Chicago Capital LLC Reduces Stock Holdings in Intel Co. (NASDAQ:INTC)

Chicago Capital LLC cut its holdings in Intel Co. (NASDAQ:INTC) by 7.1% in the third quarter, HoldingsChannel reports. The institutional investor owned 39,792 shares of the chip maker’s stock after selling 3,042 shares during the quarter. Chicago Capital LLC’s holdings in Intel were worth $934,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. William B. Walkup & Associates Inc. purchased a new stake in shares of Intel during the second quarter valued at $2,178,000. Private Advisory Group LLC acquired a new stake in Intel during the 3rd quarter worth about $8,045,000. Brookstone Capital Management grew its stake in Intel by 65.2% during the 1st quarter. Brookstone Capital Management now owns 69,096 shares of the chip maker’s stock valued at $3,052,000 after purchasing an additional 27,274 shares during the last quarter. Sanibel Captiva Trust Company Inc. increased its holdings in shares of Intel by 21.1% in the third quarter. Sanibel Captiva Trust Company Inc. now owns 279,591 shares of the chip maker’s stock valued at $6,559,000 after purchasing an additional 48,765 shares during the period. Finally, Czech National Bank raised its stake in shares of Intel by 7.2% in the third quarter. Czech National Bank now owns 869,233 shares of the chip maker’s stock worth $20,392,000 after purchasing an additional 58,021 shares during the last quarter. Institutional investors and hedge funds own 64.53% of the company’s stock.

Intel Stock Performance

NASDAQ:INTC opened at $22.77 on Monday. The company has a market cap of $96.93 billion, a P/E ratio of 23.72 and a beta of 1.03. Intel Co. has a twelve month low of $18.51 and a twelve month high of $51.28. The company’s 50-day moving average price is $21.40 and its 200-day moving average price is $27.94. 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 posted its quarterly earnings results on Thursday, August 1st. The chip maker reported $0.02 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.08). The company had revenue of $12.80 billion during the quarter, compared to analyst estimates of $12.92 billion. Intel had a net margin of 1.77% and a return on equity of 1.78%. Intel’s revenue for the quarter was down .8% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.05) EPS. On average, sell-side analysts forecast 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. Shareholders of record on Wednesday, August 7th were paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date was Wednesday, August 7th. Intel’s dividend payout ratio (DPR) is presently 52.08%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on INTC shares. Roth Mkm dropped their target price on Intel from $35.00 to $25.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Mizuho lowered shares of Intel from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $36.00 to $22.00 in a research note on Thursday, August 8th. Northland Securities decreased their target price on shares of Intel from $68.00 to $42.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. TD Cowen raised Intel to a “hold” rating in a research report on Monday, September 16th. Finally, Cantor Fitzgerald decreased their price objective on Intel from $40.00 to $27.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Six research 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 company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $31.92.

Insider Buying and Selling at Intel

In other news, CEO Patrick P. Gelsinger purchased 12,500 shares of Intel stock in a transaction dated 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 transaction, the chief executive officer now owns 37,975 shares in the company, valued at $765,576. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.04% of the stock is currently owned by company 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.