Intel Co. (NASDAQ:INTC) Shares Sold by SFE Investment Counsel

SFE Investment Counsel lowered its stake in Intel Co. (NASDAQ:INTC) by 7.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,303 shares of the chip maker’s stock after selling 865 shares during the period. SFE Investment Counsel’s holdings in Intel were worth $319,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in INTC. Vanguard Group Inc. grew its stake in shares of Intel by 0.9% during 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 in the last quarter. Capital International Investors boosted its position in shares of Intel by 16.0% during the 1st 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 raised its holdings in Intel by 0.6% during the fourth quarter. Primecap Management Co. CA now owns 75,237,927 shares of the chip maker’s stock worth $3,780,706,000 after purchasing an additional 475,636 shares in the last quarter. Norges Bank purchased a new stake in Intel in the fourth quarter valued at $2,424,202,000. Finally, Price T Rowe Associates Inc. MD increased its position 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 worth $1,759,811,000 after purchasing an additional 2,457,243 shares in the last quarter. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Northland Securities decreased their target price on Intel from $68.00 to $42.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Argus cut shares of Intel from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Barclays decreased their price target on shares of Intel from $40.00 to $25.00 and set an “equal weight” rating for the company in a research note on Friday, August 2nd. Jefferies Financial Group started coverage on shares of Intel in a research report on Monday, May 13th. They set a “hold” rating and a $34.00 price objective on the stock. Finally, UBS Group reduced their target price on shares of Intel from $37.00 to $32.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Six analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $32.04.

Intel Price Performance

NASDAQ:INTC opened at $18.89 on Friday. The firm has a market cap of $80.41 billion, a price-to-earnings ratio of 19.68 and a beta of 1.05. Intel Co. has a 12-month low of $18.64 and a 12-month high of $51.28. The company has a current ratio of 1.59, a quick ratio of 1.24 and a debt-to-equity ratio of 0.40. The company’s 50-day moving average is $26.17 and its two-hundred day moving average is $32.59.

Intel (NASDAQ:INTC) last announced its earnings results on Thursday, August 1st. The chip maker reported $0.02 earnings per share (EPS) 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 firm had revenue of $12.80 billion for the quarter, compared to analyst estimates of $12.92 billion. During the same quarter last year, the business posted ($0.05) EPS. The firm’s revenue was down .8% compared to the same quarter last year. Research analysts expect that Intel Co. will post -0.46 EPS for the current year.

Intel Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th were given a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 2.65%. The ex-dividend date was Wednesday, August 7th. Intel’s dividend payout ratio (DPR) is presently 52.08%.

Insider Buying and Selling at Intel

In related news, CEO Patrick P. Gelsinger purchased 12,500 shares of Intel stock in a transaction that occurred on Monday, August 5th. The shares were purchased at an average cost of $20.16 per share, with a total value of $252,000.00. Following the transaction, the chief executive officer now owns 37,975 shares of the company’s stock, valued at approximately $765,576. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.04% of the stock is currently owned by corporate insiders.

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.