Optas LLC Lowers Holdings in Intel Co. (NASDAQ:INTC)

Optas LLC trimmed its position in Intel Co. (NASDAQ:INTC) by 29.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,026 shares of the chip maker’s stock after selling 5,351 shares during the period. Optas LLC’s holdings in Intel were worth $403,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Burkett Financial Services LLC purchased a new position in Intel in the 4th quarter valued at $27,000. Frazier Financial Advisors LLC purchased a new position in Intel in the 4th quarter valued at $27,000. Tributary Capital Management LLC purchased a new position in Intel in the 1st quarter valued at $27,000. Signature Resources Capital Management LLC purchased a new stake in shares of Intel during the 4th quarter worth $37,000. Finally, Bare Financial Services Inc acquired a new position in shares of Intel during the 4th quarter worth $39,000. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

Intel Trading Up 2.2 %

Shares of INTC stock traded up $0.44 during trading hours on Friday, hitting $20.54. 73,398,430 shares of the company were exchanged, compared to its average volume of 52,838,734. The firm has a market cap of $87.44 billion, a PE ratio of 21.40, a PEG ratio of 17.38 and a beta of 1.05. Intel Co. has a 1 year low of $18.84 and a 1 year high of $51.28. The company has a quick ratio of 1.14, a current ratio of 1.57 and a debt-to-equity ratio of 0.43. The firm has a fifty day moving average of $28.28 and a 200 day moving average of $34.14.

Intel (NASDAQ:INTC) last posted its earnings results on Thursday, August 1st. The chip maker reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.08). The business had revenue of $12.80 billion for the quarter, compared to analyst estimates of $12.92 billion. Intel had a return on equity of 1.82% and a net margin of 1.77%. The firm’s revenue for the quarter was down .8% compared to the same quarter last year. During the same period last year, the company posted ($0.05) EPS. Analysts expect that Intel Co. will post 0.07 earnings per share for the current year.

Intel Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, September 1st. Investors of record on Wednesday, August 7th will be given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date of this dividend is Wednesday, August 7th. Intel’s dividend payout ratio (DPR) is presently 52.08%.

Insider Buying and Selling

In other Intel news, CEO Patrick P. Gelsinger bought 12,500 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was 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. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.04% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on INTC shares. Wolfe Research raised shares of Intel from an “underperform” rating to a “peer perform” rating in a research note on Thursday, May 16th. Morgan Stanley lowered their price target on shares of Intel from $36.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Friday, August 2nd. Bank of America cut shares of Intel from a “neutral” rating to an “underperform” rating and lowered their price target for the stock from $35.00 to $23.00 in a research note on Friday, August 2nd. Rosenblatt Securities reaffirmed a “sell” rating and set a $17.00 price target on shares of Intel in a research note on Friday, August 2nd. Finally, TD Cowen lowered their price target on shares of Intel from $35.00 to $25.00 and set a “hold” rating on the stock in a research note on Friday, August 2nd. Six research analysts have rated the stock with a sell rating, twenty-three have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average 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.