Bonness Enterprises Inc. Increases Stock Position in Intel Co. (NASDAQ:INTC)

Bonness Enterprises Inc. grew its position in Intel Co. (NASDAQ:INTC) by 7.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 141,150 shares of the chip maker’s stock after purchasing an additional 10,000 shares during the period. Intel comprises about 1.1% of Bonness Enterprises Inc.’s portfolio, making the stock its 20th largest position. Bonness Enterprises Inc.’s holdings in Intel were worth $3,311,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. America First Investment Advisors LLC bought a new position in Intel during the second quarter valued at about $25,000. Tributary Capital Management LLC bought a new position in shares of Intel in the first quarter valued at approximately $27,000. Cyrus J. Lawrence LLC bought a new position in shares of Intel in the second quarter valued at approximately $27,000. Spartan Fund Management Inc. bought a new position in shares of Intel in the second quarter valued at approximately $31,000. Finally, Financial Connections Group Inc. bought a new position in shares of Intel in the second quarter valued at approximately $32,000. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Insider Activity at Intel

In related news, CEO Patrick P. Gelsinger purchased 12,500 shares of the business’s stock in a transaction that occurred on 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 acquisition, the chief executive officer now directly owns 37,975 shares in the company, valued at approximately $765,576. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.04% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

INTC has been the subject of a number of analyst reports. Susquehanna cut their price objective on shares of Intel from $35.00 to $26.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. The Goldman Sachs Group cut their price objective on shares of Intel from $22.00 to $21.00 and set a “sell” rating for the company in a research report on Thursday. Rosenblatt Securities reaffirmed a “sell” rating and issued a $17.00 target price on shares of Intel in a research note on Friday, August 2nd. Argus downgraded shares of Intel from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of Intel from $27.00 to $25.00 and set a “hold” rating on the stock in a research note on Thursday, October 3rd. Six investment analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Intel presently has a consensus rating of “Hold” and a consensus target price of $31.92.

Intel Trading Up 1.5 %

Shares of Intel stock traded up $0.33 on Friday, hitting $22.77. The stock had a trading volume of 39,971,695 shares, compared to its average volume of 58,832,660. The company has a quick ratio of 1.24, a current ratio of 1.59 and a debt-to-equity ratio of 0.40. Intel Co. has a one year low of $18.51 and a one year high of $51.28. The stock has a market cap of $96.93 billion, a price-to-earnings ratio of 23.72 and a beta of 1.03. The stock’s 50-day simple moving average is $21.40 and its two-hundred day simple moving average is $28.14.

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

Intel Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 7th were issued a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 2.20%. The ex-dividend date was Wednesday, August 7th. Intel’s dividend payout ratio (DPR) is currently 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.