Convergence Investment Partners LLC Increases Stake in Intel Co. (NASDAQ:INTC)

Convergence Investment Partners LLC lifted its stake in shares of Intel Co. (NASDAQ:INTC) by 26.3% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 24,814 shares of the chip maker’s stock after buying an additional 5,166 shares during the period. Convergence Investment Partners LLC’s holdings in Intel were worth $1,247,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Barrett & Company Inc. grew its position in Intel by 6.1% during the 4th quarter. Barrett & Company Inc. now owns 3,662 shares of the chip maker’s stock worth $184,000 after purchasing an additional 210 shares during the last quarter. Revolve Wealth Partners LLC boosted its holdings in shares of Intel by 3.0% in the 4th quarter. Revolve Wealth Partners LLC now owns 7,397 shares of the chip maker’s stock valued at $372,000 after acquiring an additional 216 shares during the last quarter. New Millennium Group LLC boosted its holdings in shares of Intel by 87.2% in the 4th quarter. New Millennium Group LLC now owns 496 shares of the chip maker’s stock valued at $25,000 after acquiring an additional 231 shares during the last quarter. Waldron Private Wealth LLC boosted its holdings in shares of Intel by 0.6% in the 4th quarter. Waldron Private Wealth LLC now owns 41,074 shares of the chip maker’s stock valued at $2,063,000 after acquiring an additional 232 shares during the last quarter. Finally, Spreng Capital Management Inc. boosted its holdings in shares of Intel by 1.3% in the 4th quarter. Spreng Capital Management Inc. now owns 19,644 shares of the chip maker’s stock valued at $987,000 after acquiring an additional 246 shares during the last quarter. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on INTC shares. Raymond James dropped their price objective on shares of Intel from $54.00 to $52.00 and set an “outperform” rating on the stock in a report on Friday, January 26th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $45.00 price objective on shares of Intel in a report on Wednesday, April 3rd. JPMorgan Chase & Co. decreased their target price on shares of Intel from $37.00 to $35.00 and set an “underweight” rating for the company in a research note on Friday. Roth Mkm decreased their target price on shares of Intel from $45.00 to $35.00 and set a “neutral” rating for the company in a research note on Friday. Finally, Susquehanna decreased their target price on shares of Intel from $40.00 to $35.00 and set a “neutral” rating for the company in a research note on Friday. Four analysts have rated the stock with a sell rating, twenty-one have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $39.75.

Insiders Place Their Bets

In related news, CEO Patrick P. Gelsinger bought 2,800 shares of the stock in a transaction on Thursday, February 1st. The stock was bought at an average price of $42.74 per share, with a total value of $119,672.00. Following the completion of the purchase, the chief executive officer now directly owns 31,275 shares in the company, valued at approximately $1,336,693.50. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Intel news, CEO Patrick P. Gelsinger purchased 2,800 shares of Intel stock in a transaction dated Thursday, February 1st. The shares were acquired at an average price of $42.74 per share, with a total value of $119,672.00. Following the completion of the transaction, the chief executive officer now owns 31,275 shares of the company’s stock, valued at $1,336,693.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Patrick P. Gelsinger purchased 3,000 shares of Intel stock in a transaction dated Monday, January 29th. The shares were acquired at an average cost of $43.36 per share, for a total transaction of $130,080.00. Following the transaction, the chief executive officer now directly owns 28,475 shares of the company’s stock, valued at approximately $1,234,676. The disclosure for this purchase can be found here. 0.04% of the stock is currently owned by insiders.

Intel Trading Down 9.2 %

INTC stock traded down $3.23 during mid-day trading on Friday, hitting $31.88. 119,742,494 shares of the company were exchanged, compared to its average volume of 50,613,192. The company has a quick ratio of 1.15, a current ratio of 1.54 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $134.79 billion, a P/E ratio of 33.21, a PEG ratio of 2.89 and a beta of 1.00. The business has a fifty day simple moving average of $40.88 and a 200-day simple moving average of $42.27. Intel Co. has a 12-month low of $26.85 and a 12-month high of $51.28.

Intel (NASDAQ:INTC) last announced its earnings results on Thursday, January 25th. The chip maker reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.27. The company had revenue of $15.40 billion during the quarter, compared to analyst estimates of $15.16 billion. Intel had a net margin of 7.36% and a return on equity of 2.22%. Intel’s revenue was up 9.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.10 earnings per share. On average, equities research analysts predict that Intel Co. will post 0.6 earnings per share for the current fiscal year.

Intel Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Tuesday, May 7th will be paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 1.57%. The ex-dividend date of this dividend is Monday, May 6th. Intel’s dividend payout ratio (DPR) is presently 52.08%.

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.