Crew Capital Management Ltd. Makes New Investment in Intel Co. (NASDAQ:INTC)

Crew Capital Management Ltd. bought a new position in Intel Co. (NASDAQ:INTC) in the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 31,150 shares of the chip maker’s stock, valued at approximately $1,565,000. Intel comprises approximately 1.6% of Crew Capital Management Ltd.’s portfolio, making the stock its 14th biggest position.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. California Public Employees Retirement System grew its holdings in shares of Intel by 102.6% during the 4th quarter. California Public Employees Retirement System now owns 16,074,760 shares of the chip maker’s stock worth $807,757,000 after purchasing an additional 8,140,835 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Intel by 18.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 38,720,686 shares of the chip maker’s stock worth $1,376,520,000 after purchasing an additional 6,064,950 shares during the period. Wellington Management Group LLP grew its holdings in shares of Intel by 17.8% during the 3rd quarter. Wellington Management Group LLP now owns 34,564,037 shares of the chip maker’s stock worth $1,228,752,000 after purchasing an additional 5,217,549 shares during the period. Alecta Tjanstepension Omsesidigt purchased a new position in shares of Intel during the 4th quarter worth $251,250,000. Finally, Parnassus Investments LLC grew its holdings in shares of Intel by 24.7% during the 3rd quarter. Parnassus Investments LLC now owns 23,369,134 shares of the chip maker’s stock worth $830,773,000 after purchasing an additional 4,631,905 shares during the period. 64.53% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Patrick P. Gelsinger purchased 2,800 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were bought 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 directly owns 31,275 shares in the company, valued at approximately $1,336,693.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.04% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Wedbush lowered their price target on Intel from $40.00 to $32.50 and set a “neutral” rating for the company in a report on Friday. Needham & Company LLC restated a “hold” rating on shares of Intel in a report on Friday. Sanford C. Bernstein lowered their target price on Intel from $42.00 to $35.00 and set a “market perform” rating for the company in a report on Friday. Stifel Nicolaus restated a “hold” rating and set a $45.00 target price on shares of Intel in a report on Wednesday, April 3rd. Finally, HSBC reduced their price target on Intel from $44.00 to $37.00 and set a “hold” rating on the stock in a research report on Tuesday, April 23rd. Four 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $39.75.

Intel Stock Performance

INTC traded down $0.52 during trading on Monday, hitting $31.36. 58,435,637 shares of the stock were exchanged, compared to its average volume of 48,273,238. The firm has a market capitalization of $132.59 billion, a P/E ratio of 32.66, a PEG ratio of 2.89 and a beta of 1.00. Intel Co. has a 1-year low of $26.85 and a 1-year high of $51.28. The stock has a fifty day moving average price of $40.88 and a two-hundred day moving average price of $42.30. The company has a quick ratio of 1.14, a current ratio of 1.57 and a debt-to-equity ratio of 0.43.

Intel (NASDAQ:INTC) last released its quarterly earnings results on Thursday, January 25th. The chip maker reported $0.54 EPS for the quarter, topping the consensus estimate of $0.27 by $0.27. The company had revenue of $15.40 billion for the quarter, compared to analyst estimates of $15.16 billion. Intel had a return on equity of 2.19% and a net margin of 7.36%. The firm’s revenue was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.10 earnings per share. As a group, sell-side analysts predict that Intel Co. will post 0.6 earnings per share for the current year.

Intel Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Tuesday, May 7th will be given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 1.59%. The ex-dividend date is Monday, May 6th. Intel’s dividend payout ratio (DPR) is 52.08%.

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.