Intel Co. (NASDAQ:INTC) Shares Sold by Acadian Asset Management LLC

Acadian Asset Management LLC reduced its position in shares of Intel Co. (NASDAQ:INTC) by 36.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 473,964 shares of the chip maker’s stock after selling 271,567 shares during the period. Acadian Asset Management LLC’s holdings in Intel were worth $20,929,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. New Millennium Group LLC raised its holdings in Intel by 87.2% during the 4th quarter. New Millennium Group LLC now owns 496 shares of the chip maker’s stock worth $25,000 after buying an additional 231 shares during the period. Frazier Financial Advisors LLC acquired a new stake in shares of Intel during the fourth quarter valued at approximately $27,000. Burkett Financial Services LLC purchased a new stake in shares of Intel in the 4th quarter valued at approximately $27,000. Tributary Capital Management LLC acquired a new position in Intel in the 1st quarter worth approximately $27,000. Finally, Dixon Mitchell Investment Counsel Inc. purchased a new position in Intel during the 1st quarter worth approximately $36,000. 64.53% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. UBS Group increased their price objective on Intel from $46.00 to $50.00 and gave the stock a “neutral” rating in a research note on Monday, April 1st. Mizuho lowered their price objective on shares of Intel from $55.00 to $45.00 and set a “buy” rating on the stock in a research report on Friday, April 26th. Barclays dropped their price objective on shares of Intel from $44.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Friday, April 26th. Needham & Company LLC reissued a “hold” rating on shares of Intel in a research note on Friday, April 26th. Finally, Citigroup dropped their price target on shares of Intel from $47.50 to $40.00 and set a “neutral” rating on the stock in a research note on Monday, April 15th. Three analysts have rated the stock with a sell rating, twenty-three have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $39.25.

Intel Price Performance

Shares of NASDAQ INTC traded up $0.19 during midday trading on Monday, hitting $33.17. 25,466,670 shares of the company’s stock were exchanged, compared to its average volume of 47,889,020. The company has a current ratio of 1.57, a quick ratio of 1.14 and a debt-to-equity ratio of 0.43. The business’s fifty day moving average price is $31.56 and its two-hundred day moving average price is $37.91. The company has a market cap of $141.20 billion, a price-to-earnings ratio of 34.53, a PEG ratio of 19.74 and a beta of 1.05. Intel Co. has a 12-month low of $29.73 and a 12-month high of $51.28.

Intel (NASDAQ:INTC) last posted its quarterly earnings data on Thursday, April 25th. The chip maker reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.03). The firm had revenue of $12.72 billion during the quarter, compared to analysts’ expectations of $12.76 billion. Intel had a return on equity of 2.19% and a net margin of 7.36%. As a group, research analysts forecast that Intel Co. will post 0.07 EPS for the current fiscal year.

Intel Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Tuesday, May 7th were paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date was Monday, May 6th. Intel’s payout ratio is 52.08%.

Insider Buying and Selling

In other news, CEO Patrick P. Gelsinger bought 4,100 shares of Intel stock in a transaction on Wednesday, May 1st. The shares were purchased at an average price of $30.29 per share, for a total transaction of $124,189.00. Following the acquisition, the chief executive officer now owns 39,375 shares of the company’s stock, valued at $1,192,668.75. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO Patrick P. Gelsinger purchased 4,000 shares of the company’s stock in a transaction dated Monday, April 29th. The shares were purchased at an average cost of $31.42 per share, with a total value of $125,680.00. Following the transaction, the chief executive officer now directly owns 35,275 shares in the company, valued at approximately $1,108,340.50. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Patrick P. Gelsinger acquired 4,100 shares of Intel stock in a transaction that occurred on Wednesday, May 1st. The shares were bought at an average cost of $30.29 per share, with a total value of $124,189.00. Following the transaction, the chief executive officer now owns 39,375 shares in the company, valued at $1,192,668.75. The disclosure for this purchase can be found here. 0.04% of the stock is currently owned by insiders.

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.