Melqart Asset Management UK Ltd Takes Position in Intel Co. (NASDAQ:INTC)

Melqart Asset Management UK Ltd bought a new position in shares of Intel Co. (NASDAQ:INTC) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 597,675 shares of the chip maker’s stock, valued at approximately $14,021,000. Intel accounts for approximately 1.3% of Melqart Asset Management UK Ltd’s holdings, making the stock its 24th biggest position.

Other institutional investors have also bought and sold shares of the company. Key Financial Inc grew its holdings in shares of Intel by 4.1% during the second quarter. Key Financial Inc now owns 8,685 shares of the chip maker’s stock valued at $269,000 after buying an additional 340 shares during the last quarter. W.G. Shaheen & Associates DBA Whitney & Co raised its position in Intel by 1.4% in the 2nd quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 24,779 shares of the chip maker’s stock worth $767,000 after buying an additional 348 shares during the last quarter. Cidel Asset Management Inc. boosted its holdings in shares of Intel by 0.6% during the 2nd quarter. Cidel Asset Management Inc. now owns 64,589 shares of the chip maker’s stock valued at $2,000,000 after acquiring an additional 381 shares during the last quarter. Alhambra Investment Management LLC grew its stake in shares of Intel by 5.9% in the second quarter. Alhambra Investment Management LLC now owns 7,000 shares of the chip maker’s stock worth $217,000 after acquiring an additional 389 shares during the period. Finally, Cambridge Advisors Inc. raised its holdings in shares of Intel by 2.4% during the second quarter. Cambridge Advisors Inc. now owns 17,025 shares of the chip maker’s stock valued at $527,000 after purchasing an additional 393 shares during the last quarter. Institutional investors and hedge funds own 64.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on INTC shares. The Goldman Sachs Group cut their target price on shares of Intel from $22.00 to $21.00 and set a “sell” rating for the company in a research report on Thursday, October 17th. Benchmark reaffirmed a “hold” rating on shares of Intel in a research report on Friday, November 1st. StockNews.com downgraded shares of Intel from a “hold” rating to a “sell” rating in a report on Friday, August 9th. Northland Securities reduced their target price on shares of Intel from $42.00 to $28.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Finally, Argus downgraded shares of Intel from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. 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 stock. According to data from MarketBeat, Intel currently has an average rating of “Hold” and an average price target of $30.04.

Intel Stock Down 6.1 %

NASDAQ INTC opened at $22.47 on Wednesday. The company has a market capitalization of $96.91 billion, a P/E ratio of -6.04 and a beta of 1.05. The stock has a 50 day moving average price of $23.50 and a 200-day moving average price of $25.73. 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 one year low of $18.51 and a one year high of $51.28.

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

Insider Activity at Intel

In other Intel news, EVP Michelle Johnston Holthaus sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $26.00, for a total transaction of $650,000.00. Following the completion of the transaction, the executive vice president now owns 273,258 shares in the company, 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 at this link. 0.04% of the stock is currently owned by insiders.

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.