CM Management LLC Purchases Shares of 25,000 Intel Co. (NASDAQ:INTC)

CM Management LLC purchased a new stake in shares of Intel Co. (NASDAQ:INTC) during the second quarter, Holdings Channel reports. The firm purchased 25,000 shares of the chip maker’s stock, valued at approximately $1,404,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Capital International Investors increased its holdings in shares of Intel by 6.7% in the first quarter. Capital International Investors now owns 99,828,667 shares of the chip maker’s stock worth $6,388,865,000 after buying an additional 6,279,519 shares during the period. Geode Capital Management LLC increased its holdings in shares of Intel by 1.8% in the first quarter. Geode Capital Management LLC now owns 73,850,090 shares of the chip maker’s stock worth $4,715,291,000 after buying an additional 1,288,861 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Intel by 1.7% in the first quarter. Dimensional Fund Advisors LP now owns 38,634,664 shares of the chip maker’s stock worth $2,474,498,000 after buying an additional 629,100 shares during the period. Primecap Management Co. CA increased its holdings in shares of Intel by 2.1% in the second quarter. Primecap Management Co. CA now owns 34,918,555 shares of the chip maker’s stock worth $1,960,328,000 after buying an additional 709,880 shares during the period. Finally, Fisher Asset Management LLC increased its holdings in shares of Intel by 4.0% in the second quarter. Fisher Asset Management LLC now owns 31,416,835 shares of the chip maker’s stock worth $1,763,741,000 after buying an additional 1,221,696 shares during the period. Institutional investors and hedge funds own 62.24% of the company’s stock.

Shares of NASDAQ:INTC traded down $0.25 on Thursday, hitting $54.87. 780,024 shares of the company were exchanged, compared to its average volume of 28,272,402. Intel Co. has a 1-year low of $43.61 and a 1-year high of $68.49. The stock’s 50 day moving average price is $54.12 and its 200 day moving average price is $57.72. The company has a current ratio of 1.99, a quick ratio of 1.63 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $222.61 billion, a P/E ratio of 12.08, a price-to-earnings-growth ratio of 1.50 and a beta of 0.60.

Intel (NASDAQ:INTC) last issued its earnings results on Thursday, July 22nd. The chip maker reported $1.28 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.06 by $0.22. Intel had a net margin of 23.91% and a return on equity of 27.24%. The firm had revenue of $18.50 billion during the quarter, compared to analysts’ expectations of $17.80 billion. During the same quarter last year, the company posted $1.23 earnings per share. The firm’s revenue was up 1.6% compared to the same quarter last year. On average, equities analysts predict that Intel Co. will post 4.79 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 1st. Investors of record on Saturday, August 7th were issued a dividend of $0.3475 per share. The ex-dividend date was Thursday, August 5th. This represents a $1.39 annualized dividend and a dividend yield of 2.53%. Intel’s dividend payout ratio (DPR) is presently 26.23%.

Several analysts recently issued reports on INTC shares. Morgan Stanley raised their target price on Intel from $70.00 to $72.00 and gave the stock an “overweight” rating in a research note on Friday, July 23rd. Evercore ISI cut their target price on Intel from $75.00 to $60.00 and set an “in-line” rating on the stock in a research note on Friday, July 23rd. Credit Suisse Group set a $52.62 target price on Intel in a research note on Tuesday, July 27th. Truist cut their target price on Intel from $69.00 to $60.00 and set a “hold” rating on the stock in a research note on Friday, July 23rd. Finally, Zacks Investment Research raised Intel from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a research note on Friday, July 9th. Eleven equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, Intel presently has an average rating of “Hold” and an average price target of $60.65.

Intel Company Profile

Intel Corp. engages in the design, manufacture, and sale of computer products and technologies. It delivers computer, networking, data storage, and communications platforms. The firm operates through the following segments: Client Computing Group (CCG), Data Center Group (DCG), Internet of Things Group (IOTG), Non-Volatile Memory Solutions Group (NSG), Programmable Solutions (PSG), and All Other.

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Institutional Ownership by Quarter for Intel (NASDAQ:INTC)

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