Xponance Inc. Trims Stock Holdings in Intel Co. (NASDAQ:INTC)

Xponance Inc. decreased its stake in Intel Co. (NASDAQ:INTC) by 0.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 595,520 shares of the chip maker’s stock after selling 3,521 shares during the quarter. Xponance Inc.’s holdings in Intel were worth $18,443,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Price T Rowe Associates Inc. MD grew its position in shares of Intel by 543.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 37,384,507 shares of the chip maker’s stock worth $1,878,572,000 after purchasing an additional 31,575,084 shares in the last quarter. Capital International Investors grew 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 valued at $4,951,174,000 after buying an additional 15,475,631 shares in the last quarter. Van ECK Associates Corp grew its holdings in Intel by 60.5% during the 2nd quarter. Van ECK Associates Corp now owns 34,591,800 shares of the chip maker’s stock valued at $1,071,308,000 after buying an additional 13,035,566 shares in the last quarter. Davis Selected Advisers grew its holdings in Intel by 86.2% during the 2nd quarter. Davis Selected Advisers now owns 12,642,316 shares of the chip maker’s stock valued at $391,533,000 after buying an additional 5,851,098 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in Intel by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 385,787,907 shares of the chip maker’s stock valued at $19,385,842,000 after buying an additional 4,678,169 shares in the last quarter. 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 purchased 12,500 shares of Intel stock in a transaction dated Monday, August 5th. The stock was purchased at an average cost of $20.16 per share, with a total value of $252,000.00. Following the transaction, the chief executive officer now owns 37,975 shares in the company, valued at approximately $765,576. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.04% of the company’s stock.

Analysts Set New Price Targets

INTC has been the subject of several research analyst reports. Mizuho cut Intel from an “outperform” rating to a “neutral” rating and cut their price target for the company from $36.00 to $22.00 in a report on Thursday, August 8th. Cantor Fitzgerald cut their price target on Intel from $40.00 to $27.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. StockNews.com cut Intel from a “hold” rating to a “sell” rating in a report on Friday, August 9th. Truist Financial lowered their price objective on Intel from $33.00 to $25.00 and set a “hold” rating for the company in a research note on Friday, August 2nd. Finally, Benchmark reaffirmed a “hold” rating on shares of Intel in a research note on Monday. Six investment analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $32.04.

Intel Price Performance

Shares of INTC stock opened at $21.84 on Monday. Intel Co. has a twelve month low of $18.51 and a twelve month high of $51.28. The stock has a market capitalization of $92.97 billion, a price-to-earnings ratio of 22.75 and a beta of 1.03. The stock has a fifty day simple moving average of $23.67 and a two-hundred day simple moving average of $30.80. The company has a current ratio of 1.59, a quick ratio of 1.24 and a debt-to-equity ratio of 0.40.

Intel (NASDAQ:INTC) last issued its earnings results on Thursday, August 1st. The chip maker reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.08). Intel had a return on equity of 1.78% and a net margin of 1.77%. The firm had revenue of $12.80 billion during the quarter, compared to analysts’ expectations of $12.92 billion. During the same quarter in the prior year, the company posted ($0.05) earnings per share. Intel’s quarterly revenue was down .8% compared to the same quarter last year. On average, analysts predict that Intel Co. will post -0.47 EPS for the current fiscal year.

Intel Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th were given a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 2.29%. The ex-dividend date was Wednesday, August 7th. 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.