Raymond James Financial Services Advisors Inc. Grows Stake in Intel Co. (NASDAQ:INTC)

Raymond James Financial Services Advisors Inc. boosted its position in Intel Co. (NASDAQ:INTC) by 6.3% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 1,276,227 shares of the chip maker’s stock after buying an additional 75,583 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Intel were worth $39,525,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Frazier Financial Advisors LLC purchased a new position in Intel during the fourth quarter worth $27,000. Burkett Financial Services LLC acquired a new position in Intel in the fourth quarter valued at $27,000. Tributary Capital Management LLC acquired a new position in Intel in the first quarter valued at $27,000. Triad Wealth Partners LLC acquired a new position in Intel in the second quarter valued at $33,000. Finally, Dixon Mitchell Investment Counsel Inc. acquired a new position in Intel in the first quarter valued at $36,000. 64.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Truist Financial reduced their target price on Intel from $33.00 to $25.00 and set a “hold” rating on the stock in a report on Friday, August 2nd. Cantor Fitzgerald reduced their price objective on Intel from $40.00 to $27.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Benchmark cut Intel from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. Evercore ISI reduced their price objective on Intel from $40.00 to $36.00 and set an “in-line” rating on the stock in a research note on Friday, April 26th. Finally, TD Cowen cut their price target on Intel from $35.00 to $25.00 and set a “hold” rating on the stock in a research note on Friday, August 2nd. Six equities research analysts have rated the stock with a sell rating, twenty-three have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $32.04.

Intel Stock Performance

Shares of NASDAQ:INTC traded up $0.65 during trading on Monday, hitting $21.52. 65,868,877 shares of the company traded hands, compared to its average volume of 52,315,246. The stock has a market capitalization of $91.61 billion, a price-to-earnings ratio of 22.42, a PEG ratio of 17.38 and a beta of 1.05. The business’s fifty day moving average is $29.07 and its 200-day moving average is $34.70. Intel Co. has a one year low of $18.84 and a one year high of $51.28. The company has a quick ratio of 1.14, a current ratio of 1.57 and a debt-to-equity ratio of 0.43.

Intel (NASDAQ:INTC) last issued its quarterly earnings data 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 for the quarter, compared to analyst estimates of $12.92 billion. Intel had a return on equity of 1.82% and a net margin of 1.77%. The business’s quarterly revenue was down .8% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.05) earnings per share. As a group, equities analysts predict that Intel Co. will post 0.07 earnings per share for the current fiscal year.

Intel Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th will be given a dividend of $0.125 per share. The ex-dividend date of this dividend is Wednesday, August 7th. This represents a $0.50 annualized dividend and a dividend yield of 2.32%. Intel’s dividend payout ratio is presently 52.08%.

Insider Transactions at Intel

In other Intel news, CEO Patrick P. Gelsinger acquired 12,500 shares of Intel stock in a transaction dated Monday, August 5th. The stock was acquired at an average cost of $20.16 per share, for a total transaction of $252,000.00. Following the completion of the transaction, the chief executive officer now owns 37,975 shares in the company, valued at approximately $765,576. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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.