Los Angeles Capital Management LLC raised its stake in Intel Co. (NASDAQ:INTC - Free Report) by 217.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 961,016 shares of the chip maker's stock after acquiring an additional 657,874 shares during the quarter. Los Angeles Capital Management LLC's holdings in Intel were worth $48,291,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of INTC. Vanguard Group Inc. boosted its stake in Intel by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 381,109,738 shares of the chip maker's stock valued at $13,548,451,000 after purchasing an additional 1,624,453 shares during the period. Primecap Management Co. CA lifted its holdings in shares of Intel by 6.0% during the third quarter. Primecap Management Co. CA now owns 74,762,291 shares of the chip maker's stock worth $2,657,799,000 after buying an additional 4,226,790 shares in the last quarter. Northern Trust Corp boosted its position in shares of Intel by 3.7% in the third quarter. Northern Trust Corp now owns 46,003,776 shares of the chip maker's stock valued at $1,635,434,000 after acquiring an additional 1,626,127 shares during the period. Invesco Ltd. grew its stake in shares of Intel by 13.4% in the third quarter. Invesco Ltd. now owns 35,788,068 shares of the chip maker's stock valued at $1,272,266,000 after acquiring an additional 4,222,381 shares in the last quarter. Finally, Wellington Management Group LLP increased its position in Intel by 17.8% during the third quarter. Wellington Management Group LLP now owns 34,564,037 shares of the chip maker's stock worth $1,228,752,000 after acquiring an additional 5,217,549 shares during the period. 64.53% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of research analysts have issued reports on INTC shares. JPMorgan Chase & Co. decreased their target price on shares of Intel from $37.00 to $35.00 and set an "underweight" rating on the stock in a research report on Friday, April 26th. Wells Fargo & Company reduced their price target on Intel from $43.00 to $38.00 and set an "equal weight" rating on the stock in a research report on Friday, April 26th. The Goldman Sachs Group dropped their price objective on Intel from $39.00 to $34.00 and set a "sell" rating for the company in a report on Friday, April 26th. Citigroup decreased their price target on Intel from $47.50 to $40.00 and set a "neutral" rating on the stock in a research report on Monday, April 15th. Finally, Roth Mkm cut their price objective on shares of Intel from $45.00 to $35.00 and set a "neutral" rating for the company in a research report on Friday, April 26th. Four equities research analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $39.75.
View Our Latest Stock Analysis on Intel
Intel Trading Up 1.3 %
NASDAQ:INTC traded up $0.39 during mid-day trading on Friday, hitting $30.90. 36,731,368 shares of the company's stock were exchanged, compared to its average volume of 48,594,387. The company has a 50 day simple moving average of $39.84 and a 200-day simple moving average of $42.06. The firm has a market capitalization of $131.54 billion, a P/E ratio of 32.19, a PEG ratio of 9.88 and a beta of 1.09. Intel Co. has a fifty-two week low of $26.85 and a fifty-two week high of $51.28. The company has a current ratio of 1.57, a quick ratio of 1.14 and a debt-to-equity ratio of 0.43.
Intel Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Tuesday, May 7th will be issued a $0.125 dividend. The ex-dividend date of this dividend is Monday, May 6th. This represents a $0.50 dividend on an annualized basis and a yield of 1.62%. Intel's payout ratio is 52.08%.
Insider Buying and Selling
In related news, CEO Patrick P. Gelsinger acquired 4,100 shares of the business's stock in a transaction that occurred on Wednesday, May 1st. The shares were bought at an average cost of $30.29 per share, with a total value of $124,189.00. Following the completion of the purchase, the chief executive officer now directly owns 39,375 shares in the company, valued at $1,192,668.75. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Patrick P. Gelsinger bought 4,100 shares of the stock in a transaction that occurred on Wednesday, May 1st. The stock was acquired at an average price of $30.29 per share, with a total value of $124,189.00. Following the completion of the purchase, the chief executive officer now directly owns 39,375 shares of the company's stock, valued at $1,192,668.75. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Patrick P. Gelsinger purchased 4,000 shares of the business's stock in a transaction on Monday, April 29th. The shares were purchased at an average cost of $31.42 per share, for a total transaction of $125,680.00. Following the transaction, the chief executive officer now directly owns 35,275 shares of the company's stock, valued at approximately $1,108,340.50. The disclosure for this purchase can be found here. 0.04% of the stock is owned by corporate insiders.
About Intel
(
Free Report)
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.
Further Reading
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