Invenomic Capital Management LP Invests $5.39 Million in Intel Co. (NASDAQ:INTC)

Invenomic Capital Management LP acquired a new position in shares of Intel Co. (NASDAQ:INTC) in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 229,935 shares of the chip maker’s stock, valued at approximately $5,394,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. America First Investment Advisors LLC acquired a new stake in shares of Intel in the 2nd quarter valued at about $25,000. Cyrus J. Lawrence LLC purchased a new stake in Intel during the 2nd quarter valued at approximately $27,000. Quest Partners LLC raised its stake in Intel by 7,370.6% during the 3rd quarter. Quest Partners LLC now owns 1,270 shares of the chip maker’s stock valued at $30,000 after acquiring an additional 1,253 shares during the last quarter. Spartan Fund Management Inc. purchased a new position in shares of Intel during the 2nd quarter worth approximately $31,000. Finally, Financial Connections Group Inc. purchased a new position in shares of Intel during the 2nd quarter worth approximately $32,000. 64.53% of the stock is owned by institutional investors and hedge funds.

Intel Trading Down 0.8 %

Shares of NASDAQ:INTC opened at $23.73 on Tuesday. Intel Co. has a 12 month low of $18.51 and a 12 month high of $51.28. The stock’s 50 day moving average price is $23.50 and its 200 day moving average price is $25.80. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.31 and a quick ratio of 0.97.

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

Insider Buying and Selling at Intel

In other Intel news, EVP Michelle Johnston Holthaus sold 25,000 shares of Intel stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $26.00, for a total transaction 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. The trade was a 8.38 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.04% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on INTC. Benchmark restated a “hold” rating on shares of Intel in a report on Friday, November 1st. Rosenblatt Securities restated a “sell” rating and issued a $17.00 price target on shares of Intel in a report on Tuesday, October 29th. Deutsche Bank Aktiengesellschaft lowered their target price on Intel from $27.00 to $25.00 and set a “hold” rating on the stock in a report on Thursday, October 3rd. StockNews.com cut Intel from a “hold” rating to a “sell” rating in a report on Friday, August 9th. Finally, Robert W. Baird raised their price objective on Intel from $20.00 to $25.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Six analysts have rated the stock with a sell rating, twenty-five have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $30.12.

Intel 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.