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

Norges Bank bought a new stake in Intel Co. (NASDAQ:INTC - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 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 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Dunhill Financial LLC grew its position in shares of Intel by 22.6% in the 3rd quarter. Dunhill Financial LLC now owns 2,380 shares of the chip maker's stock valued at $56,000 after buying an additional 438 shares during the last quarter. CFM Wealth Partners LLC lifted its stake in shares of Intel by 4.0% in the fourth quarter. CFM Wealth Partners LLC now owns 13,114 shares of the chip maker's stock worth $263,000 after acquiring an additional 500 shares during the period. Ausdal Financial Partners Inc. boosted its holdings in Intel by 2.0% in the fourth quarter. Ausdal Financial Partners Inc. now owns 24,963 shares of the chip maker's stock valued at $501,000 after acquiring an additional 500 shares during the last quarter. Wealth Quarterback LLC increased its position in Intel by 2.0% during the 4th quarter. Wealth Quarterback LLC now owns 25,458 shares of the chip maker's stock valued at $510,000 after purchasing an additional 508 shares during the period. Finally, Missouri Trust & Investment Co raised its holdings in Intel by 3.6% during the 4th quarter. Missouri Trust & Investment Co now owns 15,650 shares of the chip maker's stock worth $314,000 after purchasing an additional 550 shares during the last quarter. Institutional investors and hedge funds own 64.53% of the company's stock.

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Intel Stock Performance

NASDAQ:INTC traded down $0.91 during trading on Friday, reaching $22.71. The company's stock had a trading volume of 58,184,763 shares, compared to its average volume of 74,652,140. The firm has a market cap of $98.33 billion, a price-to-earnings ratio of -5.18 and a beta of 1.02. Intel Co. has a 12 month low of $18.51 and a 12 month high of $45.41. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.98 and a current ratio of 1.33. The firm has a 50 day moving average of $22.33 and a 200-day moving average of $22.15.

Intel (NASDAQ:INTC - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The chip maker reported ($0.02) earnings per share (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%. Research analysts expect that Intel Co. will post -0.11 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on INTC shares. Hsbc Global Res upgraded shares of Intel from a "moderate sell" rating to a "hold" rating in a research report on Tuesday, January 21st. Mizuho lowered their price objective on Intel from $23.00 to $21.00 and set a "neutral" rating for the company in a research report on Friday, January 10th. JPMorgan Chase & Co. cut their target price on Intel from $26.00 to $23.00 and set an "underweight" rating on the stock in a research report on Friday, January 31st. UBS Group lowered their target price on Intel from $26.00 to $23.00 and set a "neutral" rating for the company in a report on Tuesday, January 21st. Finally, Stifel Nicolaus dropped their target price on shares of Intel from $25.00 to $21.00 and set a "hold" rating on the stock in a research report on Friday, January 31st. Four analysts have rated the stock with a sell rating, twenty-eight have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $27.04.

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.