Hedges Asset Management LLC Raises Stock Holdings in Intel Co. (NASDAQ:INTC)

Hedges Asset Management LLC boosted its holdings in Intel Co. (NASDAQ:INTC) by 31.8% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 67,200 shares of the chip maker’s stock after buying an additional 16,200 shares during the quarter. Hedges Asset Management LLC’s holdings in Intel were worth $1,577,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. America First Investment Advisors LLC purchased a new stake in shares of Intel during the 2nd quarter valued at about $25,000. Tributary Capital Management LLC purchased a new stake in shares of Intel during the 1st quarter valued at about $27,000. Cyrus J. Lawrence LLC purchased a new stake in shares of Intel during the 2nd quarter valued at about $27,000. Spartan Fund Management Inc. purchased a new stake in shares of Intel during the 2nd quarter valued at about $31,000. Finally, Financial Connections Group Inc. bought a new position in shares of Intel during the 2nd quarter valued at approximately $32,000. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Insider Transactions at Intel

In related news, CEO Patrick P. Gelsinger acquired 12,500 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was bought at an average price of $20.16 per share, for a total transaction of $252,000.00. Following the acquisition, the chief executive officer now directly owns 37,975 shares of the company’s stock, valued at $765,576. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.04% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on INTC shares. New Street Research downgraded Intel from a “buy” rating to a “neutral” rating in a research note on Friday, August 2nd. StockNews.com downgraded Intel from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. Bank of America downgraded Intel from a “neutral” rating to an “underperform” rating and cut their price objective for the company from $35.00 to $23.00 in a research note on Friday, August 2nd. Wedbush cut their price objective on Intel from $32.50 to $25.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Finally, Raymond James downgraded Intel from an “outperform” rating to a “market perform” rating in a research note on Friday, August 2nd. Six research analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $30.80.

Intel Stock Performance

Shares of NASDAQ:INTC opened at $22.68 on Monday. 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 $96.98 billion, a P/E ratio of 98.61 and a beta of 1.03. The firm has a fifty day simple moving average of $21.62 and a two-hundred day simple moving average of $27.38. The company has a quick ratio of 1.24, a current ratio of 1.59 and a debt-to-equity ratio of 0.40.

Intel (NASDAQ:INTC) last released its 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 firm had revenue of $12.80 billion during the quarter, compared to the consensus estimate of $12.92 billion. Intel had a return on equity of 1.78% and a net margin of 1.77%. Intel’s revenue was down .8% compared to the same quarter last year. During the same quarter last year, the business posted ($0.05) EPS. On average, analysts expect that Intel Co. will post -0.47 earnings per share for the current fiscal year.

Intel Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th were issued a $0.125 dividend. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $0.50 annualized dividend and a dividend yield of 2.20%. Intel’s dividend payout ratio (DPR) is presently 217.40%.

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.