Headlands Technologies LLC Invests $2.74 Million in Intel Co. (NASDAQ:INTC)

Headlands Technologies LLC bought a new position in Intel Co. (NASDAQ:INTC) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 88,528 shares of the chip maker’s stock, valued at approximately $2,742,000.

Several other hedge funds also recently made changes to their positions in the company. Johnson Financial Group Inc. lifted its stake in shares of Intel by 4.5% in the 4th quarter. Johnson Financial Group Inc. now owns 5,730 shares of the chip maker’s stock worth $288,000 after acquiring an additional 247 shares during the period. Enterprise Financial Services Corp lifted its stake in shares of Intel by 2.2% in the fourth quarter. Enterprise Financial Services Corp now owns 11,461 shares of the chip maker’s stock valued at $576,000 after purchasing an additional 251 shares during the period. Summit Financial Strategies Inc. lifted its stake in shares of Intel by 3.7% in the fourth quarter. Summit Financial Strategies Inc. now owns 7,385 shares of the chip maker’s stock valued at $371,000 after purchasing an additional 265 shares during the period. Cape Investment Advisory Inc. lifted its stake in shares of Intel by 5.5% in the fourth quarter. Cape Investment Advisory Inc. now owns 5,185 shares of the chip maker’s stock valued at $261,000 after purchasing an additional 270 shares during the period. Finally, Copperwynd Financial LLC lifted its stake in shares of Intel by 0.6% in the fourth quarter. Copperwynd Financial LLC now owns 45,432 shares of the chip maker’s stock valued at $2,283,000 after purchasing an additional 273 shares during the period. Institutional investors and hedge funds own 64.53% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on INTC. Cantor Fitzgerald reduced their price objective on shares of Intel from $40.00 to $27.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Barclays cut their target price on shares of Intel from $40.00 to $25.00 and set an “equal weight” rating for the company in a research report on Friday, August 2nd. Rosenblatt Securities restated a “sell” rating and set a $17.00 target price on shares of Intel in a research report on Friday, August 2nd. Morgan Stanley cut their target price on shares of Intel from $36.00 to $25.00 and set an “equal weight” rating for the company in a research report on Friday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of Intel from $38.00 to $27.00 and set a “hold” rating for the company in a research report on Friday, August 2nd. Six equities research analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $32.04.

Insiders Place Their Bets

In other Intel news, CEO Patrick P. Gelsinger acquired 12,500 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was bought at an average cost of $20.16 per share, for a total transaction of $252,000.00. Following the completion of the purchase, the chief executive officer now directly owns 37,975 shares in the company, valued at $765,576. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.04% of the stock is owned by insiders.

Intel Price Performance

Intel stock opened at $18.98 on Wednesday. Intel Co. has a 1 year low of $18.51 and a 1 year high of $51.28. The firm has a 50 day moving average price of $25.69 and a 200 day moving average price of $32.09. The company has a market cap of $81.16 billion, a price-to-earnings ratio of 19.77 and a beta of 1.03. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.24 and a current ratio of 1.59.

Intel (NASDAQ:INTC) last released its quarterly earnings data on Thursday, August 1st. The chip maker reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.08). Intel had a return on equity of 1.78% and a net margin of 1.77%. The business had revenue of $12.80 billion for the quarter, compared to analysts’ expectations of $12.92 billion. During the same quarter in the prior year, the firm earned ($0.05) earnings per share. Intel’s quarterly revenue was down .8% compared to the same quarter last year. Sell-side analysts predict that Intel Co. will post -0.47 earnings per share for the current year.

Intel Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th were paid a dividend of $0.125 per share. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $0.50 annualized dividend and a yield of 2.63%. Intel’s dividend payout ratio is currently 52.08%.

Intel Company 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.