Bank of Nova Scotia Has $51.81 Million Stock Position in Intel Corporation (NASDAQ:INTC)

Bank of Nova Scotia increased its position in shares of Intel Corporation (NASDAQ:INTC) by 13.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,281,050 shares of the chip maker’s stock after buying an additional 274,193 shares during the period. Bank of Nova Scotia owned 0.05% of Intel worth $51,806,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Cornerstone Advisory LLC boosted its holdings in shares of Intel by 4.3% during the 4th 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 period. Evergreen Capital Management LLC boosted its holdings 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 purchasing an additional 419 shares during the period. Federated Hermes Inc. boosted its holdings 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 purchasing an additional 456 shares during the period. Verdence Capital Advisors LLC boosted its holdings in Intel by 1.1% in the 1st quarter. Verdence Capital Advisors LLC now owns 45,682 shares of the chip maker’s stock valued at $1,037,000 after purchasing an additional 486 shares during the period. Finally, one8zero8 LLC boosted its holdings in Intel by 4.2% in the 1st quarter. one8zero8 LLC now owns 12,320 shares of the chip maker’s stock valued at $280,000 after purchasing an additional 500 shares during the period. 64.53% of the stock is owned by institutional investors.

Analysts Set New Price Targets

INTC has been the subject of a number of research reports. JPMorgan Chase & Co. increased their price target on shares of Intel from $20.00 to $21.00 and gave the company an “underweight” rating in a report on Friday, July 25th. Morgan Stanley reduced their price target on shares of Intel from $25.00 to $23.00 and set an “equal weight” rating for the company in a report on Friday, April 25th. Mizuho increased their price target on shares of Intel from $22.00 to $23.00 and gave the company a “neutral” rating in a report on Thursday, July 3rd. Susquehanna reduced their price target on shares of Intel from $24.00 to $22.00 and set a “neutral” rating for the company in a report on Wednesday, April 16th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Intel in a report on Friday, July 25th. Six equities research analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $22.17.

Intel Price Performance

NASDAQ:INTC opened at $19.31 on Friday. The firm has a market cap of $84.52 billion, a PE ratio of -4.05 and a beta of 1.22. Intel Corporation has a 12 month low of $17.67 and a 12 month high of $27.55. The company has a quick ratio of 0.92, a current ratio of 1.24 and a debt-to-equity ratio of 0.42. The company’s 50-day moving average price is $21.58 and its two-hundred day moving average price is $21.52.

Intel (NASDAQ:INTC) last released its quarterly earnings results on Thursday, July 24th. The chip maker reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.11). The firm had revenue of $12.86 billion during the quarter, compared to analyst estimates of $11.88 billion. Intel had a negative net margin of 38.64% and a negative return on equity of 3.78%. Intel’s quarterly revenue was up .5% on a year-over-year basis. During the same quarter last year, the firm earned $0.02 earnings per share. On average, equities analysts anticipate that Intel Corporation will post -0.11 EPS for the current fiscal 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.