Bank of New York Mellon Corp Buys 86,483 Shares of Intel Co. (NASDAQ:INTC)

Bank of New York Mellon Corp raised its stake in shares of Intel Co. (NASDAQ:INTC) by 0.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 30,616,197 shares of the chip maker’s stock after acquiring an additional 86,483 shares during the quarter. Bank of New York Mellon Corp’s holdings in Intel were worth $613,855,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in INTC. Finley Financial LLC acquired a new position in Intel in the 4th quarter valued at approximately $25,000. BankPlus Trust Department acquired a new stake in shares of Intel during the 4th quarter worth approximately $28,000. Keystone Financial Group Inc. bought a new stake in shares of Intel during the fourth quarter valued at approximately $29,000. Quest Partners LLC raised its stake in shares of Intel by 7,370.6% in the third quarter. Quest Partners LLC now owns 1,270 shares of the chip maker’s stock valued at $30,000 after purchasing an additional 1,253 shares in the last quarter. Finally, West Financial Advisors LLC bought a new position in Intel in the fourth quarter worth $31,000. Institutional investors and hedge funds own 64.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Truist Financial lowered their price target on shares of Intel from $22.00 to $21.00 and set a “hold” rating on the stock in a report on Friday, January 31st. Hsbc Global Res raised shares of Intel from a “moderate sell” rating to a “hold” rating in a research note on Tuesday, January 21st. Wells Fargo & Company cut their price target on shares of Intel from $28.00 to $25.00 and set an “equal weight” rating for the company in a research note on Friday, January 31st. Barclays lowered their price objective on Intel from $25.00 to $23.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. Finally, Cantor Fitzgerald raised their target price on Intel from $22.00 to $29.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 18th. Five investment 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’s stock. According to data from MarketBeat, Intel has an average rating of “Hold” and a consensus price target of $26.88.

Intel Trading Down 5.3 %

INTC stock opened at $22.99 on Wednesday. The company has a quick ratio of 0.98, a current ratio of 1.33 and a debt-to-equity ratio of 0.44. Intel Co. has a twelve month low of $18.51 and a twelve month high of $46.63. The company has a market cap of $99.55 billion, a P/E ratio of -5.25 and a beta of 1.08. The business has a fifty day moving average of $20.96 and a 200-day moving average of $21.73.

Intel (NASDAQ:INTC) last announced its quarterly earnings data 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 return on equity of 3.27% and a negative net margin of 35.32%. As a group, equities research analysts expect that Intel Co. will post -0.11 EPS for the current year.

About Intel

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.