King Luther Capital Management Corp Sells 61,815 Shares of Intel Co. (NASDAQ:INTC)

King Luther Capital Management Corp trimmed its position in shares of Intel Co. (NASDAQ:INTC) by 30.6% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 140,393 shares of the chip maker’s stock after selling 61,815 shares during the quarter. King Luther Capital Management Corp’s holdings in Intel were worth $4,348,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. America First Investment Advisors LLC bought a new position in shares of Intel during the 2nd quarter valued at $25,000. Burkett Financial Services LLC bought a new position in Intel in the 4th quarter worth $27,000. Tributary Capital Management LLC bought a new position in Intel in the 1st quarter worth $27,000. Spartan Fund Management Inc. bought a new position in Intel in the 2nd quarter worth $31,000. Finally, Financial Connections Group Inc. bought a new position in Intel in the 2nd quarter worth $32,000. 64.53% of the stock is owned by institutional investors.

Intel Stock Up 3.3 %

Intel stock opened at $21.84 on Friday. The business has a fifty day moving average of $23.67 and a two-hundred day moving average of $30.90. 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 firm has a market cap of $92.97 billion, a P/E ratio of 22.75 and a beta of 1.03. Intel Co. has a twelve month low of $18.51 and a twelve month high of $51.28.

Intel (NASDAQ:INTC) last posted 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). The company had revenue of $12.80 billion for the quarter, compared to analysts’ expectations of $12.92 billion. Intel had a return on equity of 1.78% and a net margin of 1.77%. The firm’s quarterly revenue was down .8% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.05) EPS. On average, analysts forecast that Intel Co. will post -0.47 earnings per share for the current fiscal year.

Intel Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th were given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date of this dividend was Wednesday, August 7th. Intel’s payout ratio is presently 52.08%.

Insider Transactions at Intel

In other Intel news, CEO Patrick P. Gelsinger purchased 12,500 shares of Intel stock in a transaction dated Monday, August 5th. The shares were acquired at an average cost of $20.16 per share, with a total value of $252,000.00. Following the completion of the transaction, the chief executive officer now owns 37,975 shares in the company, valued at approximately $765,576. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.04% of the company’s stock.

Wall Street Analyst Weigh In

INTC has been the subject of a number of research analyst reports. Mizuho lowered Intel from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $36.00 to $22.00 in a research report on Thursday, August 8th. Barclays cut their price objective on Intel from $40.00 to $25.00 and set an “equal weight” rating for the company in a research report on Friday, August 2nd. Daiwa America upgraded Intel to a “hold” rating in a research report on Monday, August 26th. Susquehanna cut their price objective on Intel from $35.00 to $26.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Finally, UBS Group cut their price objective on Intel from $37.00 to $32.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Six equities research analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, Intel has an average rating of “Hold” and a consensus price target of $32.04.

About Intel

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.