Sciencast Management LP Buys New Shares in Intel Co. (NASDAQ:INTC)

Sciencast Management LP purchased a new stake in shares of Intel Co. (NASDAQ:INTC) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 33,169 shares of the chip maker’s stock, valued at approximately $1,465,000.

A number of other hedge funds have also recently bought and sold shares of the stock. Barrett & Company Inc. increased its holdings in Intel by 6.1% during the fourth quarter. Barrett & Company Inc. now owns 3,662 shares of the chip maker’s stock worth $184,000 after buying an additional 210 shares during the last quarter. Revolve Wealth Partners LLC raised 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 purchasing an additional 216 shares during the period. New Millennium Group LLC lifted its stake in 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 purchasing an additional 231 shares during the last quarter. Waldron Private Wealth LLC lifted its stake in 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 purchasing an additional 232 shares during the last quarter. Finally, Spreng Capital Management Inc. increased its position in Intel by 1.3% during the fourth quarter. Spreng Capital Management Inc. now owns 19,644 shares of the chip maker’s stock worth $987,000 after buying an additional 246 shares during the last quarter. 64.53% of the stock is currently owned by institutional investors.

Intel Price Performance

Shares of Intel stock traded up $0.99 during trading on Friday, reaching $34.49. 62,738,180 shares of the company’s stock were exchanged, compared to its average volume of 47,343,211. The firm’s 50-day moving average price is $31.16 and its 200 day moving average price is $38.60. The company has a market cap of $146.82 billion, a P/E ratio of 35.93, a PEG ratio of 16.62 and a beta of 1.05. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.14 and a current ratio of 1.57. Intel Co. has a 1-year low of $29.73 and a 1-year high of $51.28.

Intel (NASDAQ:INTC) last issued its earnings results on Thursday, April 25th. The chip maker reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.03). Intel had a return on equity of 2.19% and a net margin of 7.36%. The business had revenue of $12.72 billion for the quarter, compared to analyst estimates of $12.76 billion. As a group, research analysts anticipate that Intel Co. will post 0.09 earnings per share for the current year.

Intel Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Saturday, June 1st. Shareholders of record on Tuesday, May 7th were paid a dividend of $0.125 per share. The ex-dividend date was Monday, May 6th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.45%. Intel’s payout ratio is presently 52.08%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Evercore ISI cut their price objective on Intel from $40.00 to $36.00 and set an “in-line” rating for the company in a research report on Friday, April 26th. Wells Fargo & Company reduced their price objective on shares of Intel from $43.00 to $38.00 and set an “equal weight” rating for the company in a research report on Friday, April 26th. Mizuho dropped their price objective on shares of Intel from $55.00 to $45.00 and set a “buy” rating on the stock in a research report on Friday, April 26th. Jefferies Financial Group initiated coverage on shares of Intel in a report on Monday, May 13th. They set a “hold” rating and a $34.00 target price for the company. Finally, Sanford C. Bernstein lowered their price target on shares of Intel from $42.00 to $35.00 and set a “market perform” rating on the stock in a report on Friday, April 26th. Three research analysts have rated the stock with a sell rating, twenty-three have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Intel presently has an average rating of “Hold” and a consensus target price of $39.58.

Insider Transactions at Intel

In other news, CEO Patrick P. Gelsinger acquired 4,000 shares of Intel stock in a transaction that occurred on Monday, April 29th. The shares were acquired at an average price of $31.42 per share, for a total transaction of $125,680.00. Following the transaction, the chief executive officer now directly owns 35,275 shares of the company’s stock, valued at approximately $1,108,340.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Intel news, CEO Patrick P. Gelsinger acquired 4,100 shares of Intel stock in a transaction that occurred on Wednesday, May 1st. The shares were bought at an average price of $30.29 per share, with a total value of $124,189.00. Following the completion of the purchase, the chief executive officer now directly owns 39,375 shares in the company, valued at approximately $1,192,668.75. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Patrick P. Gelsinger bought 4,000 shares of the business’s stock in a transaction on Monday, April 29th. The shares were bought at an average cost of $31.42 per share, for a total transaction of $125,680.00. Following the completion of the acquisition, the chief executive officer now directly owns 35,275 shares in the company, valued at approximately $1,108,340.50. The disclosure for this purchase can be found here. Company insiders own 0.04% of the company’s stock.

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.