M&T Bank Corp Sells 199,052 Shares of Intel Co. (NASDAQ:INTC)

M&T Bank Corp trimmed its holdings in shares of Intel Co. (NASDAQ:INTC) by 16.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,024,073 shares of the chip maker’s stock after selling 199,052 shares during the period. M&T Bank Corp’s holdings in Intel were worth $20,533,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Finley Financial LLC purchased a new stake in shares of Intel during the fourth quarter valued at about $25,000. Synergy Investment Management LLC purchased a new stake in shares of Intel during the fourth quarter valued at about $27,000. BankPlus Trust Department purchased a new stake in shares of Intel during the fourth quarter valued at about $28,000. Keystone Financial Group Inc. purchased a new stake in shares of Intel during the fourth quarter valued at about $29,000. Finally, Quest Partners LLC lifted its position in shares of 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 last quarter. 64.53% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have commented on INTC shares. Cantor Fitzgerald increased their price target on shares of Intel from $22.00 to $29.00 and gave the company a “neutral” rating in a research report on Tuesday, February 18th. Hsbc Global Res raised shares of Intel from a “moderate sell” rating to a “hold” rating in a research report on Tuesday, January 21st. Truist Financial decreased their price objective on shares of Intel from $22.00 to $21.00 and set a “hold” rating for the company in a research report on Friday, January 31st. Needham & Company LLC reaffirmed a “hold” rating on shares of Intel in a research report on Friday, January 31st. Finally, Mizuho decreased their price objective on shares of Intel from $23.00 to $21.00 and set a “neutral” rating for the company in a research report on Friday, January 10th. Five equities research analysts have rated the stock with a sell rating, twenty-seven have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $26.88.

Intel Price Performance

Shares of NASDAQ INTC opened at $20.81 on Thursday. The stock has a market capitalization of $90.11 billion, a price-to-earnings ratio of -4.75 and a beta of 1.02. Intel Co. has a 12 month low of $18.51 and a 12 month high of $46.63. The firm’s 50 day simple moving average is $21.28 and its 200-day simple moving average is $21.82. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.33 and a quick ratio of 0.98.

Intel (NASDAQ:INTC) last issued 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 return on equity of 3.27% and a negative net margin of 35.32%. 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.