Concentric Capital Strategies LP Increases Holdings in Intel Co. (NASDAQ:INTC)

Concentric Capital Strategies LP increased its stake in shares of Intel Co. (NASDAQ:INTC) by 642.8% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 333,000 shares of the chip maker’s stock after purchasing an additional 288,170 shares during the period. Concentric Capital Strategies LP’s holdings in Intel were worth $7,812,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. First Hawaiian Bank lifted its stake in Intel by 2.1% in the second quarter. First Hawaiian Bank now owns 44,830 shares of the chip maker’s stock worth $1,388,000 after acquiring an additional 940 shares during the last quarter. Mather Group LLC. lifted its position in shares of Intel by 67.5% during the 2nd quarter. Mather Group LLC. now owns 43,598 shares of the chip maker’s stock worth $1,350,000 after buying an additional 17,562 shares during the last quarter. Lynx Investment Advisory acquired a new position in shares of Intel in the 2nd quarter valued at $81,000. Harbor Capital Advisors Inc. raised its stake in Intel by 3.5% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 51,999 shares of the chip maker’s stock worth $1,610,000 after acquiring an additional 1,738 shares in the last quarter. Finally, Value Partners Investments Inc. lifted its position in Intel by 64.8% in the second quarter. Value Partners Investments Inc. now owns 11,740 shares of the chip maker’s stock valued at $364,000 after acquiring an additional 4,618 shares during the last quarter. 64.53% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Intel

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $26.00, for a total value of $650,000.00. Following the completion of the sale, the executive vice president now directly owns 273,258 shares of the company’s stock, valued at $7,104,708. The trade was a 8.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.04% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have recently commented on INTC shares. Daiwa America upgraded Intel to a “hold” rating in a research report on Monday, August 26th. Mizuho raised their target price on shares of Intel from $22.00 to $23.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Stifel Nicolaus reiterated a “hold” rating and set a $25.00 price target (down previously from $28.00) on shares of Intel in a research note on Friday, October 25th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Intel from $27.00 to $25.00 and set a “hold” rating for the company in a report on Thursday, October 3rd. Finally, Benchmark restated a “hold” rating on shares of Intel in a research report on Friday, November 1st. Six research analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, Intel has a consensus rating of “Hold” and a consensus target price of $30.12.

Intel Stock Up 1.7 %

Shares of NASDAQ INTC opened at $24.05 on Monday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.97 and a current ratio of 1.31. Intel Co. has a 1 year low of $18.51 and a 1 year high of $51.28. The stock’s 50-day simple moving average is $23.48 and its 200-day simple moving average is $25.85. The firm has a market cap of $103.73 billion, a price-to-earnings ratio of -6.47 and a beta of 1.03.

Intel (NASDAQ:INTC) last posted its quarterly earnings data on Thursday, October 31st. The chip maker reported ($0.46) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.44). The business had revenue of $13.30 billion for the quarter, compared to analysts’ expectations of $13.02 billion. Intel had a negative return on equity of 1.71% and a negative net margin of 29.42%. Intel’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.28 earnings per share. As a group, equities analysts anticipate that Intel Co. will post -0.87 earnings per share for the current fiscal year.

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.