Telligent Fund LP Purchases New Stake in Intel Corporation (NASDAQ:INTC)

Key Points

• Telligent Fund LP acquired 150,000 shares of Intel Corporation, approximately valued at $3.4 million, making it the 10th largest position in their portfolio.
• Hedge funds and institutional investors own 64.53% of Intel's stock, with various firms making new stake acquisitions valued between $25,000 and $30,000.
• Analyst ratings on Intel reveal a consensus "Hold" rating, with significant revisions in target prices, including decreases from Morgan Stanley and Wedbush and an increase from UBS Group.

Telligent Fund LP acquired a new position in shares of Intel Corporation (NASDAQ:INTC - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 150,000 shares of the chip maker's stock, valued at approximately $3,406,000. Intel comprises approximately 3.8% of Telligent Fund LP's holdings, making the stock its 10th largest holding.

Other hedge funds have also recently modified their holdings of the company. FMR LLC boosted its stake in Intel by 4.3% during the fourth quarter. FMR LLC now owns 5,878,501 shares of the chip maker's stock worth $117,864,000 after buying an additional 242,544 shares during the period. Raymond James Financial Inc. purchased a new position in Intel in the fourth quarter worth approximately $53,465,000. Bessemer Group Inc. raised its stake in Intel by 1.1% during the 4th quarter. Bessemer Group Inc. now owns 63,101 shares of the chip maker's stock worth $1,265,000 after acquiring an additional 715 shares in the last quarter. Townsquare Capital LLC raised its stake in Intel by 12.3% during the 4th quarter. Townsquare Capital LLC now owns 68,607 shares of the chip maker's stock worth $1,376,000 after acquiring an additional 7,498 shares in the last quarter. Finally, Sagespring Wealth Partners LLC acquired a new stake in Intel during the 4th quarter worth $270,000. Hedge funds and other institutional investors own 64.53% of the company's stock.

Intel Price Performance

Shares of NASDAQ INTC traded up $1.64 during midday trading on Thursday, hitting $23.86. The company had a trading volume of 179,267,562 shares, compared to its average volume of 94,785,242. The company has a quick ratio of 0.92, a current ratio of 1.24 and a debt-to-equity ratio of 0.42. Intel Corporation has a twelve month low of $17.67 and a twelve month high of $27.55. The business has a 50-day simple moving average of $21.65 and a two-hundred day simple moving average of $21.49. The firm has a market capitalization of $104.44 billion, a price-to-earnings ratio of -5.00 and a beta of 1.22.

Intel (NASDAQ:INTC - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The chip maker reported ($0.10) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.11). The company 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%. The firm's revenue for the quarter was up .5% on a year-over-year basis. During the same quarter last year, the business earned $0.02 EPS. Equities research analysts anticipate that Intel Corporation will post -0.11 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently commented on INTC shares. Susquehanna cut their price target on shares of Intel from $24.00 to $22.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 16th. Wall Street Zen lowered shares of Intel from a "hold" rating to a "sell" rating in a research note on Saturday, July 26th. Needham & Company LLC reaffirmed a "hold" rating on shares of Intel in a report on Friday, July 25th. Morgan Stanley cut their target price on shares of Intel from $25.00 to $23.00 and set an "equal weight" rating on the stock in a report on Friday, April 25th. Finally, Wells Fargo & Company cut their target price on shares of Intel from $25.00 to $22.00 and set an "equal weight" rating on the stock in a report on Friday, April 25th. Six investment analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $22.17.

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.