Empowered Funds Boosts Intel Stake by 21%, Now Worth $10.67 Million
In this article:
Empowered Funds LLC has significantly raised its position in Intel Corporation (INTC, Financial) and now owns 454,788 shares valued at about $10.67 million. This is a 21.1% raise to the company's total stake in the firm in the Q3 2024 period, with 79,169 shares bought.
This move extends to other institutional investors changing their Intel stakes in a process that is becoming evident across the market. Notable among them are funds that began buying Intel's stock through the opening of a new position in the second quarter of 2024, including America First Investment Advisors LLC, Cyrus J. Lawrence LLC, and Spartan Fund Management Inc. Overall, the institutional investors currently hold 64.53% of the company's common stock.
A gross example is Intel, which has been experiencing an increased level of competitive press and high market volatility and, therefore, had mixed investor feelings in the last quarter. For instance, executive vice president Michelle Johnston Holthaus sold 25,000 shares of the company on November 7, 2024, for $650,000. Holthaus now owns 273258 shares of the company, with his interest being 8.38% dilution.
Fundamental institutional support is still strong, yet the inability to keep high-ranked executives from selling their shares, combined with uncertain market signals, portends guarded optimism over Intel's linear trajectory. These investors might consider this an indication of internal restructuring within the firm since semiconductor markets are always changing.
Intel continues to remain relevant in the tech industry. While the market still looks to institutions to increase their positions, it is also still waiting for signs from company insiders to follow suit.
This article first appeared on GuruFocus.