday. Intel Co. has a 12-month low of $17.67 and a 12-month high of $37.16. The stock has a fifty day moving average price of $21.24 and a 200 day moving average price of $21.70. The firm has a market cap of $93.52 billion, a PE ratio of -4.89 and a beta of 1.15. 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 posted its quarterly earnings data 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. The business had revenue of $12.67 billion during the quarter, compared to the consensus estimate of $12.26 billion. Intel had a negative return on equity of 3.27% and a negative net margin of 35.32%. The company’s revenue was down .4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.18 earnings per share. Sell-side analysts anticipate that Intel Co. will post -0.11 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on INTC shares. Cantor Fitzgerald cut their target price on Intel from $29.00 to $20.00 and set a “neutral” rating for the company in a research report on Monday, April 21st. Rosenblatt Securities cut their target price on Intel from $18.00 to $14.00 and set a “sell” rating on the stock in a research note on Friday, April 25th. Mizuho cut their target price on shares of Intel from $23.00 to $22.00 and set a “neutral” rating for the company in a research note on Friday, April 25th. JPMorgan Chase & Co. lowered their target price on shares of Intel from $23.00 to $20.00 and set an “underweight” rating on the stock in a report on Friday, April 25th. Finally, UBS Group decreased their target price on shares of Intel from $22.00 to $21.00 and set a “neutral” rating on the stock in a research note on Friday, April 25th. Six 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. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $22.23.

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.