Stevens Capital Management LP bought a new stake in shares of Intel Co. (NASDAQ:INTC) in the second quarter, HoldingsChannel reports. The institutional investor bought 40,496 shares of the chip maker’s stock, valued at approximately $2,273,000. Intel accounts for approximately 0.7% of Stevens Capital Management LP’s portfolio, making the stock its 24th largest position.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Roble Belko & Company Inc raised its position in Intel by 125.9% during the 1st quarter. Roble Belko & Company Inc now owns 497 shares of the chip maker’s stock valued at $32,000 after purchasing an additional 277 shares in the last quarter. Harvest Group Wealth Management LLC purchased a new position in shares of Intel in the 2nd quarter valued at $30,000. Smith Asset Management Group LP purchased a new position in shares of Intel in the 2nd quarter valued at $34,000. Clear Perspectives Financial Planning LLC increased its holdings in shares of Intel by 189.2% in the 2nd quarter. Clear Perspectives Financial Planning LLC now owns 1,070 shares of the chip maker’s stock valued at $60,000 after acquiring an additional 700 shares during the period. Finally, Aspire Private Capital LLC increased its holdings in shares of Intel by 60.4% in the 1st quarter. Aspire Private Capital LLC now owns 1,169 shares of the chip maker’s stock valued at $75,000 after acquiring an additional 440 shares during the period. 62.24% of the stock is owned by institutional investors and hedge funds.
INTC has been the topic of a number of analyst reports. Jefferies Financial Group cut their price target on Intel from $54.00 to $52.00 and set a “hold” rating on the stock in a report on Friday, July 23rd. Robert W. Baird reiterated a “buy” rating and issued a $85.00 price target on shares of Intel in a report on Friday, July 16th. Credit Suisse Group set a $52.62 target price on Intel in a research note on Tuesday, July 27th. Deutsche Bank Aktiengesellschaft began coverage on Intel in a research note on Wednesday, September 8th. They set a “hold” rating and a $58.00 target price on the stock. Finally, Bank of America dropped their target price on Intel from $62.00 to $52.00 and set an “underperform” rating on the stock in a research note on Friday, July 23rd. Eleven research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, Intel presently has an average rating of “Hold” and a consensus price target of $60.65.
Intel (NASDAQ:INTC) last announced its earnings results on Thursday, July 22nd. The chip maker reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.22. Intel had a return on equity of 27.24% and a net margin of 23.91%. The business had revenue of $18.50 billion during the quarter, compared to analysts’ expectations of $17.80 billion. During the same quarter in the prior year, the firm earned $1.23 earnings per share. The business’s revenue was up 1.6% compared to the same quarter last year. Equities analysts forecast that Intel Co. will post 4.79 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 1st. Shareholders of record on Sunday, November 7th will be issued a dividend of $0.3475 per share. The ex-dividend date is Thursday, November 4th. This represents a $1.39 dividend on an annualized basis and a dividend yield of 2.55%. Intel’s payout ratio is currently 26.23%.
Intel Corp. engages in the design, manufacture, and sale of computer products and technologies. It delivers computer, networking, data storage, and communications platforms. The firm operates through the following segments: Client Computing Group (CCG), Data Center Group (DCG), Internet of Things Group (IOTG), Non-Volatile Memory Solutions Group (NSG), Programmable Solutions (PSG), and All Other.
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