Miracle Mile Advisors LLC Grows Stake in Intel Co. (NASDAQ:INTC)

Miracle Mile Advisors LLC boosted its position in Intel Co. (NASDAQ:INTC) by 1.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,393 shares of the chip maker’s stock after purchasing an additional 548 shares during the period. Miracle Mile Advisors LLC’s holdings in Intel were worth $1,431,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. New Millennium Group LLC grew its holdings in Intel by 87.2% during the 4th quarter. New Millennium Group LLC now owns 496 shares of the chip maker’s stock valued at $25,000 after buying an additional 231 shares during the last quarter. Burkett Financial Services LLC acquired a new stake in Intel during the 4th quarter valued at $27,000. Frazier Financial Advisors LLC acquired a new stake in Intel during the 4th quarter valued at $27,000. Valued Wealth Advisors LLC acquired a new stake in Intel during the 4th quarter valued at $36,000. Finally, Signature Resources Capital Management LLC acquired a new stake in Intel during the 4th quarter valued at $37,000. 64.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on INTC shares. Susquehanna decreased their price objective on Intel from $40.00 to $35.00 and set a “neutral” rating on the stock in a report on Friday, April 26th. TD Cowen decreased their price objective on Intel from $42.00 to $35.00 and set a “hold” rating on the stock in a report on Friday, April 26th. Mizuho reduced their target price on Intel from $55.00 to $45.00 and set a “buy” rating on the stock in a report on Friday, April 26th. Morgan Stanley reduced their target price on Intel from $48.00 to $36.00 and set an “equal weight” rating on the stock in a report on Friday, April 26th. Finally, Bank of America reduced their target price on Intel from $50.00 to $44.00 and set a “neutral” rating on the stock in a report on Friday, April 12th. Three investment analysts have rated the stock with a sell rating, twenty-three have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $39.58.

Insider Buying and Selling at Intel

In related news, CEO Patrick P. Gelsinger purchased 4,100 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were bought at an average price of $30.29 per share, with a total value of $124,189.00. Following the completion of the acquisition, the chief executive officer now owns 39,375 shares of the company’s stock, valued at $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 news, CEO Patrick P. Gelsinger bought 4,000 shares of the business’s stock in a transaction on Monday, April 29th. The shares were bought at an average cost of $31.42 per share, with a total value of $125,680.00. Following the purchase, the chief executive officer now directly owns 35,275 shares in the company, valued at $1,108,340.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Patrick P. Gelsinger bought 4,100 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were purchased at an average cost of $30.29 per share, for a total transaction of $124,189.00. Following the completion of the purchase, the chief executive officer now 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 owned by corporate insiders.

Intel Stock Performance

Shares of NASDAQ INTC traded down $0.13 during midday trading on Monday, hitting $30.84. 31,243,427 shares of the company’s stock were exchanged, compared to its average volume of 46,718,488. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.57 and a quick ratio of 1.14. The stock’s 50 day moving average price is $31.08 and its 200-day moving average price is $39.46. The firm has a market cap of $131.29 billion, a P/E ratio of 32.13, a PEG ratio of 14.76 and a beta of 1.05. Intel Co. has a twelve month low of $29.73 and a twelve month high of $51.28.

Intel (NASDAQ:INTC) last announced 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). Intel had a return on equity of 2.19% and a net margin of 7.36%. The firm had revenue of $12.72 billion for the quarter, compared to the consensus estimate of $12.76 billion. Equities research analysts anticipate that Intel Co. will post 0.09 EPS for the current year.

Intel Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Shareholders of record on Tuesday, May 7th were issued a $0.125 dividend. The ex-dividend date was Monday, May 6th. This represents a $0.50 annualized dividend and a dividend yield of 1.62%. Intel’s dividend payout ratio is currently 52.08%.

About Intel

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.