LGT Group Foundation Lowers Position in Intel Co. (NASDAQ:INTC)

LGT Group Foundation cut its stake in Intel Co. (NASDAQ:INTC) by 23.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 115,489 shares of the chip maker’s stock after selling 34,884 shares during the quarter. LGT Group Foundation’s holdings in Intel were worth $3,577,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of INTC. Frazier Financial Advisors LLC purchased a new stake in shares of Intel in the fourth quarter worth approximately $27,000. Burkett Financial Services LLC purchased a new stake in shares of Intel in the fourth quarter worth approximately $27,000. Tributary Capital Management LLC purchased a new stake in shares of Intel in the first quarter worth approximately $27,000. Spartan Fund Management Inc. purchased a new stake in shares of Intel during the second quarter valued at approximately $31,000. Finally, Financial Connections Group Inc. purchased a new stake in shares of Intel during the second quarter valued at approximately $32,000. 64.53% of the stock is owned by hedge funds and other institutional investors.

Intel Price Performance

NASDAQ:INTC opened at $19.07 on Tuesday. The firm has a market capitalization of $81.54 billion, a price-to-earnings ratio of 19.86 and a beta of 1.03. Intel Co. has a 52-week low of $18.64 and a 52-week high of $51.28. The stock has a fifty day moving average of $25.93 and a 200 day moving average of $32.26. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.24 and a current ratio of 1.59.

Intel (NASDAQ:INTC) last posted its quarterly earnings data 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 business had revenue of $12.80 billion for the quarter, compared to the consensus estimate of $12.92 billion. Intel had a net margin of 1.77% and a return on equity of 1.78%. Intel’s quarterly revenue was down .8% on a year-over-year basis. During the same period in the prior year, the business posted ($0.05) EPS. On average, research analysts expect that Intel Co. will post -0.47 EPS for the current fiscal year.

Intel Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 7th were paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 2.62%. The ex-dividend date was Wednesday, August 7th. Intel’s dividend payout ratio is 52.08%.

Insiders Place Their Bets

In other news, CEO Patrick P. Gelsinger purchased 12,500 shares of the company’s stock in a transaction on Monday, August 5th. The stock was purchased 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 approximately $765,576. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.04% of the company’s stock.

Analyst Ratings Changes

INTC has been the subject of a number of research analyst reports. Benchmark downgraded Intel from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. Mizuho downgraded Intel from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $36.00 to $22.00 in a research report on Thursday, August 8th. Susquehanna decreased their target price on Intel from $35.00 to $26.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Rosenblatt Securities reissued a “sell” rating and issued a $17.00 target price on shares of Intel in a research report on Friday, August 2nd. Finally, TD Cowen decreased their target price on Intel from $35.00 to $25.00 and set a “hold” rating for the company 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 stock. According to MarketBeat.com, Intel currently has an average rating of “Hold” and an average target price of $32.04.

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.