Orca Investment Management LLC Buys 2,091 Shares of Intel Co. (NASDAQ:INTC)

Orca Investment Management LLC raised its stake in Intel Co. (NASDAQ:INTC) by 3.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 58,246 shares of the chip maker’s stock after purchasing an additional 2,091 shares during the period. Intel accounts for 1.2% of Orca Investment Management LLC’s holdings, making the stock its 27th biggest holding. Orca Investment Management LLC’s holdings in Intel were worth $1,366,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. America First Investment Advisors LLC acquired a new position in shares of Intel during the second quarter valued at about $25,000. Tributary Capital Management LLC acquired a new position in shares of Intel during the first quarter valued at about $27,000. Cyrus J. Lawrence LLC acquired a new position in shares of Intel during the second quarter valued at about $27,000. Spartan Fund Management Inc. acquired a new position in shares of Intel during the second quarter valued at about $31,000. Finally, Financial Connections Group Inc. acquired a new position in shares of Intel during the second quarter valued at about $32,000. 64.53% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Patrick P. Gelsinger purchased 12,500 shares of the business’s stock in a transaction on Monday, August 5th. The stock was acquired at an average price of $20.16 per share, with a total value of $252,000.00. Following the purchase, the chief executive officer now directly owns 37,975 shares in the company, valued at approximately $765,576. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.04% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Hsbc Global Res cut shares of Intel from a “hold” rating to a “moderate sell” rating in a report on Friday, August 2nd. Susquehanna cut their price target on shares of Intel from $35.00 to $26.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. The Goldman Sachs Group cut their price target on shares of Intel from $29.00 to $22.00 and set a “sell” rating on the stock in a report on Friday, August 2nd. Argus cut shares of Intel from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Finally, Barclays cut their price target on shares of Intel from $40.00 to $25.00 and set an “equal weight” rating on the stock in a report on Friday, August 2nd. Six research analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Intel has an average rating of “Hold” and a consensus target price of $31.96.

Intel Stock Performance

Intel stock opened at $23.56 on Monday. The firm’s 50 day simple moving average is $21.12 and its 200 day simple moving average is $28.67. The company has a current ratio of 1.59, a quick ratio of 1.24 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $100.29 billion, a PE ratio of 24.54 and a beta of 1.03. Intel Co. has a 1-year low of $18.51 and a 1-year high of $51.28.

Intel (NASDAQ:INTC) last posted 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 return on equity of 1.78% and a net margin of 1.77%. The business’s revenue was down .8% on a year-over-year basis. During the same period last year, the company posted ($0.05) EPS. As a group, analysts expect that Intel Co. will post -0.47 earnings per share for the current fiscal year.

Intel Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Shareholders 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 dividend on an annualized basis and a yield of 2.12%. Intel’s dividend payout ratio is presently 52.08%.

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.