Rheos Capital Works Inc. Acquires 30,000 Shares of Intel Co. (NASDAQ:INTC)

Rheos Capital Works Inc. lifted its holdings in shares of Intel Co. (NASDAQ:INTC) by 13.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 247,000 shares of the chip maker’s stock after acquiring an additional 30,000 shares during the quarter. Rheos Capital Works Inc.’s holdings in Intel were worth $5,795,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of INTC. William B. Walkup & Associates Inc. purchased a new position in shares of Intel in the 2nd quarter worth about $2,178,000. Private Advisory Group LLC bought a new stake in Intel in the third quarter worth about $8,045,000. Brookstone Capital Management boosted its stake in Intel by 65.2% in the first quarter. Brookstone Capital Management now owns 69,096 shares of the chip maker’s stock valued at $3,052,000 after acquiring an additional 27,274 shares during the last quarter. Sanibel Captiva Trust Company Inc. grew its position in shares of Intel by 21.1% during the 3rd quarter. Sanibel Captiva Trust Company Inc. now owns 279,591 shares of the chip maker’s stock valued at $6,559,000 after acquiring an additional 48,765 shares during the period. Finally, Czech National Bank increased its stake in shares of Intel by 7.2% during the 3rd quarter. Czech National Bank now owns 869,233 shares of the chip maker’s stock worth $20,392,000 after purchasing an additional 58,021 shares during the last quarter. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Insider Activity

In other news, CEO Patrick P. Gelsinger bought 12,500 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were bought at an average cost of $20.16 per share, with a total value 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. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.04% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on INTC shares. Daiwa America upgraded Intel to a “hold” rating in a research note on Monday, August 26th. Raymond James cut Intel from an “outperform” rating to a “market perform” rating in a research report on Friday, August 2nd. New Street Research lowered Intel from a “buy” rating to a “neutral” rating in a report on Friday, August 2nd. StockNews.com downgraded shares of Intel from a “hold” rating to a “sell” rating in a report on Friday, August 9th. Finally, The Goldman Sachs Group reduced their target price on shares of Intel from $29.00 to $22.00 and set a “sell” rating for the company in a research note on Friday, August 2nd. Six research analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Intel currently has a consensus rating of “Hold” and a consensus target price of $31.96.

Intel Price Performance

Shares of NASDAQ:INTC opened at $22.31 on Thursday. The company’s fifty day moving average price is $21.30 and its 200-day moving average price is $28.33. Intel Co. has a one year low of $18.51 and a one year high of $51.28. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.59 and a quick ratio of 1.24. The firm has a market capitalization of $94.97 billion, a price-to-earnings ratio of 23.24 and a beta of 1.03.

Intel (NASDAQ:INTC) last issued its earnings results on Thursday, August 1st. The chip maker reported $0.02 EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $12.92 billion. During the same quarter in the previous year, the business earned ($0.05) EPS. Intel’s revenue for the quarter was down .8% compared to the same quarter last year. On average, equities research analysts anticipate that Intel Co. will post -0.47 earnings per share for the current fiscal year.

Intel Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th were given a $0.125 dividend. The ex-dividend date was Wednesday, August 7th. This represents a $0.50 annualized dividend and a yield of 2.24%. Intel’s 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.