Massachusetts Financial Services Co. MA Reduces Stock Position in Intel Co. (NASDAQ:INTC)

Massachusetts Financial Services Co. MA cut its stake in Intel Co. (NASDAQ:INTC) by 3.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,185,617 shares of the chip maker’s stock after selling 226,753 shares during the period. Massachusetts Financial Services Co. MA owned approximately 0.17% of Intel worth $222,539,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in INTC. America First Investment Advisors LLC purchased a new position in Intel in the second quarter valued at about $25,000. Frazier Financial Advisors LLC acquired a new stake in shares of Intel in the fourth quarter valued at approximately $27,000. Burkett Financial Services LLC acquired a new stake in shares of Intel in the fourth quarter valued at approximately $27,000. Tributary Capital Management LLC acquired a new stake in shares of Intel in the first quarter valued at approximately $27,000. Finally, Spartan Fund Management Inc. acquired a new stake in shares of Intel in the second quarter valued at approximately $31,000. 64.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

INTC has been the topic of several research reports. Morgan Stanley lowered their price target on shares of Intel from $36.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Friday, August 2nd. Raymond James lowered shares of Intel from an “outperform” rating to a “market perform” rating in a research report on Friday, August 2nd. StockNews.com lowered shares of Intel from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. Roth Mkm decreased their target price on shares of Intel from $35.00 to $25.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Finally, TD Cowen upgraded shares of Intel to a “hold” rating in a research report on Monday. Six analysts have rated the stock with a sell rating, twenty-four have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $32.04.

Intel Stock Performance

Shares of INTC stock opened at $21.47 on Wednesday. The company’s fifty day simple moving average is $24.45 and its 200-day simple moving average is $31.29. Intel Co. has a 52 week low of $18.51 and a 52 week high of $51.28. The company has a current ratio of 1.59, a quick ratio of 1.24 and a debt-to-equity ratio of 0.40. The company has a market cap of $91.40 billion, a PE ratio of 22.36 and a beta of 1.03.

Intel (NASDAQ:INTC) last issued its earnings results on Thursday, August 1st. The chip maker reported $0.02 EPS 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 business 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 posted ($0.05) EPS. The business’s revenue was down .8% on a year-over-year basis. As a group, equities research analysts anticipate that Intel Co. will post -0.47 EPS for the current year.

Intel Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 7th were paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 2.33%. The ex-dividend date of this dividend was Wednesday, August 7th. Intel’s dividend payout ratio (DPR) is 52.08%.

Insider Buying and Selling

In other news, CEO Patrick P. Gelsinger purchased 12,500 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were purchased at an average price of $20.16 per share, with a total value of $252,000.00. Following the purchase, the chief executive officer now directly owns 37,975 shares of the company’s stock, valued at approximately $765,576. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.04% of the stock is currently owned by insiders.

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.