Quarry LP Acquires New Stake in Intel Co. (NASDAQ:INTC)

Quarry LP bought a new position in Intel Co. (NASDAQ:INTC) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 2,629 shares of the chip maker’s stock, valued at approximately $81,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Tributary Capital Management LLC purchased a new position in Intel in the 1st quarter worth about $27,000. Dixon Mitchell Investment Counsel Inc. purchased a new position in shares of Intel during the first quarter worth approximately $36,000. America First Investment Advisors LLC bought a new stake in shares of Intel during the second quarter valued at approximately $25,000. Cyrus J. Lawrence LLC purchased a new stake in shares of Intel in the second quarter valued at approximately $27,000. Finally, Richardson Financial Services Inc. bought a new position in Intel in the fourth quarter worth approximately $46,000. 64.53% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on INTC shares. Hsbc Global Res cut Intel from a “hold” rating to a “moderate sell” rating in a report on Friday, August 2nd. UBS Group lowered their price objective on shares of Intel from $37.00 to $32.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Northland Securities cut their target price on shares of Intel from $68.00 to $42.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Argus cut shares of Intel from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Finally, TD Cowen upgraded shares of Intel to a “hold” rating in a research note on Monday, September 16th. Six 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. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $32.04.

Insider Transactions at Intel

In other Intel news, CEO Patrick P. Gelsinger purchased 12,500 shares of the stock in a transaction 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 completion of the acquisition, the chief executive officer now owns 37,975 shares in the company, valued at $765,576. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.04% of the company’s stock.

Intel Price Performance

NASDAQ INTC opened at $22.39 on Thursday. The stock’s fifty day moving average price is $21.99 and its 200 day moving average price is $29.72. Intel Co. has a 1 year low of $18.51 and a 1 year high of $51.28. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.59 and a quick ratio of 1.24. The company has a market cap of $95.31 billion, a price-to-earnings ratio of 23.32 and a beta of 1.03.

Intel (NASDAQ:INTC) last announced its quarterly earnings data 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). The firm had revenue of $12.80 billion during 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 company’s revenue for the quarter was down .8% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.05) earnings per share. As a group, equities research analysts forecast that Intel Co. will post -0.47 earnings per share for the current year.

Intel Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th were issued a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 2.23%. The ex-dividend date was Wednesday, August 7th. Intel’s dividend payout ratio (DPR) is currently 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.