IQ EQ FUND MANAGEMENT IRELAND Ltd grew its stake in Intel Co. (NASDAQ:INTC – Free Report) by 9.5% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 70,855 shares of the chip maker’s stock after purchasing an additional 6,132 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Intel were worth $1,662,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of the stock. Capital International Investors boosted its holdings in 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 during the last quarter. Van ECK Associates Corp boosted its holdings in Intel by 60.5% during the second quarter. Van ECK Associates Corp now owns 34,591,800 shares of the chip maker’s stock worth $1,071,308,000 after purchasing an additional 13,035,566 shares during the last quarter. Davis Selected Advisers grew its position in Intel by 86.2% in the 2nd quarter. Davis Selected Advisers now owns 12,642,316 shares of the chip maker’s stock worth $391,533,000 after purchasing an additional 5,851,098 shares in the last quarter. Caxton Associates LP purchased a new stake in Intel in the 2nd quarter valued at about $162,592,000. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Intel by 2,681.1% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,431,749 shares of the chip maker’s stock worth $137,251,000 after buying an additional 4,272,395 shares in the last quarter. Hedge funds and other institutional investors own 64.53% of the company’s stock.
Analyst Upgrades and Downgrades
INTC has been the subject of several recent analyst reports. Truist Financial reduced their target price on Intel from $33.00 to $25.00 and set a “hold” rating for the company in a report on Friday, August 2nd. JPMorgan Chase & Co. decreased their target price on Intel from $35.00 to $26.00 and set an “underweight” rating for the company in a research report on Friday, August 2nd. New Street Research downgraded shares of Intel from a “buy” rating to a “neutral” rating in a report on Friday, August 2nd. Susquehanna decreased their price objective on shares of Intel from $35.00 to $26.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Finally, Northland Securities dropped their target price on shares of Intel from $68.00 to $42.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Six investment analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $31.92.
View Our Latest Report on INTC
Insiders Place Their Bets
In other Intel news, CEO Patrick P. Gelsinger purchased 12,500 shares of the firm’s stock in a transaction 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 completion of the purchase, the chief executive officer now owns 37,975 shares of the company’s stock, valued at $765,576. The trade was a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.04% of the stock is owned by insiders.
Intel Trading Up 0.6 %
Shares of INTC stock opened at $22.44 on Friday. Intel Co. has a 52-week low of $18.51 and a 52-week high of $51.28. The business’s fifty day moving average is $21.34 and its 200 day moving average is $28.29. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.24 and a current ratio of 1.59. The company has a market capitalization of $95.53 billion, a PE ratio of 23.38 and a beta of 1.03.
Intel (NASDAQ:INTC – Get Free Report) last announced its earnings results on Thursday, August 1st. The chip maker reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.08). Intel had a net margin of 1.77% and a return on equity of 1.78%. The company had revenue of $12.80 billion during the quarter, compared to analysts’ expectations of $12.92 billion. During the same period in the prior year, the business earned ($0.05) earnings per share. The company’s revenue for the quarter was down .8% compared to the same quarter last year. On average, equities research analysts anticipate that Intel Co. will post -0.47 EPS for the current fiscal year.
Intel Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 7th were given a $0.125 dividend. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $0.50 dividend on an annualized basis and a yield of 2.23%. Intel’s payout ratio is 52.08%.
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.
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