Intel Co. (NASDAQ:INTC) Shares Sold by M&T Bank Corp

M&T Bank Corp lowered its stake in Intel Co. (NASDAQ:INTC) by 16.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 1,024,073 shares of the chip maker’s stock after selling 199,052 shares during the quarter. M&T Bank Corp’s holdings in Intel were worth $20,533,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. lifted its holdings in Intel by 264.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 19,617,088 shares of the chip maker’s stock valued at $393,323,000 after purchasing an additional 14,227,458 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Intel by 28.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 58,469,412 shares of the chip maker’s stock valued at $1,371,692,000 after purchasing an additional 12,865,308 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in Intel by 224.8% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 10,413,544 shares of the chip maker’s stock valued at $244,302,000 after purchasing an additional 7,207,785 shares in the last quarter. State Street Corp lifted its holdings in Intel by 2.8% in the 3rd quarter. State Street Corp now owns 197,958,739 shares of the chip maker’s stock valued at $4,644,112,000 after purchasing an additional 5,417,753 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Intel by 4.6% in the 3rd quarter. Geode Capital Management LLC now owns 92,510,098 shares of the chip maker’s stock valued at $2,162,891,000 after purchasing an additional 4,103,553 shares in the last quarter. Institutional investors and hedge funds own 64.53% of the company’s stock.

Analyst Upgrades and Downgrades

INTC has been the topic of a number of research reports. Truist Financial decreased their price objective on Intel from $22.00 to $21.00 and set a “hold” rating on the stock in a report on Friday, January 31st. HSBC upgraded Intel from a “reduce” rating to a “hold” rating in a report on Tuesday, January 21st. Wells Fargo & Company reduced their price target on Intel from $28.00 to $25.00 and set an “equal weight” rating on the stock in a report on Friday, January 31st. JPMorgan Chase & Co. reduced their price target on Intel from $26.00 to $23.00 and set an “underweight” rating on the stock in a report on Friday, January 31st. Finally, Hsbc Global Res upgraded Intel from a “moderate sell” rating to a “hold” rating in a report on Tuesday, January 21st. Five research analysts have rated the stock with a sell rating, twenty-seven have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $26.88.

Intel Stock Performance

NASDAQ INTC opened at $20.81 on Thursday. The company has a market cap of $90.11 billion, a P/E ratio of -4.75 and a beta of 1.02. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.33 and a quick ratio of 0.98. The stock has a 50-day moving average of $21.28 and a two-hundred day moving average of $21.82. Intel Co. has a 1-year low of $18.51 and a 1-year high of $46.63.

Intel (NASDAQ:INTC) last released its 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%. As a group, analysts anticipate that Intel Co. will post -0.11 EPS for the current year.

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.