TradeLink Capital LLC acquired a new position in shares of Intel Co. (NASDAQ:INTC) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,800 shares of the chip maker’s stock, valued at approximately $646,000. Intel accounts for approximately 2.7% of TradeLink Capital LLC’s holdings, making the stock its 11th biggest holding.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. BlackRock Inc. grew its holdings in Intel by 2.9% in the first quarter. BlackRock Inc. now owns 311,391,281 shares of the chip maker’s stock worth $16,852,495,000 after purchasing an additional 8,659,315 shares during the period. Geode Capital Management LLC grew its holdings in Intel by 4.1% in the first quarter. Geode Capital Management LLC now owns 71,885,174 shares of the chip maker’s stock worth $3,884,421,000 after purchasing an additional 2,854,177 shares during the period. Bank of New York Mellon Corp grew its holdings in Intel by 7.1% in the first quarter. Bank of New York Mellon Corp now owns 40,788,450 shares of the chip maker’s stock worth $2,207,470,000 after purchasing an additional 2,709,735 shares during the period. Nuveen Asset Management LLC grew its holdings in Intel by 45.2% in the first quarter. Nuveen Asset Management LLC now owns 39,226,298 shares of the chip maker’s stock worth $2,122,927,000 after purchasing an additional 12,217,997 shares during the period. Finally, Morgan Stanley grew its holdings in Intel by 3.8% in the first quarter. Morgan Stanley now owns 30,413,363 shares of the chip maker’s stock worth $1,645,971,000 after purchasing an additional 1,108,810 shares during the period. Institutional investors own 64.95% of the company’s stock.
In other Intel news, CEO Robert Holmes Swan purchased 8,021 shares of the company’s stock in a transaction dated Friday, July 24th. The shares were acquired at an average price of $50.00 per share, for a total transaction of $401,050.00. Following the completion of the purchase, the chief executive officer now owns 293,594 shares of the company’s stock, valued at $14,679,700. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Navin Shenoy sold 7,018 shares of the business’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $59.83, for a total value of $419,886.94. Following the sale, the executive vice president now owns 68,942 shares in the company, valued at approximately $4,124,799.86. The disclosure for this sale can be found here. 0.04% of the stock is currently owned by insiders.
A number of equities research analysts have commented on INTC shares. Nomura restated a “buy” rating and issued a $74.00 price target on shares of Intel in a report on Sunday, June 21st. Barclays cut shares of Intel from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $58.00 to $48.00 in a report on Friday, July 24th. Susquehanna Bancshares reiterated a “hold” rating and set a $58.00 price objective on shares of Intel in a report on Tuesday, July 14th. Wells Fargo & Co reduced their price objective on shares of Intel from $60.00 to $55.00 in a report on Friday, July 24th. Finally, Northland Securities cut shares of Intel from a “market perform” rating to an “underperform” rating and set a $60.00 price objective for the company. in a report on Friday, July 24th. Twelve analysts have rated the stock with a sell rating, eighteen have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $61.67.
INTC opened at $47.73 on Friday. The business’s 50-day moving average is $58.00 and its two-hundred day moving average is $59.19. Intel Co. has a 1 year low of $43.63 and a 1 year high of $69.29. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.97 and a quick ratio of 1.58. The firm has a market capitalization of $203.00 billion, a PE ratio of 8.49, a price-to-earnings-growth ratio of 1.31 and a beta of 0.78.
Intel (NASDAQ:INTC) last posted its earnings results on Thursday, July 23rd. The chip maker reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.12. Intel had a return on equity of 31.55% and a net margin of 29.97%. The company had revenue of $19.73 billion for the quarter, compared to analyst estimates of $18.54 billion. During the same quarter in the previous year, the firm earned $1.06 earnings per share. As a group, sell-side analysts expect that Intel Co. will post 4.85 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 7th will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Thursday, August 6th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.77%. Intel’s payout ratio is 27.10%.
Intel Corporation offers computing, networking, data storage, and communication solutions worldwide. It operates through Client Computing Group, Data Center Group, Internet of Things Group, Non-Volatile Memory Solutions Group, Programmable Solutions Group, and All Other segments. The company offers microprocessors, and system-on-chip and multichip packaging products.
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