Legacy Capital Group California Inc. Buys 14,435 Shares of Intel Co. (NASDAQ:INTC)

Legacy Capital Group California Inc. increased its position in Intel Co. (NASDAQ:INTC) by 104.0% during the 2nd quarter, Holdings Channel reports. The firm owned 28,316 shares of the chip maker’s stock after acquiring an additional 14,435 shares during the quarter. Legacy Capital Group California Inc.’s holdings in Intel were worth $877,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Intel by 0.9% during the first quarter. Vanguard Group Inc. now owns 389,098,435 shares of the chip maker’s stock valued at $17,186,478,000 after buying an additional 3,310,528 shares during the period. Capital International Investors increased its holdings in shares of Intel by 16.0% in the 1st quarter. Capital International Investors now owns 112,093,582 shares of the chip maker’s stock valued at $4,951,174,000 after acquiring an additional 15,475,631 shares during the period. Primecap Management Co. CA raised its position in shares of Intel by 0.6% in the 4th quarter. Primecap Management Co. CA now owns 75,237,927 shares of the chip maker’s stock worth $3,780,706,000 after acquiring an additional 475,636 shares in the last quarter. Norges Bank purchased a new stake in shares of Intel during the 4th quarter worth $2,424,202,000. Finally, Price T Rowe Associates Inc. MD boosted its position in Intel by 6.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 39,841,750 shares of the chip maker’s stock valued at $1,759,811,000 after purchasing an additional 2,457,243 shares in the last quarter. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

Intel Stock Down 2.5 %

Shares of NASDAQ:INTC traded down $0.53 on Tuesday, hitting $20.99. 84,082,382 shares of the company’s stock were exchanged, compared to its average volume of 52,514,273. Intel Co. has a 1-year low of $18.84 and a 1-year high of $51.28. The company has a market capitalization of $89.35 billion, a PE ratio of 21.86, a P/E/G ratio of 17.38 and a beta of 1.05. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.14 and a current ratio of 1.57. The firm’s 50-day moving average is $28.87 and its 200 day moving average is $34.55.

Intel (NASDAQ:INTC) last announced its quarterly 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 during the quarter, compared to analyst estimates of $12.92 billion. Intel had a net margin of 1.77% and a return on equity of 1.82%. The business’s revenue for the quarter was down .8% compared to the same quarter last year. During the same period last year, the company earned ($0.05) earnings per share. Sell-side analysts predict that Intel Co. will post 0.07 EPS for the current year.

Intel Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Sunday, September 1st. Investors of record on Wednesday, August 7th will be given a $0.125 dividend. The ex-dividend date is Wednesday, August 7th. This represents a $0.50 dividend on an annualized basis and a yield of 2.38%. Intel’s dividend payout ratio (DPR) is presently 52.08%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on INTC. Roth Mkm reduced their price target on Intel from $35.00 to $25.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Susquehanna lowered their target price on Intel from $35.00 to $26.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Bank of America lowered shares of Intel from a “neutral” rating to an “underperform” rating and lowered their target price for the stock from $35.00 to $23.00 in a research note on Friday, August 2nd. Northland Securities decreased their price target on shares of Intel from $68.00 to $42.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Finally, Mizuho cut shares of Intel from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $36.00 to $22.00 in a research report on Thursday, August 8th. Six research analysts have rated the stock with a sell rating, twenty-three have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $32.04.

Insider Buying and Selling at Intel

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

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.