Edgestream Partners L.P. Boosts Stake in Intel Co. (NASDAQ:INTC)

Edgestream Partners L.P. lifted its position in shares of Intel Co. (NASDAQ:INTC) by 74.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,043 shares of the chip maker’s stock after acquiring an additional 5,124 shares during the quarter. Edgestream Partners L.P.’s holdings in Intel were worth $373,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Primecap Management Co. CA boosted its stake in shares of Intel by 2.2% during the 2nd quarter. Primecap Management Co. CA now owns 77,822,587 shares of the chip maker’s stock worth $2,410,166,000 after acquiring an additional 1,697,550 shares in the last quarter. Moors & Cabot Inc. raised its position in shares of Intel by 15.8% during the 2nd quarter. Moors & Cabot Inc. now owns 139,043 shares of the chip maker’s stock worth $4,306,000 after purchasing an additional 19,022 shares during the last quarter. Excalibur Management Corp raised its position in shares of Intel by 8.1% during the 2nd quarter. Excalibur Management Corp now owns 63,070 shares of the chip maker’s stock worth $1,953,000 after purchasing an additional 4,723 shares during the last quarter. WealthPLAN Partners LLC raised its position in shares of Intel by 10.8% during the 2nd quarter. WealthPLAN Partners LLC now owns 87,662 shares of the chip maker’s stock worth $2,715,000 after purchasing an additional 8,534 shares during the last quarter. Finally, Wulff Hansen & CO. raised its position in shares of Intel by 2,425.1% during the 2nd quarter. Wulff Hansen & CO. now owns 945,576 shares of the chip maker’s stock worth $30,532,000 after purchasing an additional 908,129 shares during the last quarter. 64.53% of the stock is owned by hedge funds and other institutional investors.

Intel Stock Performance

NASDAQ:INTC opened at $21.84 on Monday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.24 and a current ratio of 1.59. The stock has a market capitalization of $92.97 billion, a P/E ratio of 22.75 and a beta of 1.03. The company has a 50 day moving average price of $23.67 and a 200 day moving average price of $30.80. Intel Co. has a fifty-two week low of $18.51 and a fifty-two week high of $51.28.

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

Intel Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th were given a $0.125 dividend. The ex-dividend date was Wednesday, August 7th. This represents a $0.50 annualized dividend and a yield of 2.29%. Intel’s dividend payout ratio is presently 52.08%.

Insider Buying and Selling at Intel

In other Intel news, CEO Patrick P. Gelsinger purchased 12,500 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was bought at an average price of $20.16 per share, with a total value of $252,000.00. Following the transaction, the chief executive officer now directly owns 37,975 shares of the company’s stock, valued at approximately $765,576. 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.

Analyst Ratings Changes

Several research analysts recently weighed in on INTC shares. Argus downgraded shares of Intel from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. StockNews.com downgraded shares of Intel from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. Benchmark downgraded shares of Intel from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. Rosenblatt Securities restated a “sell” rating and set a $17.00 price target on shares of Intel in a research report on Friday, August 2nd. Finally, Roth Mkm reduced their price target on shares of Intel from $35.00 to $25.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Six equities research analysts have rated the stock with a sell rating, twenty-four have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, Intel presently has an average rating of “Hold” and an average target price of $32.04.

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.