Coldstream Capital Management Inc. bought a new stake in Intel Co. (NASDAQ:INTC – Get Rating) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 82,704 shares of the chip maker’s stock, valued at approximately $2,186,000.
Several other hedge funds and other institutional investors have also made changes to their positions in INTC. O Dell Group LLC boosted its position in Intel by 258.1% during the third quarter. O Dell Group LLC now owns 974 shares of the chip maker’s stock worth $25,000 after purchasing an additional 702 shares during the period. Islay Capital Management LLC bought a new position in Intel during the third quarter worth $26,000. Mach 1 Financial Group LLC bought a new position in Intel during the third quarter worth $29,000. Grayhawk Investment Strategies Inc. bought a new position in Intel during the second quarter worth $36,000. Finally, Lowe Wealth Advisors LLC boosted its position in Intel by 46.2% during the third quarter. Lowe Wealth Advisors LLC now owns 1,592 shares of the chip maker’s stock worth $41,000 after purchasing an additional 503 shares during the period. 59.48% of the stock is owned by institutional investors.
Insider Activity at Intel
In related news, CFO David Zinsner bought 1,800 shares of Intel stock in a transaction that occurred on Monday, January 30th. The shares were acquired at an average cost of $27.89 per share, for a total transaction of $50,202.00. Following the completion of the acquisition, the chief financial officer now directly owns 17,450 shares of the company’s stock, valued at approximately $486,680.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Intel news, CEO Patrick P. Gelsinger purchased 9,700 shares of the company’s stock in a transaction on Thursday, February 23rd. The shares were purchased at an average cost of $25.68 per share, with a total value of $249,096.00. Following the completion of the purchase, the chief executive officer now owns 18,700 shares in the company, valued at $480,216. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO David Zinsner purchased 1,800 shares of the company’s stock in a transaction on Monday, January 30th. The stock was acquired at an average cost of $27.89 per share, for a total transaction of $50,202.00. Following the completion of the purchase, the chief financial officer now owns 17,450 shares of the company’s stock, valued at approximately $486,680.50. The disclosure for this purchase can be found here. Insiders have purchased 20,500 shares of company stock worth $549,768 over the last ninety days. Insiders own 0.02% of the company’s stock.
Intel Stock Performance
Intel (NASDAQ:INTC – Get Rating) last released its quarterly earnings results on Thursday, January 26th. The chip maker reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.10). The firm had revenue of $14.04 billion for the quarter, compared to the consensus estimate of $14.49 billion. Intel had a return on equity of 7.45% and a net margin of 12.71%. The business’s revenue for the quarter was down 31.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.09 earnings per share. Equities research analysts anticipate that Intel Co. will post 0.55 earnings per share for the current year.
Intel Cuts Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, June 1st. Investors of record on Sunday, May 7th will be issued a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 1.68%. The ex-dividend date is Thursday, May 4th. Intel’s payout ratio is presently 74.49%.
Wall Street Analysts Forecast Growth
A number of research firms have commented on INTC. Mizuho reduced their price objective on shares of Intel from $32.00 to $29.00 and set a “neutral” rating for the company in a research report on Friday, January 27th. Morgan Stanley raised shares of Intel from an “underweight” rating to an “equal weight” rating and reduced their price objective for the stock from $29.50 to $28.00 in a research report on Thursday, February 23rd. Susquehanna raised Intel from a “negative” rating to a “neutral” rating and lifted their target price for the stock from $23.00 to $26.00 in a report on Thursday. Cowen began coverage on Intel in a report on Monday, November 21st. They set a “market perform” rating and a $31.00 target price for the company. Finally, Wells Fargo & Company dropped their target price on Intel from $32.00 to $26.00 and set an “equal weight” rating for the company in a report on Friday, January 27th. Eight research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Intel currently has an average rating of “Hold” and a consensus price target of $29.38.
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 and AI (DCAI), Network and Edge (NEX), Mobileye, Accelerated Computing Systems and Graphics (AXG), Intel Foundry Services (IFS), and All Other.
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