Clear Harbor Asset Management LLC Trims Stake in Intel Co. (NASDAQ:INTC)

Clear Harbor Asset Management LLC lessened its position in Intel Co. (NASDAQ:INTC) by 11.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 35,057 shares of the chip maker’s stock after selling 4,610 shares during the quarter. Clear Harbor Asset Management LLC’s holdings in Intel were worth $822,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in INTC. Bristlecone Advisors LLC boosted its holdings in Intel by 15.7% during the 3rd quarter. Bristlecone Advisors LLC now owns 102,152 shares of the chip maker’s stock valued at $2,396,000 after acquiring an additional 13,887 shares during the period. DekaBank Deutsche Girozentrale boosted its stake in shares of Intel by 7.0% during the third quarter. DekaBank Deutsche Girozentrale now owns 2,841,433 shares of the chip maker’s stock valued at $66,583,000 after purchasing an additional 187,044 shares during the period. PFG Investments LLC grew its holdings in shares of Intel by 1.1% in the third quarter. PFG Investments LLC now owns 127,019 shares of the chip maker’s stock worth $2,980,000 after purchasing an additional 1,323 shares during the last quarter. Arkadios Wealth Advisors increased its stake in Intel by 12.0% in the 3rd quarter. Arkadios Wealth Advisors now owns 85,252 shares of the chip maker’s stock worth $2,000,000 after buying an additional 9,168 shares during the period. Finally, Forsta AP Fonden lifted its holdings in Intel by 4.6% during the 3rd quarter. Forsta AP Fonden now owns 949,146 shares of the chip maker’s stock valued at $22,267,000 after buying an additional 41,900 shares in the last quarter. 64.53% of the stock is owned by hedge funds and other institutional investors.

Intel Trading Up 1.5 %

Shares of Intel stock opened at $22.68 on Monday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.59 and a quick ratio of 1.24. The stock’s 50 day simple moving average is $21.62 and its 200-day simple moving average is $27.38. The stock has a market cap of $96.98 billion, a P/E ratio of 98.61 and a beta of 1.03. Intel Co. has a 1-year low of $18.51 and a 1-year high of $51.28.

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

Intel Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th were paid a dividend of $0.125 per share. The ex-dividend date was Wednesday, August 7th. This represents a $0.50 annualized dividend and a yield of 2.20%. Intel’s dividend payout ratio (DPR) is 217.40%.

Insider Buying and Selling at Intel

In related news, CEO Patrick P. Gelsinger bought 12,500 shares of the stock in a transaction on Monday, August 5th. The stock was bought at an average price of $20.16 per share, with a total value of $252,000.00. Following the completion of the purchase, the chief executive officer now directly owns 37,975 shares in the company, valued at $765,576. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.04% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on INTC. The Goldman Sachs Group lowered their price target on Intel from $22.00 to $21.00 and set a “sell” rating for the company in a report on Thursday, October 17th. Argus downgraded Intel from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. UBS Group decreased their price objective on Intel from $37.00 to $32.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. JPMorgan Chase & Co. dropped their target price on shares of Intel from $35.00 to $26.00 and set an “underweight” rating on the stock in a report on Friday, August 2nd. Finally, Northland Securities reduced their price target on shares of Intel from $68.00 to $42.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Six analysts have rated the stock with a sell rating, twenty-four have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $30.80.

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.