Alight Capital Management LP has expanded its portfolio by acquiring 400,000 shares of Intel Co. (NASDAQ: INTC) in the first quarter, as indicated in their recent 13F filing with the Securities and Exchange Commission. The total value of this acquisition amounts to approximately $13,068,000. Intel now constitutes about 7.0% of Alight Capital Management LP’s holdings, making it their second-largest position.
Additionally, several other hedge funds have made adjustments to their positions in Intel. Cantor Fitzgerald Investment Advisor L.P increased its stake in Intel by 173.6% during the first quarter, now owning 539,976 shares valued at $26,761,000 after purchasing an additional 342,649 shares. Axiom Financial Strategies LLC also boosted its Intel holdings by 21.6% in the first quarter, possessing 5,944 shares valued at $260,000 after acquiring an additional 1,056 shares. Fairfield Bush & CO. joined the list of Intel investors during the first quarter, with a new position valued at $142,000. Furthermore, Retirement Income Solutions Inc increased its stake in Intel by 5.1% during the first quarter, now holding 6,338 shares valued at $314,000 after an additional purchase of 307 shares. Lastly, Mirae Asset Global Investments Co. Ltd. increased its Intel holdings by 26.9% during the first quarter, owning 5,863,459 shares valued at $290,593,000 after acquiring an additional 1,244,247 shares. Hedge funds and other institutional investors currently account for 60.84% of the company’s stock.
Intel’s Stock on the Rise
Shares of NASDAQ: INTC experienced a positive uptick of $0.42 during Monday’s trading session, reaching a price of $38.43. A total of 15,305,877 shares were exchanged, compared to the average daily volume of 42,998,473. Intel Co. has exhibited a 1-year low of $24.59 and a 1-year high of $38.83. The company’s 50-day moving average price stands at $34.41, while the two-hundred day moving average price is $31.81. Intel maintains a current ratio of 1.60, a quick ratio of 1.15, and a debt-to-equity ratio of 0.44. The company boasts a market capitalization of $160.94 billion, a P/E ratio of -172.76, and a beta of 0.89.
Intel’s Recent Earnings and Dividend Announcement
Intel (NASDAQ: INTC) recently reported its quarterly earnings on Thursday, July 27th. The chip manufacturer exceeded expectations by reporting earnings per share (EPS) of ($0.05), surpassing the consensus estimate of ($0.19) by $0.14. Intel reported a negative net margin of 1.71% but a positive return on equity of 1.70%. The company also posted revenue of $12.95 billion for the quarter, outperforming analysts’ projections of $12.03 billion. Analysts anticipate that Intel Co. will report earnings per share of -0.11 for the current fiscal year.
Furthermore, Intel announced a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record as of Monday, August 7th received a dividend of $0.125 per share. This equates to an annualized dividend of $0.50 and a dividend yield of 1.30%. The ex-dividend date for this dividend was Friday, August 4th. Intel’s dividend payout ratio is currently -227.26%.
Insider Transactions and Analyst Forecasts
In recent news, CEO Patrick P. Gelsinger acquired 3,850 shares of Intel’s stock on Wednesday, August 2nd, at an average price of $34.63 per share, amounting to a total transaction of $133,325.50. Following this acquisition, the CEO now holds 105,495 shares in the company, valued at $3,653,291.85. This transaction was disclosed in a document filed with the SEC, available at this hyperlink. Additionally, CEO Patrick P. Gelsinger purchased 3,250 shares of the company’s stock on Monday, July 31st, at an average price of $35.87 per share, with a total transaction value of $116,577.50. Following this purchase, the CEO now holds 139,715 shares of the company’s stock, valued at approximately $5,011,577.05. The disclosure for this acquisition can be found here. Corporate insiders own 0.04% of Intel’s stock.
Wall Street analysts have weighed in on Intel’s prospects, with mixed opinions. Mizuho raised their price target on Intel from $33.00 to $36.00 and gave it a “neutral” rating. UBS Group increased their price target to $38.00 and also rated it “neutral.” Citigroup upped their price target to $34.00, maintaining a “neutral” rating. BMO Capital Markets increased their price target to $36.00 and gave it a “market perform” rating. Lastly, Tigress Financial reduced their target price from $72.00 to $46.00 but maintained a “buy” rating. According to MarketBeat.com, the consensus rating for Intel is “Hold,” with an average price target of $33.55.
About Intel Corporation
Intel Corporation engages in the design, development, manufacture, marketing, and sale of computing and related products globally. It operates through various segments, including the Client Computing Group, Data Center and AI, Network and Edge, Mobileye, Accelerated Computing Systems and Graphics, Intel Foundry Services, and Others. The company offers an array of platform products, including central processing units and chipsets, as well as system-on-chip and multichip packages. Additionally, it provides accelerators, boards and systems, connectivity products, and memory and storage products.
For more information on Intel and its holdings, please visit HoldingsChannel.com to access the latest 13F filings and insider trades related to Intel Co. (NASDAQ: INTC).
Institutional Ownership Trends for Intel (NASDAQ: INTC)
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