LSV Asset Management Sells 231,400 Shares of Intel Co. (NASDAQ:INTC)

LSV Asset Management lessened its position in Intel Co. (NASDAQ:INTC) by 3.9% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,648,310 shares of the chip maker’s stock after selling 231,400 shares during the period. LSV Asset Management owned approximately 0.13% of Intel worth $249,486,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Intel in the fourth quarter valued at approximately $2,424,202,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of Intel by 543.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 37,384,507 shares of the chip maker’s stock valued at $1,878,572,000 after buying an additional 31,575,084 shares during the period. California Public Employees Retirement System boosted its holdings in shares of Intel by 102.6% in the fourth quarter. California Public Employees Retirement System now owns 16,074,760 shares of the chip maker’s stock valued at $807,757,000 after buying an additional 8,140,835 shares during the period. Van ECK Associates Corp boosted its holdings in shares of Intel by 44.8% in the first quarter. Van ECK Associates Corp now owns 21,556,234 shares of the chip maker’s stock valued at $952,139,000 after buying an additional 6,673,086 shares during the period. Finally, Wellington Management Group LLP boosted its holdings in Intel by 17.8% during the third quarter. Wellington Management Group LLP now owns 34,564,037 shares of the chip maker’s stock worth $1,228,752,000 after purchasing an additional 5,217,549 shares during the last quarter. Institutional investors own 64.53% of the company’s stock.

Insider Activity at Intel

In related news, CEO Patrick P. Gelsinger purchased 4,100 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were bought at an average cost of $30.29 per share, with a total value of $124,189.00. Following the acquisition, the chief executive officer now owns 39,375 shares of the company’s stock, valued at approximately $1,192,668.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Intel news, CEO Patrick P. Gelsinger bought 4,000 shares of Intel stock in a transaction on Monday, April 29th. The shares were purchased at an average cost of $31.42 per share, with a total value of $125,680.00. Following the acquisition, the chief executive officer now directly owns 35,275 shares of the company’s stock, valued at approximately $1,108,340.50. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Patrick P. Gelsinger bought 4,100 shares of Intel stock in a transaction on Wednesday, May 1st. The shares were acquired at an average cost of $30.29 per share, for a total transaction of $124,189.00. Following the completion of the acquisition, the chief executive officer now directly owns 39,375 shares in the company, valued at $1,192,668.75. The disclosure for this purchase can be found here. 0.04% of the stock is currently owned by insiders.

Intel Stock Performance

NASDAQ:INTC traded up $0.99 during mid-day trading on Friday, reaching $34.49. 62,738,180 shares of the company’s stock were exchanged, compared to its average volume of 47,343,211. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.14 and a current ratio of 1.57. Intel Co. has a one year low of $29.73 and a one year high of $51.28. The firm has a market capitalization of $146.82 billion, a PE ratio of 35.93, a price-to-earnings-growth ratio of 16.62 and a beta of 1.05. The business’s fifty day simple moving average is $31.09 and its two-hundred day simple moving average is $38.69.

Intel (NASDAQ:INTC) last issued its earnings results on Thursday, April 25th. The chip maker reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.03). The firm had revenue of $12.72 billion during the quarter, compared to analyst estimates of $12.76 billion. Intel had a net margin of 7.36% and a return on equity of 2.19%. Analysts anticipate that Intel Co. will post 0.09 earnings per share for the current fiscal year.

Intel Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Tuesday, May 7th were issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 1.45%. The ex-dividend date was Monday, May 6th. Intel’s dividend payout ratio (DPR) is presently 52.08%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Jefferies Financial Group assumed coverage on shares of Intel in a report on Monday, May 13th. They set a “hold” rating and a $34.00 target price for the company. Mizuho reduced their target price on shares of Intel from $55.00 to $45.00 and set a “buy” rating for the company in a report on Friday, April 26th. UBS Group increased their price target on shares of Intel from $46.00 to $50.00 and gave the company a “neutral” rating in a research note on Monday, April 1st. Susquehanna cut their price target on shares of Intel from $40.00 to $35.00 and set a “neutral” rating for the company in a research note on Friday, April 26th. Finally, TD Cowen cut their price target on shares of Intel from $42.00 to $35.00 and set a “hold” rating for the company in a research note on Friday, April 26th. Three analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $39.58.

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.