Melqart Asset Management UK Ltd Acquires Shares of 597,675 Intel Co. (NASDAQ:INTC)

Melqart Asset Management UK Ltd bought a new position in shares of Intel Co. (NASDAQ:INTC) during the third quarter, HoldingsChannel reports. The institutional investor bought 597,675 shares of the chip maker’s stock, valued at approximately $14,021,000. Intel comprises 1.3% of Melqart Asset Management UK Ltd’s holdings, making the stock its 24th biggest holding.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Primecap Management Co. CA lifted its holdings in shares of Intel by 2.2% in the 2nd quarter. Primecap Management Co. CA now owns 77,822,587 shares of the chip maker’s stock worth $2,410,166,000 after buying an additional 1,697,550 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Intel by 28.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 58,469,412 shares of the chip maker’s stock valued at $1,371,692,000 after acquiring an additional 12,865,308 shares in the last quarter. Van ECK Associates Corp lifted its stake in Intel by 27.2% in the third quarter. Van ECK Associates Corp now owns 44,013,936 shares of the chip maker’s stock worth $967,426,000 after acquiring an additional 9,422,136 shares during the period. Legal & General Group Plc increased its position in Intel by 1.3% during the 2nd quarter. Legal & General Group Plc now owns 37,513,226 shares of the chip maker’s stock valued at $1,161,779,000 after purchasing an additional 487,191 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Intel by 7.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 31,690,418 shares of the chip maker’s stock valued at $743,457,000 after purchasing an additional 2,248,332 shares in the last quarter. Institutional investors own 64.53% of the company’s stock.

Insider Activity

In other news, EVP Michelle Johnston Holthaus sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $26.00, for a total value of $650,000.00. Following the transaction, the executive vice president now directly owns 273,258 shares in the company, valued at approximately $7,104,708. This represents a 8.38 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.04% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on INTC shares. Daiwa America upgraded shares of Intel to a “hold” rating in a research note on Monday, August 26th. Deutsche Bank Aktiengesellschaft cut their price target on Intel from $27.00 to $25.00 and set a “hold” rating on the stock in a report on Thursday, October 3rd. Robert W. Baird lifted their target price on Intel from $20.00 to $25.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Argus lowered shares of Intel from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $25.00 price objective (down previously from $28.00) on shares of Intel in a research report on Friday, October 25th. Six equities research analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $30.04.

Intel Stock Performance

Shares of Intel stock opened at $22.47 on Wednesday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.97 and a current ratio of 1.31. Intel Co. has a one year low of $18.51 and a one year high of $51.28. The business’s 50 day moving average price is $23.50 and its 200 day moving average price is $25.73. The company has a market cap of $96.91 billion, a price-to-earnings ratio of -6.04 and a beta of 1.05.

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

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.