Yong Rong HK Asset Management Ltd Acquires New Holdings in Intel Co. (NASDAQ:INTC)

Yong Rong HK Asset Management Ltd 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 firm purchased 668,700 shares of the chip maker’s stock, valued at approximately $33,603,000. Intel makes up about 12.6% of Yong Rong HK Asset Management Ltd’s investment portfolio, making the stock its 2nd biggest holding.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. DiNuzzo Private Wealth Inc. bought a new position in shares of Intel during the 4th quarter valued at about $120,000. Triumph Capital Management lifted its stake in Intel by 249.1% in the fourth quarter. Triumph Capital Management now owns 27,777 shares of the chip maker’s stock valued at $1,396,000 after buying an additional 19,820 shares in the last quarter. Cary Street Partners Asset Management LLC boosted its holdings in shares of Intel by 3.8% in the fourth quarter. Cary Street Partners Asset Management LLC now owns 11,329 shares of the chip maker’s stock valued at $569,000 after buying an additional 413 shares during the period. PYA Waltman Capital LLC bought a new stake in shares of Intel during the fourth quarter worth $238,000. Finally, Thompson Davis & CO. Inc. raised its holdings in shares of Intel by 42.6% during the fourth quarter. Thompson Davis & CO. Inc. now owns 11,211 shares of the chip maker’s stock worth $563,000 after acquiring an additional 3,349 shares during the period. Institutional investors and hedge funds own 64.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. UBS Group increased their target price on Intel from $46.00 to $50.00 and gave the stock a “neutral” rating in a report on Monday, April 1st. Susquehanna dropped their target price on Intel from $40.00 to $35.00 and set a “neutral” rating on the stock in a research report on Friday, April 26th. Citigroup reduced their price target on Intel from $47.50 to $40.00 and set a “neutral” rating for the company in a research report on Monday, April 15th. The Goldman Sachs Group lowered their price objective on shares of Intel from $39.00 to $34.00 and set a “sell” rating on the stock in a report on Friday, April 26th. Finally, Sanford C. Bernstein decreased their target price on shares of Intel from $42.00 to $35.00 and set a “market perform” rating for the company in a research report on Friday, April 26th. Four research analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $39.75.

Insider Activity at Intel

In other news, CEO Patrick P. Gelsinger purchased 2,800 shares of the company’s stock in a transaction dated Thursday, February 1st. The stock was bought at an average cost of $42.74 per share, for a total transaction of $119,672.00. Following the purchase, the chief executive officer now owns 31,275 shares of the company’s stock, valued at $1,336,693.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.04% of the stock is owned by insiders.

Intel Price Performance

Intel stock traded up $0.50 during midday trading on Wednesday, reaching $30.97. The company’s stock had a trading volume of 36,027,197 shares, compared to its average volume of 48,388,969. The stock has a market cap of $131.84 billion, a PE ratio of 31.40, a price-to-earnings-growth ratio of 3.31 and a beta of 1.00. 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 Co. has a 52 week low of $26.85 and a 52 week high of $51.28. The business has a 50-day moving average price of $40.35 and a 200-day moving average price of $42.23.

Intel Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Tuesday, May 7th will be given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date is Monday, May 6th. Intel’s dividend payout ratio is 52.08%.

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.