Summit Street Capital Management LLC boosted its stake in Intel Co. (NASDAQ:INTC – Free Report) by 304.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 201,117 shares of the chip maker’s stock after buying an additional 151,334 shares during the period. Intel makes up approximately 3.6% of Summit Street Capital Management LLC’s portfolio, making the stock its 5th biggest position. Summit Street Capital Management LLC’s holdings in Intel were worth $6,765,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Frontier Wealth Management LLC lifted its holdings in Intel by 0.5% in the first quarter. Frontier Wealth Management LLC now owns 46,894 shares of the chip maker’s stock valued at $2,181,000 after acquiring an additional 253 shares during the period. West Michigan Advisors LLC lifted its holdings in Intel by 5.4% in the first quarter. West Michigan Advisors LLC now owns 5,137 shares of the chip maker’s stock valued at $255,000 after acquiring an additional 262 shares during the period. Retirement Income Solutions Inc raised its stake in shares of Intel by 5.1% during the 1st quarter. Retirement Income Solutions Inc now owns 6,338 shares of the chip maker’s stock worth $314,000 after buying an additional 307 shares during the last quarter. CFO4Life Group LLC raised its stake in shares of Intel by 2.3% during the 1st quarter. CFO4Life Group LLC now owns 15,770 shares of the chip maker’s stock worth $515,000 after buying an additional 348 shares during the last quarter. Finally, Traynor Capital Management Inc. raised its stake in shares of Intel by 3.8% during the 1st quarter. Traynor Capital Management Inc. now owns 9,575 shares of the chip maker’s stock worth $313,000 after buying an additional 351 shares during the last quarter. 60.84% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling
In related news, CEO Patrick P. Gelsinger purchased 3,850 shares of Intel stock in a transaction that occurred on Wednesday, August 2nd. The shares were purchased at an average cost of $34.63 per share, with a total value of $133,325.50. Following the transaction, the chief executive officer now owns 105,495 shares of the company’s stock, valued at approximately $3,653,291.85. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Intel news, CEO Patrick P. Gelsinger bought 3,250 shares of the business’s stock in a transaction on Monday, July 31st. The shares were bought at an average cost of $35.87 per share, with a total value of $116,577.50. Following the transaction, the chief executive officer now directly owns 139,715 shares in the company, valued at approximately $5,011,577.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Patrick P. Gelsinger bought 3,850 shares of the business’s stock in a transaction on Wednesday, August 2nd. The stock was acquired at an average cost of $34.63 per share, for a total transaction of $133,325.50. Following the completion of the transaction, the chief executive officer now owns 105,495 shares in the company, valued at $3,653,291.85. The disclosure for this purchase can be found here. 0.04% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
INTC has been the subject of several research reports. Citigroup lifted their price target on Intel from $29.50 to $34.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 18th. 22nd Century Group reaffirmed a “reiterates” rating on shares of Intel in a research note on Wednesday, May 31st. Evercore ISI lifted their price target on Intel from $36.00 to $40.00 and gave the stock an “in-line” rating in a research note on Friday, July 28th. Needham & Company LLC lifted their price target on Intel from $36.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, July 28th. Finally, Stifel Nicolaus lifted their price objective on Intel from $28.00 to $32.00 and gave the stock a “hold” rating in a research report on Friday, July 28th. Six investment analysts have rated the stock with a sell rating, twenty-two have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $33.55.
Intel Trading Up 1.6 %
Shares of NASDAQ INTC traded up $0.63 during midday trading on Tuesday, hitting $39.22. The stock had a trading volume of 32,062,197 shares, compared to its average volume of 43,056,715. The company has a market capitalization of $164.25 billion, a price-to-earnings ratio of -175.40 and a beta of 0.89. Intel Co. has a 1-year low of $24.59 and a 1-year high of $40.07. The company has a quick ratio of 1.15, a current ratio of 1.60 and a debt-to-equity ratio of 0.44. The company has a fifty day moving average price of $34.51 and a 200 day moving average price of $31.90.
Intel (NASDAQ:INTC – Get Free Report) last released its quarterly earnings data on Thursday, July 27th. The chip maker reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.14. The business had revenue of $12.95 billion for the quarter, compared to analyst estimates of $12.03 billion. Intel had a positive return on equity of 1.70% and a negative net margin of 1.71%. On average, analysts predict that Intel Co. will post -0.11 earnings per share for the current year.
Intel Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Monday, August 7th were given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 1.27%. The ex-dividend date was Friday, August 4th. Intel’s dividend payout ratio (DPR) is presently -227.26%.
Intel 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.