Davis Selected Advisers Sells 10,056,313 Shares of Intel Co. (NASDAQ:INTC)

Davis Selected Advisers has significantly reduced its stake in Intel Co. (NASDAQ: INTC) by 79.7%, selling 10,056,313 shares during the fourth quarter. Following the sale, the firm holds 2,567,616 shares valued at approximately $51.5 million. Other institutional investors have also adjusted their positions in Intel, with varying increases and new stakes. Analysts have recently downgraded Intel's price targets, with a consensus rating of "Hold" and an average price target of $26.88. Intel's stock opened at $20.64, reflecting a 0.5% decline.

Davis Selected Advisers cut its position in shares of Intel Co. (NASDAQ:INTC - Free Report) by 79.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,567,616 shares of the chip maker's stock after selling 10,056,313 shares during the period. Davis Selected Advisers owned about 0.06% of Intel worth $51,481,000 at the end of the most recent reporting period.

Taiwan Semi's $100 Billion Investment: Fate of the Chipmakers

A number of other institutional investors and hedge funds have also modified their holdings of the company. Generali Investments CEE investicni spolecnost a.s. bought a new stake in shares of Intel during the fourth quarter valued at approximately $2,406,000. Banco Santander S.A. increased its position in shares of Intel by 42.5% during the fourth quarter. Banco Santander S.A. now owns 292,611 shares of the chip maker's stock valued at $5,867,000 after purchasing an additional 87,256 shares during the period. Bank Julius Baer & Co. Ltd Zurich boosted its stake in Intel by 16.3% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 184,802 shares of the chip maker's stock valued at $4,089,000 after buying an additional 25,838 shares in the last quarter. Mesirow Financial Investment Management Inc. boosted its stake in Intel by 62.3% in the 4th quarter. Mesirow Financial Investment Management Inc. now owns 76,144 shares of the chip maker's stock valued at $1,527,000 after buying an additional 29,240 shares in the last quarter. Finally, Edgestream Partners L.P. boosted its stake in Intel by 145.9% in the 4th quarter. Edgestream Partners L.P. now owns 235,261 shares of the chip maker's stock valued at $4,717,000 after buying an additional 139,586 shares in the last quarter. 64.53% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

INTC has been the topic of several recent analyst reports. Citigroup decreased their price target on Intel from $22.00 to $21.00 and set a "neutral" rating on the stock in a research note on Tuesday, January 21st. Wells Fargo & Company decreased their price target on Intel from $28.00 to $25.00 and set an "equal weight" rating on the stock in a research note on Friday, January 31st. Hsbc Global Res raised Intel from a "moderate sell" rating to a "hold" rating in a research note on Tuesday, January 21st. Mizuho decreased their price target on Intel from $23.00 to $21.00 and set a "neutral" rating on the stock in a research note on Friday, January 10th. Finally, UBS Group decreased their price target on Intel from $26.00 to $23.00 and set a "neutral" rating on the stock in a research note on Tuesday, January 21st. Five investment analysts have rated the stock with a sell rating, twenty-seven have issued a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, Intel has an average rating of "Hold" and a consensus price target of $26.88.

Intel Foundry’s Moment of Truth: Will 18A Deliver?

View Our Latest Report on Intel

Intel Trading Down 0.5 %

NASDAQ INTC opened at $20.64 on Friday. The stock has a 50-day simple moving average of $21.30 and a 200 day simple moving average of $21.80. The company has a market capitalization of $89.37 billion, a PE ratio of -4.71 and a beta of 1.02. 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 Co. has a 12 month low of $18.51 and a 12 month high of $46.63.

Intel Surges on M&A Talks: Rally Beginning or Just a Headfake?

Intel (NASDAQ:INTC - Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The chip maker reported ($0.02) EPS for the quarter, missing analysts' consensus estimates of $0.12 by ($0.14). Intel had a negative net margin of 35.32% and a negative return on equity of 3.27%. Research analysts forecast that Intel Co. will post -0.11 EPS for the current year.

Intel Company Profile

(Free Report)

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.

Should You Invest $1,000 in Intel Right Now?

Before you consider Intel, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Intel wasn't on the list.

While Intel currently has a Reduce rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

Davis Selected Advisers Sells 10,056,313 Shares of Intel Co. (NASDAQ:INTC)

Wall Street Analyst Weigh In

Intel Trading Down 0.5 %

Intel Company Profile

Further Reading

Should You Invest $1,000 in Intel Right Now?