Intel Corporation (NASDAQ:INTC) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp decreased its holdings in Intel Corporation (NASDAQ:INTC - Free Report) by 2.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,875,917 shares of the chip maker's stock after selling 740,280 shares during the period. Bank of New York Mellon Corp owned about 0.69% of Intel worth $678,482,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the business. Vermillion Wealth Management Inc. acquired a new position in shares of Intel during the fourth quarter worth $27,000. LFA Lugano Financial Advisors SA acquired a new position in shares of Intel during the first quarter worth $30,000. Olde Wealth Management LLC acquired a new position in shares of Intel during the first quarter worth $31,000. Conquis Financial LLC acquired a new position in shares of Intel during the fourth quarter worth $32,000. Finally, Mizuho Securities Co. Ltd. acquired a new position in shares of Intel during the first quarter worth $32,000. Institutional investors and hedge funds own 64.53% of the company's stock.

Intel Trading Up 2.4%

Shares of NASDAQ:INTC traded up $0.53 during trading on Friday, reaching $22.41. The stock had a trading volume of 61,175,951 shares, compared to its average volume of 86,374,374. The business has a fifty day moving average price of $21.04 and a 200-day moving average price of $21.20. The company has a quick ratio of 0.93, a current ratio of 1.31 and a debt-to-equity ratio of 0.42. The stock has a market cap of $97.73 billion, a P/E ratio of -5.00 and a beta of 1.15. Intel Corporation has a fifty-two week low of $17.67 and a fifty-two week high of $37.16.

Intel (NASDAQ:INTC - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The chip maker reported $0.13 earnings per share for the quarter, beating analysts' consensus estimates of $0.01 by $0.12. The business had revenue of $12.67 billion during the quarter, compared to analyst estimates of $12.26 billion. Intel had a negative net margin of 36.19% and a negative return on equity of 3.15%. The company's revenue was down .4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.18 earnings per share. As a group, analysts anticipate that Intel Corporation will post -0.11 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Cantor Fitzgerald lowered their target price on shares of Intel from $29.00 to $20.00 and set a "neutral" rating for the company in a research note on Monday, April 21st. Citigroup reiterated a "sell" rating on shares of Intel in a research note on Friday, April 25th. Needham & Company LLC reiterated a "hold" rating on shares of Intel in a research note on Friday, April 25th. Bank of America upgraded shares of Intel from an "underperform" rating to a "neutral" rating and lifted their price target for the stock from $19.00 to $25.00 in a research note on Thursday, March 13th. Finally, Seaport Res Ptn upgraded shares of Intel to a "strong sell" rating in a research note on Wednesday, April 30th. Six analysts have rated the stock with a sell rating, twenty-five have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Intel has a consensus rating of "Hold" and an average target price of $21.62.

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.