Platinum Investment Management Ltd. decreased its position in shares of Intel Co. (NASDAQ:INTC – Free Report) by 17.7% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,628 shares of the chip maker’s stock after selling 1,646 shares during the period. Platinum Investment Management Ltd.’s holdings in Intel were worth $255,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also bought and sold shares of INTC. Cantor Fitzgerald Investment Advisor L.P grew its holdings in shares of Intel by 173.6% in the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 539,976 shares of the chip maker’s stock worth $26,761,000 after purchasing an additional 342,649 shares during the last quarter. Axiom Financial Strategies LLC grew its holdings in shares of Intel by 21.6% in the first quarter. Axiom Financial Strategies LLC now owns 5,944 shares of the chip maker’s stock worth $260,000 after purchasing an additional 1,056 shares during the last quarter. Fairfield Bush & CO. bought a new position in shares of Intel in the first quarter worth about $142,000. Retirement Income Solutions Inc grew its holdings in shares of Intel by 5.1% in the first quarter. Retirement Income Solutions Inc now owns 6,338 shares of the chip maker’s stock worth $314,000 after purchasing an additional 307 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Intel by 26.9% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,863,459 shares of the chip maker’s stock worth $290,593,000 after purchasing an additional 1,244,247 shares during the last quarter. Institutional investors own 60.84% of the company’s stock.
Insider Buying and Selling at Intel
In other Intel news, CEO Patrick P. Gelsinger purchased 6,775 shares of the stock in a transaction on Wednesday, November 1st. The shares were bought at an average cost of $36.80 per share, with a total value of $249,320.00. Following the completion of the acquisition, the chief executive officer now owns 25,475 shares in the company, valued at $937,480. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.04% of the stock is owned by corporate insiders.
Intel Stock Performance
Intel (NASDAQ:INTC – Get Free Report) last announced its quarterly earnings data on Thursday, October 26th. The chip maker reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.20. The firm had revenue of $14.20 billion for the quarter, compared to analyst estimates of $13.57 billion. Intel had a negative net margin of 3.11% and a positive return on equity of 0.49%. The business’s quarterly revenue was down 7.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.59 earnings per share. Equities analysts anticipate that Intel Co. will post 0.19 EPS for the current fiscal year.
Intel Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Tuesday, November 7th will be issued a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 1.14%. The ex-dividend date of this dividend is Monday, November 6th. Intel’s payout ratio is -125.00%.
Wall Street Analysts Forecast Growth
A number of research analysts have recently commented on INTC shares. Rosenblatt Securities restated a “sell” rating and issued a $17.00 price target on shares of Intel in a report on Friday, October 27th. Evercore ISI upped their price objective on shares of Intel from $36.00 to $40.00 and gave the stock an “in-line” rating in a research note on Friday, July 28th. Wolfe Research upped their price objective on shares of Intel from $27.00 to $31.00 and gave the stock an “underperform” rating in a research note on Friday, July 28th. HSBC raised shares of Intel from a “reduce” rating to a “hold” rating and upped their price objective for the stock from $27.00 to $33.00 in a research note on Friday, October 27th. Finally, UBS Group upped their price objective on shares of Intel from $35.00 to $38.00 and gave the stock a “neutral” rating in a research note on Friday, July 28th. Four analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $35.53.
Intel Corporation designs, develops, manufactures, markets, and sells computing and related products worldwide. It operates through Client Computing Group, Data Center and AI, Network and Edge, Mobileye, Accelerated Computing Systems and Graphics, Intel Foundry Services, and Other segments. The company offers platform products, such as central processing units and chipsets, and system-on-chip and multichip packages; and accelerators, boards and systems, connectivity products, and memory and storage products.
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