Intel Co. (NASDAQ:INTC) Shares Acquired by IFM Investors Pty Ltd

IFM Investors Pty Ltd boosted its stake in Intel Co. (NASDAQ:INTC) by 0.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 878,882 shares of the chip maker’s stock after purchasing an additional 7,203 shares during the period. IFM Investors Pty Ltd’s holdings in Intel were worth $20,619,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. DORCHESTER WEALTH MANAGEMENT Co lifted its holdings in Intel by 105.3% in the 3rd quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 20,635 shares of the chip maker’s stock worth $484,000 after buying an additional 10,585 shares in the last quarter. Lafayette Investments Inc. lifted its stake in shares of Intel by 1.2% in the third quarter. Lafayette Investments Inc. now owns 59,114 shares of the chip maker’s stock worth $1,387,000 after acquiring an additional 718 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its stake in Intel by 32.2% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 10,387 shares of the chip maker’s stock valued at $244,000 after purchasing an additional 2,531 shares in the last quarter. Franklin Parlapiano Turner & Welch LLC increased its holdings in Intel by 6.5% during the 3rd quarter. Franklin Parlapiano Turner & Welch LLC now owns 213,629 shares of the chip maker’s stock worth $5,012,000 after purchasing an additional 12,991 shares during the last quarter. Finally, International Assets Investment Management LLC raised its position in shares of Intel by 3,505.0% in the 3rd quarter. International Assets Investment Management LLC now owns 2,923,684 shares of the chip maker’s stock valued at $68,590,000 after purchasing an additional 2,842,584 shares in the last quarter. Institutional investors and hedge funds own 64.53% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on INTC shares. StockNews.com cut shares of Intel from a “hold” rating to a “sell” rating in a report on Friday, August 9th. Truist Financial reduced their price target on shares of Intel from $33.00 to $25.00 and set a “hold” rating on the stock in a research report on Friday, August 2nd. Hsbc Global Res cut Intel from a “hold” rating to a “moderate sell” rating in a research note on Friday, August 2nd. Barclays decreased their target price on Intel from $40.00 to $25.00 and set an “equal weight” rating for the company in a research report on Friday, August 2nd. Finally, Susquehanna reduced their price objective on Intel from $35.00 to $26.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Six research analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $31.92.

Intel Price Performance

Shares of INTC traded up $0.11 during trading hours on Thursday, hitting $22.09. 19,776,463 shares of the company were exchanged, compared to its average volume of 58,445,070. The firm has a fifty day simple moving average of $21.55 and a 200-day simple moving average of $27.67. The company has a market capitalization of $94.04 billion, a PE ratio of 23.10 and a beta of 1.03. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.59 and a quick ratio of 1.24. Intel Co. has a one year low of $18.51 and a one year high of $51.28.

Intel (NASDAQ:INTC) last posted its quarterly earnings data on Thursday, August 1st. The chip maker reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.08). Intel had a net margin of 1.77% and a return on equity of 1.78%. The firm had revenue of $12.80 billion for the quarter, compared to analysts’ expectations of $12.92 billion. During the same period in the prior year, the company posted ($0.05) earnings per share. Intel’s quarterly revenue was down .8% compared to the same quarter last year. As a group, sell-side analysts predict that Intel Co. will post -0.47 earnings per share for the current year.

Intel Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th were issued a dividend of $0.125 per share. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.26%. Intel’s dividend payout ratio is 52.08%.

Insider Activity at Intel

In related news, CEO Patrick P. Gelsinger purchased 12,500 shares of Intel stock in a transaction dated Monday, August 5th. The stock was acquired at an average cost of $20.16 per share, with a total value of $252,000.00. Following the completion of the transaction, the chief executive officer now directly owns 37,975 shares of the company’s stock, valued at $765,576. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.04% of the stock is owned by insiders.

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.