Meridiem Capital Partners LP Takes Position in Intel Co. (NASDAQ:INTC)

Meridiem Capital Partners LP purchased a new position in shares of Intel Co. (NASDAQ:INTC) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 452,943 shares of the chip maker’s stock, valued at approximately $9,082,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Minot DeBlois Advisors LLC purchased a new stake in Intel during the fourth quarter worth $296,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Intel by 3.7% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,625,096 shares of the chip maker’s stock worth $112,711,000 after buying an additional 198,217 shares in the last quarter. Lazard Asset Management LLC boosted its holdings in Intel by 4,290.4% during the fourth quarter. Lazard Asset Management LLC now owns 6,207,340 shares of the chip maker’s stock worth $124,456,000 after buying an additional 6,065,956 shares in the last quarter. Letko Brosseau & Associates Inc. raised its position in Intel by 9.3% during the fourth quarter. Letko Brosseau & Associates Inc. now owns 1,947,200 shares of the chip maker’s stock worth $39,041,000 after acquiring an additional 166,475 shares during the period. Finally, Laird Norton Wetherby Wealth Management LLC raised its position in Intel by 11.3% during the fourth quarter. Laird Norton Wetherby Wealth Management LLC now owns 83,114 shares of the chip maker’s stock worth $1,666,000 after acquiring an additional 8,468 shares during the period. 64.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Mizuho reduced their price objective on shares of Intel from $23.00 to $22.00 and set a “neutral” rating for the company in a research report on Friday, April 25th. Susquehanna reduced their target price on shares of Intel from $24.00 to $22.00 and set a “neutral” rating for the company in a research report on Wednesday, April 16th. HSBC upgraded shares of Intel from a “reduce” rating to a “hold” rating in a research report on Tuesday, January 21st. JPMorgan Chase & Co. cut their price objective on shares of Intel from $23.00 to $20.00 and set an “underweight” rating for the company in a research report on Friday, April 25th. Finally, StockNews.com upgraded shares of Intel from a “sell” rating to a “hold” rating in a research report on Monday, April 28th. Six research analysts have rated the stock with a sell rating, twenty-seven have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, Intel has a consensus rating of “Hold” and a consensus target price of $22.23.

Intel Stock Up 3.5%

Shares of Intel stock opened at $22.18 on Tuesday. Intel Co. has a 52-week low of $17.67 and a 52-week high of $37.16. The company has a 50 day moving average of $21.27 and a 200 day moving average of $21.69. The company has a quick ratio of 0.98, a current ratio of 1.33 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $96.75 billion, a P/E ratio of -5.06 and a beta of 1.15.

Intel (NASDAQ:INTC) last released its quarterly earnings data on Thursday, April 24th. The chip maker reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.12. Intel had a negative net margin of 35.32% and a negative return on equity of 3.27%. The company had revenue of $12.67 billion for the quarter, compared to analysts’ expectations of $12.26 billion. During the same quarter last year, the company earned $0.18 earnings per share. The firm’s revenue for the quarter was down .4% on a year-over-year basis. As a group, research analysts forecast that Intel Co. will post -0.11 EPS for the current fiscal 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.