Intel Co. (NASDAQ:INTC) Shares Sold by Corundum Group Inc.

Corundum Group Inc. cut its holdings in Intel Co. (NASDAQ:INTC) by 30.0% in the 3rd quarter, HoldingsChannel reports. The fund owned 39,560 shares of the chip maker’s stock after selling 16,968 shares during the period. Corundum Group Inc.’s holdings in Intel were worth $928,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in Intel by 0.9% during the first quarter. Vanguard Group Inc. now owns 389,098,435 shares of the chip maker’s stock worth $17,186,478,000 after buying an additional 3,310,528 shares during the period. Capital International Investors increased its stake in shares of Intel by 16.0% during 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 last quarter. Primecap Management Co. CA lifted its holdings in shares of Intel by 2.2% during the 2nd quarter. Primecap Management Co. CA now owns 77,822,587 shares of the chip maker’s stock worth $2,410,166,000 after acquiring an additional 1,697,550 shares during the period. Price T Rowe Associates Inc. MD raised its stake 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 worth $1,759,811,000 after purchasing an additional 2,457,243 shares during the period. Finally, Legal & General Group Plc grew its stake in shares of Intel by 1.3% during the 2nd quarter. Legal & General Group Plc now owns 37,513,226 shares of the chip maker’s stock valued at $1,161,779,000 after buying an additional 487,191 shares during the period. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Analyst Ratings Changes

INTC has been the topic of a number of research analyst reports. New Street Research cut Intel from a “buy” rating to a “neutral” rating in a report on Friday, August 2nd. TD Cowen upgraded shares of Intel to a “hold” rating in a report on Monday, September 16th. Susquehanna decreased their price objective on shares of Intel from $35.00 to $26.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. UBS Group cut their target price on shares of Intel from $37.00 to $32.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Finally, Raymond James cut shares of Intel from an “outperform” rating to a “market perform” rating in a research report on Friday, August 2nd. 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’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $31.92.

Intel Trading Up 1.5 %

NASDAQ:INTC opened at $22.77 on Monday. The company has a market cap of $96.93 billion, a PE ratio of 23.72 and a beta of 1.03. The business’s 50 day moving average is $21.40 and its two-hundred day moving average is $27.94. 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 52 week low of $18.51 and a 52 week high of $51.28.

Intel (NASDAQ:INTC) last issued 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). 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 analyst estimates of $12.92 billion. During the same period last year, the company posted ($0.05) earnings per share. The firm’s revenue for the quarter was down .8% on a year-over-year basis. On average, analysts predict that Intel Co. will post -0.47 EPS for the current year.

Intel Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th were given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date was Wednesday, August 7th. Intel’s payout ratio is 52.08%.

Insider Buying and Selling

In related news, CEO Patrick P. Gelsinger bought 12,500 shares of the company’s stock in a transaction on Monday, August 5th. The shares were purchased at an average cost of $20.16 per share, with a total value of $252,000.00. Following the completion of the transaction, the chief executive officer now directly owns 37,975 shares of the company’s stock, valued at approximately $765,576. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.04% of the company’s stock.

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.