AMG National Trust Bank Reduces Holdings in Intel Co. (NASDAQ:INTC)

AMG National Trust Bank trimmed its holdings in shares of Intel Co. (NASDAQ:INTC) by 42.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,999 shares of the chip maker’s stock after selling 18,689 shares during the period. AMG National Trust Bank’s holdings in Intel were worth $501,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. State Street Corp boosted its position in Intel by 2.8% during the third quarter. State Street Corp now owns 197,958,739 shares of the chip maker’s stock worth $4,644,112,000 after acquiring an additional 5,417,753 shares during the last quarter. Geode Capital Management LLC boosted its position in Intel by 4.6% during the third quarter. Geode Capital Management LLC now owns 92,510,098 shares of the chip maker’s stock worth $2,162,891,000 after acquiring an additional 4,103,553 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Intel by 28.2% during the third 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 worth $1,371,692,000 after acquiring an additional 12,865,308 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Intel by 7.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 33,938,760 shares of the chip maker’s stock worth $680,472,000 after acquiring an additional 2,248,342 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in Intel by 0.3% during the fourth quarter. Bank of New York Mellon Corp now owns 30,616,197 shares of the chip maker’s stock worth $613,855,000 after acquiring an additional 86,483 shares during the last quarter. Institutional investors and hedge funds own 64.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on INTC. Hsbc Global Res upgraded 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 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. Mizuho decreased their price target on shares of Intel from $23.00 to $21.00 and set a “neutral” rating on the stock in a report on Friday, January 10th. Needham & Company LLC reiterated a “hold” rating on shares of Intel in a report on Friday, January 31st. Finally, UBS Group decreased their price target on shares of Intel from $26.00 to $23.00 and set a “neutral” rating on the stock in a report on Tuesday, January 21st. Five equities research analysts have rated the stock with a sell rating, twenty-seven have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $26.88.

Intel Price Performance

INTC opened at $20.64 on Friday. The company has a 50-day moving average of $21.30 and a 200-day moving average of $21.81. The company has a market capitalization of $89.37 billion, a P/E ratio of -4.71 and a beta of 1.02. Intel Co. has a 1-year low of $18.51 and a 1-year high of $46.63. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.98 and a current ratio of 1.33.

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 return on equity of 3.27% and a negative net margin of 35.32%. Equities analysts expect that Intel Co. will post -0.11 EPS for the current fiscal 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.