Intel Core i7-8700 CPU attached to a motherboard.
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Chip giant Intel recently disclosed that it owned a small stake in payments-processing firm Shift4 Payments.
Intel (ticker: INTC) owned 27,761 Shift4 (FOUR) shares as of March 31, according to a form that Intel filed with the Securities and Exchange Commission. Intel hadn’t owned any Shift4 shares as of the end of 2020. Generally, entities that control more than $100 million of publicly traded equities are required to disclose their positions on a quarterly basis, but aren’t required to detail when, specifically, the shares were acquired, nor the prices paid. Intel could have purchased the Shift4 shares at any point in the first quarter.
Intel declined to comment on the Shift4 investment.
Shift4 stock has performed with the market, rising 10% year to date, about keeping pace with the S&P 500 index. Shift4’s initial public offering was in June.
In the wake of Shift4’s fourth-quarter report in early March, Credit Suisse analyst Timothy Chiodo raised his price target on the stock to $79 from $66. “We continue to view Shift4 as a well-positioned integrated payments provider (increasingly omnichannel), benefiting from an underlying same-store-sales volume recovery, organic merchant wins (pure share gains), and gateway conversion,” Chiodo wrote in a research report. He rates Shift4 at Outperform.
Intel continued to own 139,780 shares of chip maker MaxLinear (MXL) and 5.7 million shares of cybersecurity firm McAfee (MCFE) as of March 31.
Write to Ed Lin at [email protected]
