Plimoth Trust Co. LLC Boosts Stake in Intel Co. (NASDAQ:INTC)

Plimoth Trust Co. LLC lifted its holdings in shares of Intel Co. (NASDAQ:INTC) by 2.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 94,855 shares of the chip maker’s stock after purchasing an additional 1,860 shares during the quarter. Plimoth Trust Co. LLC’s holdings in Intel were worth $2,938,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of INTC. Frazier Financial Advisors LLC acquired a new position in Intel during the fourth quarter worth $27,000. Burkett Financial Services LLC acquired a new position in Intel in the 4th quarter valued at about $27,000. Tributary Capital Management LLC purchased a new stake in Intel during the first quarter worth about $27,000. Triad Wealth Partners LLC purchased a new stake in Intel during the second quarter worth about $33,000. Finally, Dixon Mitchell Investment Counsel Inc. acquired a new stake in shares of Intel during the first quarter worth about $36,000. 64.53% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Patrick P. Gelsinger acquired 12,500 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were acquired at an average price of $20.16 per share, with a total value of $252,000.00. Following the completion of the purchase, the chief executive officer now directly owns 37,975 shares in the company, valued at $765,576. The purchase was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.04% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on INTC. The Goldman Sachs Group reduced their price objective on Intel from $29.00 to $22.00 and set a “sell” rating on the stock in a research note on Friday, August 2nd. Needham & Company LLC reaffirmed a “hold” rating on shares of Intel in a research report on Friday, April 26th. Bank of America downgraded Intel from a “neutral” rating to an “underperform” rating and lowered their price objective for the stock from $35.00 to $23.00 in a research report on Friday, August 2nd. Wolfe Research raised shares of Intel from an “underperform” rating to a “peer perform” rating in a report on Thursday, May 16th. Finally, TD Cowen lowered their price target on shares of Intel from $35.00 to $25.00 and set a “hold” rating for the company in a report on Friday, August 2nd. Six investment analysts have rated the stock with a sell rating, twenty-three have given a hold rating and one has given a buy rating to the company. According to MarketBeat, Intel currently has an average rating of “Hold” and a consensus target price of $32.04.

Intel Price Performance

Shares of NASDAQ:INTC traded down $1.31 on Thursday, reaching $20.10. 81,280,543 shares of the company were exchanged, compared to its average volume of 52,719,859. The company has a 50-day moving average of $28.48 and a 200-day moving average of $34.35. 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 firm has a market cap of $85.57 billion, a price-to-earnings ratio of 20.94, a price-to-earnings-growth 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.

Intel (NASDAQ:INTC) last released its quarterly 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 during 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 business’s revenue was down .8% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.05) EPS. Equities analysts forecast that Intel Co. will post 0.07 earnings per share for the current fiscal year.

Intel Announces Dividend

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 paid a dividend of $0.125 per share. 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 2.49%. Intel’s dividend payout ratio (DPR) is 52.08%.

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.