OLD National Bancorp IN Has $12.74 Million Position in Intel Co. (NASDAQ:INTC)

OLD National Bancorp IN lowered its stake in shares of Intel Co. (NASDAQ:INTC) by 2.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 411,389 shares of the chip maker’s stock after selling 10,148 shares during the quarter. OLD National Bancorp IN’s holdings in Intel were worth $12,741,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. First Financial Corp IN raised its position in Intel by 8.0% during the 2nd quarter. First Financial Corp IN now owns 13,566 shares of the chip maker’s stock worth $420,000 after purchasing an additional 1,001 shares during the last quarter. CX Institutional raised its position in Intel by 28.9% during the 2nd quarter. CX Institutional now owns 22,691 shares of the chip maker’s stock worth $703,000 after purchasing an additional 5,091 shares during the last quarter. Trinity Financial Advisors LLC raised its position in Intel by 5.8% during the 2nd quarter. Trinity Financial Advisors LLC now owns 7,896 shares of the chip maker’s stock worth $245,000 after purchasing an additional 431 shares during the last quarter. Richard P Slaughter Associates Inc grew its holdings in Intel by 12.5% during the 2nd quarter. Richard P Slaughter Associates Inc now owns 46,421 shares of the chip maker’s stock worth $1,438,000 after acquiring an additional 5,165 shares during the period. Finally, Dominguez Wealth Management Solutions Inc. grew its holdings in Intel by 3.1% during the 2nd quarter. Dominguez Wealth Management Solutions Inc. now owns 52,630 shares of the chip maker’s stock worth $1,630,000 after acquiring an additional 1,560 shares during the period. Institutional investors and hedge funds own 64.53% of the company’s stock.

Intel Trading Down 3.8 %

Shares of NASDAQ:INTC traded down $0.78 on Friday, hitting $19.71. 76,266,178 shares of the company’s stock were exchanged, compared to its average volume of 51,828,367. The stock has a market capitalization of $83.91 billion, a price-to-earnings ratio of 20.41, a price-to-earnings-growth ratio of 17.38 and a beta of 1.05. Intel Co. has a 12 month low of $18.84 and a 12 month high of $51.28. The business’s 50 day simple moving average is $30.50 and its two-hundred day simple moving average is $36.09. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.57 and a quick ratio of 1.14.

Intel (NASDAQ:INTC) last issued 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 firm had revenue of $12.80 billion for the quarter, compared to the consensus estimate of $12.92 billion. Intel had a net margin of 1.77% and a return on equity of 1.82%. The company’s revenue for the quarter was down .8% on a year-over-year basis. During the same period last year, the firm earned ($0.05) earnings per share. Analysts anticipate that Intel Co. will post 0.07 EPS for the current fiscal year.

Intel Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th will be given a $0.125 dividend. The ex-dividend date of this dividend is Wednesday, August 7th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.54%. Intel’s payout ratio is 52.08%.

Insider Buying and Selling

In related news, CEO Patrick P. Gelsinger acquired 12,500 shares of Intel stock in a transaction on Monday, August 5th. The stock was acquired at an average price of $20.16 per share, for a total transaction of $252,000.00. Following the purchase, the chief executive officer now owns 37,975 shares of the company’s stock, valued at approximately $765,576. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.04% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

INTC has been the subject of a number of recent analyst reports. Morgan Stanley decreased their price target on Intel from $36.00 to $25.00 and set an “equal weight” rating for the company in a report on Friday, August 2nd. Northland Securities decreased their price target on Intel from $68.00 to $42.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft decreased their price target on Intel from $38.00 to $27.00 and set a “hold” rating for the company in a report on Friday, August 2nd. Wolfe Research upgraded Intel from an “underperform” rating to a “peer perform” rating in a report on Thursday, May 16th. Finally, Hsbc Global Res downgraded Intel from a “hold” rating to a “moderate sell” rating in a report on Friday, August 2nd. Six research analysts have rated the stock with a sell rating, twenty-three have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target 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.