Zenyatta Capital Management LP acquired a new stake in Intel Co. (NASDAQ:INTC – Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 350,000 shares of the chip maker’s stock, valued at approximately $11,704,000. Intel comprises approximately 7.4% of Zenyatta Capital Management LP’s investment portfolio, making the stock its 6th biggest position.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Biechele Royce Advisors increased its holdings in shares of Intel by 1.1% in the second quarter. Biechele Royce Advisors now owns 256,657 shares of the chip maker’s stock worth $8,583,000 after acquiring an additional 2,863 shares in the last quarter. Palisade Asset Management LLC increased its holdings in shares of Intel by 0.8% in the second quarter. Palisade Asset Management LLC now owns 173,825 shares of the chip maker’s stock worth $5,813,000 after acquiring an additional 1,425 shares in the last quarter. Chicago Partners Investment Group LLC increased its holdings in shares of Intel by 65.3% in the second quarter. Chicago Partners Investment Group LLC now owns 45,819 shares of the chip maker’s stock worth $1,576,000 after acquiring an additional 18,094 shares in the last quarter. Capital Square LLC bought a new stake in shares of Intel in the second quarter worth about $207,000. Finally, Ropes Wealth Advisors LLC boosted its position in shares of Intel by 6.3% during the second quarter. Ropes Wealth Advisors LLC now owns 65,326 shares of the chip maker’s stock worth $2,185,000 after buying an additional 3,884 shares during the period. Institutional investors own 60.84% of the company’s stock.
Insiders Place Their Bets
In related news, CEO Patrick P. Gelsinger acquired 6,775 shares of the stock in a transaction on Wednesday, November 1st. The shares were purchased at an average price of $36.80 per share, for a total transaction of $249,320.00. Following the purchase, the chief executive officer now directly owns 25,475 shares in the company, valued at $937,480. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.04% of the company’s stock.
Intel Stock Performance
Shares of NASDAQ INTC traded up $0.27 during trading hours on Tuesday, reaching $38.22. 3,480,750 shares of the stock were exchanged, compared to its average volume of 41,856,242. The firm has a market capitalization of $161.14 billion, a price-to-earnings ratio of -94.87, a P/E/G ratio of 14.21 and a beta of 0.88. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.13 and a current ratio of 1.53. Intel Co. has a 52 week low of $24.73 and a 52 week high of $40.07. The stock’s fifty day simple moving average is $36.08 and its 200 day simple moving average is $33.74.
Intel (NASDAQ:INTC – Get Free Report) last announced its earnings results on Thursday, October 26th. The chip maker reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.20. The company had revenue of $14.20 billion for the quarter, compared to analyst estimates of $13.57 billion. Intel had a positive return on equity of 0.49% and a negative net margin of 3.11%. The firm’s quarterly revenue was down 7.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.59 earnings per share. Sell-side analysts predict that Intel Co. will post 0.19 EPS for the current year.
Intel Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Tuesday, November 7th will be paid a dividend of $0.125 per share. The ex-dividend date is Monday, November 6th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.31%. Intel’s dividend payout ratio (DPR) is currently -125.00%.
Analyst Ratings Changes
Several research analysts have recently weighed in on INTC shares. Robert W. Baird upped their price objective on Intel from $32.00 to $40.00 and gave the stock a “neutral” rating in a research report on Friday, July 28th. BMO Capital Markets upped their price objective on Intel from $32.00 to $36.00 and gave the stock a “market perform” rating in a research report on Friday, July 28th. Susquehanna upped their price objective on Intel from $37.00 to $38.00 and gave the stock a “neutral” rating in a research report on Thursday, October 19th. UBS Group upped their price objective on Intel from $35.00 to $38.00 and gave the stock a “neutral” rating in a research report on Friday, July 28th. Finally, Wedbush upped their price objective on Intel from $30.00 to $35.00 and gave the stock a “neutral” rating in a research report on Friday, July 28th. Four research analysts have rated the stock with a sell rating, twenty-two have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $35.09.
Check Out Our Latest Analysis on INTC
Intel Company Profile
Intel Corporation designs, develops, manufactures, markets, and sells computing and related products worldwide. It operates through Client Computing Group, Data Center and AI, Network and Edge, Mobileye, Accelerated Computing Systems and Graphics, Intel Foundry Services, and Other segments. The company offers platform products, such as central processing units and chipsets, and system-on-chip and multichip packages; and accelerators, boards and systems, connectivity products, and memory and storage products.
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