September 17, 2023 – Investment firm Sanders Morris Harris LLC recently acquired a new stake in Intel Co. (NASDAQ:INTC) during the second quarter of this year, according to their latest filing with the Securities and Exchange Commission. The fund purchased 15,695 shares of the chip maker’s stock, valued at approximately $528,000.
Intel (NASDAQ: INTC) released its quarterly earnings data on July 27th. The company reported an earnings per share (EPS) of ($0.05), surpassing the consensus estimate of ($0.19) by $0.14. During the quarter, Intel generated revenue amounting to $12.95 billion against analyst estimates of $12.03 billion.
Although Intel experienced a negative net margin of 1.71%, it did manage to achieve a positive return on equity of 1.70%. Analysts have projected that Intel Co.’s earnings per share for the current year will be around -0.11.
These recent developments shed light on the investment activities surrounding Intel Co., as well as its financial performance during this period.
Incorporated in California in 1968, Intel Corporation is recognized as one of the leading producers and developers of innovative technologies for computer processors and related products worldwide. The company has established itself as a key player in shaping advancements within the technology industry through its cutting-edge products and vast network spanning various countries.
The acquisition made by Sanders Morris Harris LLC indicates not only investor confidence in Intel Co.’s potential but also demonstrates strategic financial decision-making by integrating Intel’s offerings into their investment portfolio.
By investing in stock holdings such as those offered by Intel Co., firms like Sanders Morris Harris LLC aim to take advantage of potential long-term growth opportunities presented by well-established companies within industries that are vital for global economic development.
Intel’s ability to outperform consensus expectations during Q2 2023 showcases its resilience in the face of challenges and its commitment to delivering value to its shareholders. The positive return on equity further reinforces Intel’s ability to generate profits for investors.
As we await Intel’s future financial reports, market analysts will continue to monitor the company closely, seeking indicators that will guide investors in making informed decisions. The dynamics of the technology industry, coupled with Intel’s innovative solutions and strong market presence, will likely impact its financial performance moving forward.
Investors, industry experts, and stakeholders alike eagerly anticipate future updates from Intel Co., as this renowned tech giant navigates an ever-evolving landscape while striving for continued success.
In conclusion, Sanders Morris Harris LLC’s recent acquisition of a stake in Intel Co. demonstrates their confidence in the company’s potential for growth within the technology sector. As intellectual advancements shape our world, notable players like Intel continue to drive innovation forward and contribute significantly to global economic progress.
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Hedge Funds and Institutional Investors Make Moves on Intel Corporation Stock
Intel Corporation (INTC) is garnering attention from hedge funds and other institutional investors, as they either increase or reduce their stakes in the tech giant’s stock. State Street Corp raised its stake in Intel by 0.8% during the 1st quarter, now holding 179,319,417 shares valued at $5,858,347,000. Geode Capital Management LLC also increased its stake by 0.6% during the same period, now owning 82,728,971 shares valued at $2,696,916,000. Similarly, Morgan Stanley boosted its stake by a significant 29.8% in the 4th quarter and currently holds 53,342,230 shares worth $1,409,835,000.
Meanwhile, Moneta Group Investment Advisors LLC witnessed an astonishing increase of their stake by 100953.1%, now holding a staggering number of shares -51,133,863 – worth $1,351468000. Even Norges Bank was enticed to purchase a new stake in Intel amounting to $1,092939 billion towards the end of the previous year.
It should be noted that a substantial majority of Intel’s stock – approximately 60.84% – is currently owned by hedge funds and other institutional investors.
On September 17th this year (2023), NASDAQ INTC opened at $37.88 per share on Friday morning. Metrics such as quick ratio (1.15) and current ratio (1.60) reflect favorable liquidity for the company even when taking into account their debt-to-equity ratio (0.44). The fifty-day moving average stood at $35 while the two-hundred-day moving average came to $32.23.
As per market capitalization ($158 billion), Intel stands out as one of the technology industry leaders with a substantial market presence.
Regarding dividends payment policy; on September 1st, Intel disclosed their quarterly dividend to shareholders. With a record date on August 7th, $0.125 per share was paid representing a $0.50 annualized dividend and yielding 1.32%. However, it is essential to note that the payout ratio for Intel stands at -227.26%.
Market analysts have expressed their views on Intel recently as well. Jefferies Financial Group increased their price objective from $32 to $35 in June this year. Another report by Morgan Stanley saw them lowering their price objective on Intel from $38 to $35 while maintaining an “equal weight” rating for the company in late July. Tigress Financial has been even more cautious, reducing their target price of Intel from $72 to $46 and issuing a “buy” rating only recently citing various factors weighing against the stock on August 4th. Meanwhile, Needham & Company LLC revealed divergent sentiments when they upped the target price on Intel shares from $36 to an optimistic $40 and concurrently gave the stock a “buy” rating in late July.
The consensus among experts seems less enthusiastic, with six research analysts rating the stock as sell, twenty-two holding onto a hold rating and only six suggesting buying opportunities for Intel’s shares. Bloomberg.com data further reaffirms this evaluation by indicating that Intel carries a consensus rating of “Hold” overall with an average target price of approximately $33.55.
In conclusion, it is imperative for investors and industry observers alike to closely examine these altering investment patterns among hedge funds and other institutional investors regarding tech giant Intel Corporation (INTC). The notable shifts in stake ownership can be seen as indicators of both opportunity and caution within the market environment surrounding the company.