Timelo Investment Management Inc. Takes $1.14 Million Position in Intel Corporation (NASDAQ:INTC)

Key Points

• Timelo Investment Management Inc. has acquired a new position in Intel Corporation, purchasing 50,000 shares worth approximately $1.14 million, which constitutes about 3.3% of its total holdings.
• Other hedge funds like Canada Pension Plan Investment Board and Townsquare Capital LLC have also increased their stakes in Intel, reflecting growing institutional interest.
• Intel reported a quarterly earnings miss with an EPS of ($0.10), against an expected $0.01, while revenue at $12.86 billion exceeded projections, indicating ongoing financial challenges despite stronger sales performance.

Timelo Investment Management Inc. bought a new stake in shares of Intel Corporation (NASDAQ:INTC - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 50,000 shares of the chip maker's stock, valued at approximately $1,136,000. Intel accounts for about 3.3% of Timelo Investment Management Inc.'s holdings, making the stock its 5th largest holding.

Other hedge funds have also recently made changes to their positions in the company. Townsquare Capital LLC boosted its position in shares of Intel by 12.3% during the fourth quarter. Townsquare Capital LLC now owns 68,607 shares of the chip maker's stock valued at $1,376,000 after purchasing an additional 7,498 shares in the last quarter. XTX Topco Ltd bought a new stake in shares of Intel during the fourth quarter valued at approximately $490,000. Evergreen Capital Management LLC boosted its position in shares of Intel by 1.0% during the fourth 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 in the last quarter. Canada Pension Plan Investment Board boosted its position in shares of Intel by 326.8% during the fourth quarter. Canada Pension Plan Investment Board now owns 4,493,306 shares of the chip maker's stock valued at $90,091,000 after purchasing an additional 3,440,628 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co boosted its holdings in Intel by 4.9% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 4,308,299 shares of the chip maker's stock worth $86,381,000 after acquiring an additional 202,695 shares in the last quarter. 64.53% of the stock is owned by hedge funds and other institutional investors.

Intel Stock Performance

Shares of INTC opened at $24.56 on Friday. 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 business has a 50-day simple moving average of $21.81 and a two-hundred day simple moving average of $21.54. The stock has a market cap of $107.50 billion, a price-to-earnings ratio of -5.15 and a beta of 1.22. Intel Corporation has a 52 week low of $17.67 and a 52 week high of $27.55.

Intel (NASDAQ:INTC - Get Free Report) last issued 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 company had revenue of $12.86 billion during the quarter, compared to analysts' expectations of $11.88 billion. Intel had a negative return on equity of 3.78% and a negative net margin of 38.64%. The business's quarterly revenue was up .5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.02 EPS. On average, analysts expect that Intel Corporation will post -0.11 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Morgan Stanley dropped their target price on Intel from $25.00 to $23.00 and set an "equal weight" rating on the stock in a report on Friday, April 25th. Needham & Company LLC reissued a "hold" rating on shares of Intel in a report on Friday, July 25th. Loop Capital assumed coverage on Intel in a report on Monday, July 21st. They issued a "hold" rating and a $25.00 target price on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on Intel in a report on Wednesday, May 21st. They issued a "hold" rating and a $23.00 target price on the stock. Finally, Barclays reissued a "reduce" rating on shares of Intel in a report on Tuesday, April 22nd. Six equities research analysts have rated the stock with a sell rating, twenty-three have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $22.17.

Intel Company 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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