Home Federal Bank of Tennessee Reduces Stock Position in Intel Co. (NASDAQ:INTC)

Home Federal Bank of Tennessee decreased its position in Intel Co. (NASDAQ:INTC) by 6.7% during the third quarter, Holdings Channel.com reports. The fund owned 18,458 shares of the chip maker’s stock after selling 1,324 shares during the quarter. Home Federal Bank of Tennessee’s holdings in Intel were worth $433,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in Intel by 0.9% in the first quarter. Vanguard Group Inc. now owns 389,098,435 shares of the chip maker’s stock worth $17,186,478,000 after purchasing an additional 3,310,528 shares during the period. Capital International Investors boosted its stake in Intel by 16.0% during the first quarter. Capital International Investors now owns 112,093,582 shares of the chip maker’s stock worth $4,951,174,000 after acquiring an additional 15,475,631 shares in the last quarter. Primecap Management Co. CA grew its holdings in Intel by 2.2% in the second quarter. Primecap Management Co. CA now owns 77,822,587 shares of the chip maker’s stock worth $2,410,166,000 after purchasing an additional 1,697,550 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of Intel by 6.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 39,841,750 shares of the chip maker’s stock valued at $1,759,811,000 after purchasing an additional 2,457,243 shares during the last quarter. Finally, Legal & General Group Plc grew its stake in shares of Intel by 1.3% in the 2nd quarter. Legal & General Group Plc now owns 37,513,226 shares of the chip maker’s stock worth $1,161,779,000 after buying an additional 487,191 shares during the last quarter. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

INTC has been the subject of several analyst reports. Wedbush reduced their price target on Intel from $32.50 to $25.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Morgan Stanley reduced their price target on shares of Intel from $36.00 to $25.00 and set an “equal weight” rating for the company in a research report on Friday, August 2nd. HSBC downgraded Intel from a “hold” rating to a “reduce” rating in a report on Friday, August 2nd. Susquehanna lowered their target price on shares of Intel from $35.00 to $26.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Intel from $27.00 to $25.00 and set a “hold” rating for the company in a report on Thursday, October 3rd. Six research analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $31.92.

Intel Stock Performance

NASDAQ:INTC traded down $0.35 during mid-day trading on Tuesday, hitting $22.49. The stock had a trading volume of 7,548,047 shares, compared to its average volume of 58,487,730. Intel Co. has a 52 week low of $18.51 and a 52 week high of $51.28. The stock has a market capitalization of $95.74 billion, a price-to-earnings ratio of 23.79 and a beta of 1.03. The company has a 50 day simple moving average of $21.47 and a 200-day simple moving average of $27.82. The company has a current ratio of 1.59, a quick ratio of 1.24 and a debt-to-equity ratio of 0.40.

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

Intel Announces Dividend

The business 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. This represents a $0.50 annualized dividend and a dividend yield of 2.22%. The ex-dividend date of this dividend was Wednesday, August 7th. Intel’s dividend payout ratio is currently 52.08%.

Insider Transactions at Intel

In other Intel news, CEO Patrick P. Gelsinger acquired 12,500 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were purchased at an average price of $20.16 per share, with a total value of $252,000.00. Following the completion of the transaction, the chief executive officer now owns 37,975 shares in the company, valued at $765,576. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.04% of the company’s stock.

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.