Norges Bank Purchases New Shares in Intel Co. (NASDAQ:INTC)

Norges Bank acquired a new position in Intel Co. (NASDAQ:INTC) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 62,173,015 shares of the chip maker’s stock, valued at approximately $1,246,569,000. Norges Bank owned approximately 1.44% of Intel at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Finley Financial LLC purchased a new stake in Intel in the fourth quarter worth about $25,000. Synergy Investment Management LLC bought a new stake in shares of Intel during the fourth quarter valued at approximately $27,000. BankPlus Trust Department purchased a new stake in Intel in the fourth quarter worth $28,000. Keystone Financial Group Inc. bought a new position in Intel in the fourth quarter worth $29,000. Finally, Quest Partners LLC lifted its position in 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 buying an additional 1,253 shares during the period. 64.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

INTC has been the subject of a number of recent research reports. Barclays lowered their price target on shares of Intel from $25.00 to $23.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. Hsbc Global Res raised Intel from a “moderate sell” rating to a “hold” rating in a research report on Tuesday, January 21st. Stifel Nicolaus lowered their price objective on Intel from $25.00 to $21.00 and set a “hold” rating for the company in a research note on Friday, January 31st. Rosenblatt Securities reissued a “sell” rating and issued a $20.00 target price on shares of Intel in a research note on Thursday, January 30th. Finally, Wells Fargo & Company lowered their price target on Intel from $28.00 to $25.00 and set an “equal weight” rating for the company in a research report on Friday, January 31st. Four investment analysts have rated the stock with a sell rating, twenty-eight have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $27.04.

Intel Trading Down 3.2 %

Intel stock opened at $23.42 on Thursday. Intel Co. has a 12-month low of $18.51 and a 12-month high of $45.41. The firm has a market capitalization of $101.41 billion, a price-to-earnings ratio of -5.35 and a beta of 1.02. The firm has a 50 day moving average of $22.22 and a 200 day moving average of $22.09. 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 announced its quarterly earnings data on Thursday, January 30th. The chip maker reported ($0.02) EPS 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, research analysts predict that Intel Co. will post -0.11 earnings per share 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.