K2 Principal Fund L.P. Sells 25,000 Shares of Intel Co. (NASDAQ:INTC)

K2 Principal Fund L.P. decreased its stake in shares of Intel Co. (NASDAQ:INTC) by 15.6% in the 2nd quarter, Holdings Channel reports. The fund owned 135,000 shares of the chip maker’s stock after selling 25,000 shares during the quarter. K2 Principal Fund L.P.’s holdings in Intel were worth $4,181,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in INTC. Johnson Financial Group Inc. grew its holdings in Intel by 4.5% during the fourth quarter. Johnson Financial Group Inc. now owns 5,730 shares of the chip maker’s stock worth $288,000 after buying an additional 247 shares in the last quarter. Summit Financial Strategies Inc. raised its holdings in shares of Intel by 3.7% in the fourth quarter. Summit Financial Strategies Inc. now owns 7,385 shares of the chip maker’s stock valued at $371,000 after purchasing an additional 265 shares during the last quarter. Cape Investment Advisory Inc. boosted its holdings in Intel by 5.5% during the fourth quarter. Cape Investment Advisory Inc. now owns 5,185 shares of the chip maker’s stock worth $261,000 after purchasing an additional 270 shares during the last quarter. Copperwynd Financial LLC grew its position in Intel by 0.6% in the 4th quarter. Copperwynd Financial LLC now owns 45,432 shares of the chip maker’s stock worth $2,283,000 after purchasing an additional 273 shares in the last quarter. Finally, Adirondack Trust Co. increased its stake in Intel by 0.5% in the 1st quarter. Adirondack Trust Co. now owns 51,783 shares of the chip maker’s stock valued at $2,287,000 after buying an additional 278 shares during the last quarter. 64.53% of the stock is owned by institutional investors.

Insider Transactions at Intel

In other news, CEO Patrick P. Gelsinger acquired 12,500 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were bought at an average cost of $20.16 per share, with a total value of $252,000.00. Following the acquisition, the chief executive officer now owns 37,975 shares in the company, valued at approximately $765,576. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.04% of the company’s stock.

Intel Stock Performance

NASDAQ:INTC opened at $22.56 on Tuesday. The stock has a market cap of $96.04 billion, a P/E ratio of 23.50 and a beta of 1.03. The company has a quick ratio of 1.24, a current ratio of 1.59 and a debt-to-equity ratio of 0.40. The business’s 50-day moving average price is $23.43 and its two-hundred day moving average price is $30.64. Intel Co. has a twelve month low of $18.51 and a twelve month high of $51.28.

Intel (NASDAQ:INTC) last announced 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). Intel had a net margin of 1.77% and a return on equity of 1.78%. The company had revenue of $12.80 billion for the quarter, compared to the consensus estimate of $12.92 billion. During the same quarter in the previous year, the firm earned ($0.05) earnings per share. The company’s revenue for the quarter was down .8% compared to the same quarter last year. As a group, equities analysts predict that Intel Co. will post -0.47 EPS for the current fiscal year.

Intel Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Shareholders 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 2.22%. The ex-dividend date was Wednesday, August 7th. Intel’s dividend payout ratio (DPR) is currently 52.08%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on INTC shares. The Goldman Sachs Group reduced their target price on Intel from $29.00 to $22.00 and set a “sell” rating for the company in a report on Friday, August 2nd. Morgan Stanley reduced their price objective on Intel from $36.00 to $25.00 and set an “equal weight” rating for the company in a research note on Friday, August 2nd. UBS Group lowered their target price on Intel from $37.00 to $32.00 and set a “neutral” rating on the stock in a research note 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, Truist Financial dropped their target price on shares of Intel from $33.00 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-four have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Intel presently has an average rating of “Hold” and a consensus target price of $32.04.

Intel 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.