Clearline Capital LP Purchases 19,100 Shares of Intel Co. (NASDAQ:INTC)

Clearline Capital LP increased its holdings in Intel Co. (NASDAQ:INTC) by 7.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 278,879 shares of the chip maker’s stock after purchasing an additional 19,100 shares during the period. Clearline Capital LP’s holdings in Intel were worth $6,543,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of INTC. William B. Walkup & Associates Inc. purchased a new stake in shares of Intel during the 2nd quarter valued at about $2,178,000. Swiss National Bank increased its stake in Intel by 0.3% during the third quarter. Swiss National Bank now owns 12,635,400 shares of the chip maker’s stock worth $296,426,000 after acquiring an additional 31,800 shares during the last quarter. Fortis Group Advisors LLC raised its position in Intel by 1,052.9% during the third quarter. Fortis Group Advisors LLC now owns 172,996 shares of the chip maker’s stock valued at $4,058,000 after purchasing an additional 157,991 shares during the period. Mizuho Securities Co. Ltd. lifted its stake in shares of Intel by 2,910.4% in the 3rd quarter. Mizuho Securities Co. Ltd. now owns 28,900 shares of the chip maker’s stock valued at $678,000 after purchasing an additional 27,940 shares during the last quarter. Finally, CreativeOne Wealth LLC boosted its holdings in shares of Intel by 104.9% in the 3rd quarter. CreativeOne Wealth LLC now owns 60,831 shares of the chip maker’s stock worth $1,427,000 after purchasing an additional 31,143 shares during the period. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Intel Price Performance

Shares of INTC opened at $24.05 on Monday. The company has a 50 day moving average of $23.48 and a two-hundred day moving average of $25.85. The company has a market cap of $103.73 billion, a price-to-earnings ratio of -6.47 and a beta of 1.03. The company has a quick ratio of 0.97, a current ratio of 1.31 and a debt-to-equity ratio of 0.44. Intel Co. has a twelve month low of $18.51 and a twelve month high of $51.28.

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

Insiders Place Their Bets

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of Intel stock in a transaction dated 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 sale, the executive vice president now owns 273,258 shares of the company’s stock, valued at $7,104,708. The trade was a 8.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.04% of the company’s stock.

Wall Street Analyst Weigh In

INTC has been the subject of a number of analyst reports. TD Cowen upgraded Intel to a “hold” rating in a research report on Monday, September 16th. Argus cut shares of Intel from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Needham & Company LLC reiterated a “hold” rating on shares of Intel in a report on Friday, November 1st. Mizuho boosted their target price on Intel from $22.00 to $23.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Finally, The Goldman Sachs Group cut their target price on Intel from $22.00 to $21.00 and set a “sell” rating on the stock in a research note on Thursday, October 17th. Six equities research analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $30.12.

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.