Discovery Capital Management LLC CT Invests $2.45 Million in Intel Co. (NASDAQ:INTC)

Discovery Capital Management LLC CT acquired a new stake in Intel Co. (NASDAQ:INTC) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 79,000 shares of the chip maker’s stock, valued at approximately $2,447,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in INTC. DDFG Inc purchased a new position in Intel in the 4th quarter worth approximately $205,000. Gryphon Financial Partners LLC lifted its position in Intel by 8.2% during the fourth quarter. Gryphon Financial Partners LLC now owns 21,024 shares of the chip maker’s stock worth $1,060,000 after buying an additional 1,601 shares in the last quarter. Orion Portfolio Solutions LLC boosted its stake in Intel by 3.1% during the fourth quarter. Orion Portfolio Solutions LLC now owns 98,320 shares of the chip maker’s stock worth $4,764,000 after buying an additional 2,915 shares during the last quarter. Congress Wealth Management LLC DE grew its holdings in Intel by 15.8% in the 4th quarter. Congress Wealth Management LLC DE now owns 19,161 shares of the chip maker’s stock valued at $963,000 after buying an additional 2,616 shares in the last quarter. Finally, Johnson Financial Group Inc. increased its stake in shares of Intel by 4.5% in the 4th quarter. Johnson Financial Group Inc. now owns 5,730 shares of the chip maker’s stock worth $288,000 after acquiring an additional 247 shares during the last quarter. Institutional investors and hedge funds own 64.53% of the company’s stock.

Intel Trading Up 3.3 %

Shares of INTC stock opened at $21.84 on Monday. The stock has a market cap of $92.97 billion, a P/E ratio of 22.75 and a beta of 1.03. The company has a quick ratio of 1.24, a current ratio of 1.59 and a debt-to-equity ratio of 0.40. Intel Co. has a fifty-two week low of $18.51 and a fifty-two week high of $51.28. The business has a fifty day simple moving average of $23.67 and a 200-day simple moving average of $30.80.

Intel (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, August 1st. The chip maker reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.08). Intel had a net margin of 1.77% and a return on equity of 1.78%. The business had revenue of $12.80 billion during the quarter, compared to analysts’ expectations of $12.92 billion. During the same period last year, the company earned ($0.05) EPS. The firm’s revenue for the quarter was down .8% on a year-over-year basis. On average, analysts forecast that Intel Co. will post -0.47 earnings per share for the current fiscal year.

Intel Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th were issued a $0.125 dividend. The ex-dividend date was Wednesday, August 7th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.29%. Intel’s dividend payout ratio (DPR) is 52.08%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on INTC. The Goldman Sachs Group lowered their price target on shares of Intel from $29.00 to $22.00 and set a “sell” rating on the stock in a research report on Friday, August 2nd. Wedbush reduced their price target on shares of Intel from $32.50 to $25.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Deutsche Bank Aktiengesellschaft cut their target price on Intel from $38.00 to $27.00 and set a “hold” rating on the stock in a research report on Friday, August 2nd. Barclays lowered their price target on Intel from $40.00 to $25.00 and set an “equal weight” rating for the company in a research report on Friday, August 2nd. Finally, Raymond James downgraded Intel from an “outperform” rating to a “market perform” rating in a report on Friday, August 2nd. Six research analysts have rated the stock with a sell rating, twenty-four have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $32.04.

Insider Activity at Intel

In other news, CEO Patrick P. Gelsinger bought 12,500 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was purchased at an average price of $20.16 per share, with a total value of $252,000.00. Following the purchase, the chief executive officer now owns 37,975 shares of the company’s stock, valued at approximately $765,576. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate 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.