Fairfield Financial Advisors LTD Buys Shares of 1,116 Intel Co. (NASDAQ:INTC)

Fairfield Financial Advisors LTD bought a new stake in Intel Co. (NASDAQ:INTC) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,116 shares of the chip maker’s stock, valued at approximately $35,000.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Redwood Wealth Management Group LLC acquired a new position in Intel in the second quarter valued at about $99,000. Stevard LLC lifted its stake in Intel by 18.6% in the second quarter. Stevard LLC now owns 9,572 shares of the chip maker’s stock valued at $296,000 after buying an additional 1,500 shares during the period. Retirement Planning Co of New England Inc. lifted its stake in Intel by 4.3% in the second quarter. Retirement Planning Co of New England Inc. now owns 29,341 shares of the chip maker’s stock valued at $909,000 after buying an additional 1,216 shares during the period. Mystic Asset Management Inc. lifted its stake in Intel by 4.4% in the second quarter. Mystic Asset Management Inc. now owns 40,556 shares of the chip maker’s stock valued at $1,256,000 after buying an additional 1,726 shares during the period. Finally, Wilkins Investment Counsel Inc. lifted its stake in Intel by 2.1% in the second quarter. Wilkins Investment Counsel Inc. now owns 533,992 shares of the chip maker’s stock valued at $16,538,000 after buying an additional 11,077 shares during the period. Institutional investors and hedge funds own 64.53% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on INTC shares. HSBC lowered Intel from a “hold” rating to a “reduce” rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. dropped their price target on Intel from $35.00 to $26.00 and set an “underweight” rating on the stock in a research report on Friday, August 2nd. Mizuho lowered Intel from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $36.00 to $22.00 in a research report on Thursday, August 8th. Truist Financial dropped their price target on Intel from $33.00 to $25.00 and set a “hold” rating on the stock in a research report on Friday, August 2nd. Finally, Bank of America lowered Intel from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $35.00 to $23.00 in a research report on Friday, August 2nd. Six analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $32.04.

Insider Activity at Intel

In other news, CEO Patrick P. Gelsinger purchased 12,500 shares of Intel stock in a transaction that occurred on Monday, August 5th. The stock was acquired at an average cost of $20.16 per share, for a total transaction of $252,000.00. Following the purchase, the chief executive officer now directly owns 37,975 shares of the company’s stock, valued at approximately $765,576. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.04% of the stock is currently owned by corporate insiders.

Intel Stock Performance

Shares of NASDAQ INTC opened at $19.66 on Monday. The company has a current ratio of 1.59, a quick ratio of 1.24 and a debt-to-equity ratio of 0.40. Intel Co. has a 12 month low of $18.51 and a 12 month high of $51.28. The stock has a 50 day moving average of $24.98 and a 200-day moving average of $31.60. The company has a market capitalization of $84.07 billion, a P/E ratio of 20.48 and a beta of 1.03.

Intel (NASDAQ:INTC) last issued its earnings results on Thursday, August 1st. The chip maker reported $0.02 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.08). Intel had a return on equity of 1.78% and a net margin of 1.77%. The business had revenue of $12.80 billion for the quarter, compared to the consensus estimate of $12.92 billion. During the same quarter in the prior year, the firm posted ($0.05) earnings per share. The business’s revenue was down .8% compared to the same quarter last year. As a group, equities research analysts predict that Intel Co. will post -0.47 EPS for the current year.

Intel Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 7th were paid a $0.125 dividend. The ex-dividend date was Wednesday, August 7th. This represents a $0.50 annualized dividend and a yield of 2.54%. Intel’s dividend payout ratio (DPR) is presently 52.08%.

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.