M&T Bank Corp Has $22.10 Million Stock Position in Intel Corporation (NASDAQ:INTC)

M&T Bank Corp reduced its stake in Intel Corporation (NASDAQ:INTC - Free Report) by 5.0% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 973,004 shares of the chip maker's stock after selling 51,069 shares during the period. M&T Bank Corp's holdings in Intel were worth $22,097,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Cornerstone Advisory LLC boosted its holdings in Intel by 4.3% during the fourth quarter. Cornerstone Advisory LLC now owns 9,863 shares of the chip maker's stock worth $198,000 after buying an additional 409 shares during the last quarter. Evergreen Capital Management LLC raised its position in Intel by 1.0% in the 4th quarter. Evergreen Capital Management LLC now owns 41,904 shares of the chip maker's stock valued at $840,000 after buying an additional 419 shares during the last quarter. Federated Hermes Inc. raised its position in Intel by 0.3% in the 4th quarter. Federated Hermes Inc. now owns 162,757 shares of the chip maker's stock valued at $3,263,000 after buying an additional 456 shares during the last quarter. Ausdal Financial Partners Inc. raised its position in Intel by 2.0% in the 4th quarter. Ausdal Financial Partners Inc. now owns 24,963 shares of the chip maker's stock valued at $501,000 after buying an additional 500 shares during the last quarter. Finally, Capital International Sarl increased its position in shares of Intel by 4.1% during the 4th quarter. Capital International Sarl now owns 12,971 shares of the chip maker's stock worth $260,000 after purchasing an additional 510 shares during the last quarter. 64.53% of the stock is currently owned by institutional investors.

Intel Stock Up 7.2%

Shares of NASDAQ:INTC opened at $23.59 on Wednesday. Intel Corporation has a 12 month low of $17.67 and a 12 month high of $37.16. The company has a 50-day moving average price of $21.13 and a 200 day moving average price of $21.25. The company has a market cap of $102.90 billion, a price-to-earnings ratio of -5.27 and a beta of 1.15. The company has a current ratio of 1.31, a quick ratio of 0.93 and a debt-to-equity ratio of 0.42.

Intel (NASDAQ:INTC - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The chip maker reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.12. The firm had revenue of $12.67 billion during the quarter, compared to the consensus estimate 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 firm posted $0.18 earnings per share. As a group, equities research analysts predict that Intel Corporation will post -0.11 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Susquehanna lowered their price target on Intel from $24.00 to $22.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 16th. Cantor Fitzgerald reduced their price target on Intel from $29.00 to $20.00 and set a "neutral" rating for the company in a research note on Monday, April 21st. Wells Fargo & Company dropped their price objective on Intel from $25.00 to $22.00 and set an "equal weight" rating for the company in a report on Friday, April 25th. Citigroup reaffirmed a "hold" rating on shares of Intel in a report on Tuesday. Finally, Cfra Research raised Intel to a "hold" rating in a report on Friday, April 25th. Five research analysts have rated the stock with a sell rating, twenty-six have assigned a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, Intel currently has a consensus rating of "Hold" and an average price target of $21.76.

Intel 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.

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