Signature Resources Capital Management LLC Purchases Shares of 732 Intel Co. (NASDAQ:INTC)

Signature Resources Capital Management LLC purchased a new position in shares of Intel Co. (NASDAQ:INTC) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 732 shares of the chip maker’s stock, valued at approximately $37,000.

Several other hedge funds have also recently modified their holdings of the stock. California Public Employees Retirement System increased its holdings in Intel by 102.6% in the 4th quarter. California Public Employees Retirement System now owns 16,074,760 shares of the chip maker’s stock worth $807,757,000 after buying an additional 8,140,835 shares during the period. Wellington Management Group LLP raised its holdings in shares of Intel by 17.8% during the third quarter. Wellington Management Group LLP now owns 34,564,037 shares of the chip maker’s stock worth $1,228,752,000 after purchasing an additional 5,217,549 shares during the last quarter. Alecta Tjanstepension Omsesidigt acquired a new position in Intel during the fourth quarter valued at $251,250,000. Parnassus Investments LLC boosted its holdings in Intel by 24.7% in the third quarter. Parnassus Investments LLC now owns 23,369,134 shares of the chip maker’s stock valued at $830,773,000 after purchasing an additional 4,631,905 shares during the last quarter. Finally, Primecap Management Co. CA grew its position in Intel by 6.0% during the 3rd quarter. Primecap Management Co. CA now owns 74,762,291 shares of the chip maker’s stock worth $2,657,799,000 after purchasing an additional 4,226,790 shares during the period. Institutional investors and hedge funds own 64.53% of the company’s stock.

Insider Activity

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

Analyst Ratings Changes

A number of brokerages have issued reports on INTC. Barclays decreased their price target on Intel from $44.00 to $40.00 and set an “equal weight” rating for the company in a report on Friday, April 26th. Susquehanna lowered their price target on shares of Intel from $40.00 to $35.00 and set a “neutral” rating on the stock in a report on Friday, April 26th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $50.00 price objective on shares of Intel in a report on Wednesday, April 3rd. HSBC lowered their target price on shares of Intel from $44.00 to $37.00 and set a “hold” rating on the stock in a research note on Tuesday, April 23rd. Finally, TD Cowen cut their price target on Intel from $42.00 to $35.00 and set a “hold” rating for the company in a research note on Friday, April 26th. Four investment analysts have rated the stock with a sell rating, twenty-one have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $39.75.

Intel Stock Up 1.3 %

Shares of NASDAQ INTC traded up $0.39 during mid-day trading on Friday, hitting $30.90. The company had a trading volume of 36,794,828 shares, compared to its average volume of 58,447,700. The company has a market capitalization of $131.54 billion, a PE ratio of 32.19, a price-to-earnings-growth ratio of 9.93 and a beta of 1.09. The business’s 50-day simple moving average is $39.84 and its 200 day simple moving average is $42.06. Intel Co. has a 1-year low of $26.85 and a 1-year high of $51.28. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.57 and a quick ratio of 1.14.

Intel Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Tuesday, May 7th will be given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date is Monday, May 6th. Intel’s dividend payout ratio is currently 52.08%.

Intel Profile

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.