Channing Capital Management LLC Raises Position in Intel Co. (NASDAQ:INTC)

Channing Capital Management LLC raised its stake in shares of Intel Co. (NASDAQ:INTC) by 27.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 155,637 shares of the chip maker’s stock after purchasing an additional 33,431 shares during the quarter. Channing Capital Management LLC’s holdings in Intel were worth $7,821,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in INTC. New Millennium Group LLC increased its position in shares of Intel by 87.2% in the fourth quarter. New Millennium Group LLC now owns 496 shares of the chip maker’s stock valued at $25,000 after buying an additional 231 shares in the last quarter. Valued Wealth Advisors LLC purchased a new position in shares of Intel during the 4th quarter worth approximately $36,000. Signature Resources Capital Management LLC acquired a new stake in shares of Intel in the fourth quarter valued at $37,000. Bare Financial Services Inc acquired a new position in Intel in the 4th quarter valued at about $39,000. Finally, Raleigh Capital Management Inc. increased its stake in Intel by 62.8% during the 3rd quarter. Raleigh Capital Management Inc. now owns 938 shares of the chip maker’s stock worth $33,000 after buying an additional 362 shares during the period. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Insider Activity

In other news, CEO Patrick P. Gelsinger bought 4,100 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The shares were bought at an average cost of $30.29 per share, for a total transaction of $124,189.00. Following the acquisition, the chief executive officer now directly owns 39,375 shares in the company, valued at $1,192,668.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Patrick P. Gelsinger acquired 4,000 shares of the business’s stock in a transaction dated Monday, April 29th. The stock was bought at an average cost of $31.42 per share, for a total transaction of $125,680.00. Following the completion of the transaction, the chief executive officer now owns 35,275 shares of the company’s stock, valued at $1,108,340.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Patrick P. Gelsinger bought 4,100 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were bought at an average price of $30.29 per share, with a total value of $124,189.00. Following the completion of the transaction, the chief executive officer now owns 39,375 shares of the company’s stock, valued at $1,192,668.75. The disclosure for this purchase can be found here. 0.04% of the stock is owned by company insiders.

Intel Trading Up 1.3 %

NASDAQ:INTC traded up $0.39 during mid-day trading on Friday, hitting $30.90. 36,794,828 shares of the company’s stock were exchanged, compared to its average volume of 58,447,700. The company has a 50 day simple moving average of $39.60 and a 200-day simple moving average of $42.11. The firm has a market capitalization of $131.54 billion, a P/E ratio of 32.19, a PEG ratio of 10.05 and a beta of 1.09. Intel Co. has a fifty-two week low of $26.85 and a fifty-two week high of $51.28. The company has a current ratio of 1.57, a quick ratio of 1.14 and a debt-to-equity ratio of 0.43.

Intel Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Tuesday, May 7th will be paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date is Monday, May 6th. Intel’s dividend payout ratio is presently 52.08%.

Wall Street Analyst Weigh In

INTC has been the subject of a number of analyst reports. TD Cowen lowered their target price on shares of Intel from $42.00 to $35.00 and set a “hold” rating for the company in a research note on Friday, April 26th. HSBC reduced their price objective on Intel from $44.00 to $37.00 and set a “hold” rating for the company in a research note on Tuesday, April 23rd. Stifel Nicolaus reiterated a “hold” rating and set a $45.00 price target on shares of Intel in a research note on Wednesday, April 3rd. Rosenblatt Securities reiterated a “sell” rating and issued a $17.00 price objective on shares of Intel in a research report on Friday, April 26th. Finally, Benchmark reiterated a “buy” rating and set a $62.00 price target on shares of Intel in a research report on Wednesday, April 3rd. Four equities research analysts have rated the stock with a sell rating, twenty-one have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $39.75.

About Intel

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.