Kingstown Capital Management L.P. Takes $6.40 Million Position in Intel Co. (NASDAQ:INTC)

Kingstown Capital Management L.P. bought a new position in Intel Co. (NASDAQ:INTC) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 100,000 shares of the chip maker’s stock, valued at approximately $6,400,000. Intel comprises approximately 2.2% of Kingstown Capital Management L.P.’s investment portfolio, making the stock its 11th biggest position.

A number of other hedge funds also recently modified their holdings of INTC. Homrich & Berg boosted its stake in shares of Intel by 8.6% during the 1st quarter. Homrich & Berg now owns 112,047 shares of the chip maker’s stock worth $7,171,000 after acquiring an additional 8,902 shares during the last quarter. Jericho Capital Asset Management L.P. purchased a new position in shares of Intel during the 1st quarter worth $88,382,000. Select Equity Group L.P. boosted its stake in shares of Intel by 57.9% during the 1st quarter. Select Equity Group L.P. now owns 511,967 shares of the chip maker’s stock worth $32,766,000 after acquiring an additional 187,818 shares during the last quarter. Farr Miller & Washington LLC DC boosted its stake in shares of Intel by 0.6% during the 1st quarter. Farr Miller & Washington LLC DC now owns 74,154 shares of the chip maker’s stock worth $4,746,000 after acquiring an additional 462 shares during the last quarter. Finally, Eaton Vance Management boosted its stake in shares of Intel by 3.9% during the 1st quarter. Eaton Vance Management now owns 10,074,839 shares of the chip maker’s stock worth $644,790,000 after acquiring an additional 375,824 shares during the last quarter. Institutional investors own 62.98% of the company’s stock.

Several research analysts have recently weighed in on the stock. KeyCorp dropped their price target on shares of Intel from $86.00 to $70.00 and set an “overweight” rating on the stock in a research note on Thursday, May 20th. DZ Bank upgraded shares of Intel from a “hold” rating to a “buy” rating and set a $76.00 price target on the stock in a research note on Thursday, March 25th. JPMorgan Chase & Co. set a $80.00 price objective on shares of Intel and gave the company a “buy” rating in a research report on Wednesday, April 7th. Citigroup decreased their price objective on shares of Intel from $65.00 to $60.00 and set a “neutral” rating on the stock in a research report on Monday, June 21st. Finally, Zacks Investment Research upgraded shares of Intel from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a research report on Friday, July 9th. Thirteen equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and fourteen have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $62.54.

Shares of NASDAQ INTC traded down $0.38 during trading hours on Thursday, hitting $55.85. 421,251 shares of the stock were exchanged, compared to its average volume of 20,038,356. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.54 and a current ratio of 1.90. The firm has a market capitalization of $225.52 billion, a P/E ratio of 12.62, a PEG ratio of 1.60 and a beta of 0.61. The firm’s fifty day simple moving average is $56.39. Intel Co. has a 12 month low of $43.61 and a 12 month high of $68.49.

Intel (NASDAQ:INTC) last posted its quarterly earnings data on Wednesday, April 21st. The chip maker reported $1.39 EPS for the quarter, topping the consensus estimate of $1.15 by $0.24. The firm had revenue of $18.60 billion during the quarter, compared to analyst estimates of $17.97 billion. Intel had a net margin of 23.93% and a return on equity of 27.59%. Intel’s revenue was down 6.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.45 EPS. Research analysts predict that Intel Co. will post 4.62 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 1st. Investors of record on Saturday, August 7th will be paid a dividend of $0.3475 per share. The ex-dividend date of this dividend is Thursday, August 5th. This represents a $1.39 annualized dividend and a dividend yield of 2.49%. Intel’s dividend payout ratio (DPR) is presently 26.23%.

In other Intel news, EVP Steven Ralph Rodgers sold 2,972 shares of the company’s stock in a transaction that occurred on Friday, May 28th. The shares were sold at an average price of $57.61, for a total transaction of $171,216.92. Following the transaction, the executive vice president now owns 103,387 shares in the company, valued at approximately $5,956,125.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Gregory M. Bryant sold 2,842 shares of the company’s stock in a transaction that occurred on Monday, May 3rd. The shares were sold at an average price of $57.83, for a total transaction of $164,352.86. Corporate insiders own 0.02% of the company’s stock.

About Intel

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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