Harbor Island Capital LLC Has $7.85 Million Stock Position in Intel Co. (NASDAQ:INTC)

Financial News Live · Mar 23, 2023 05:14

Harbor Island Capital LLC trimmed its holdings in Intel Co. (NASDAQ:INTC) by 19.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 297,176 shares of the chip maker's stock after selling 73,832 shares during the quarter. Intel comprises about 5.0% of Harbor Island Capital LLC's investment portfolio, making the stock its 9th biggest holding. Harbor Island Capital LLC's holdings in Intel were worth $7,854,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of INTC. Frontier Wealth Management LLC grew its stake in shares of Intel by 0.5% in the first quarter. Frontier Wealth Management LLC now owns 46,894 shares of the chip maker's stock worth $2,181,000 after acquiring an additional 253 shares during the period. West Michigan Advisors LLC lifted its holdings in shares of Intel by 5.4% in the first quarter. West Michigan Advisors LLC now owns 5,137 shares of the chip maker's stock worth $255,000 after buying an additional 262 shares in the last quarter. Crawford Investment Counsel Inc. lifted its holdings in shares of Intel by 1.2% in the second quarter. Crawford Investment Counsel Inc. now owns 25,830 shares of the chip maker's stock worth $966,000 after buying an additional 294 shares in the last quarter. Retirement Income Solutions Inc increased its position in 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, Fortitude Advisory Group L.L.C. increased its position in Intel by 5.0% in the second quarter. Fortitude Advisory Group L.L.C. now owns 6,930 shares of the chip maker's stock worth $259,000 after purchasing an additional 327 shares during the last quarter. 59.48% of the stock is currently owned by institutional investors.

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Insider Activity at Intel

In other news, CEO Patrick P. Gelsinger acquired 9,700 shares of Intel stock in a transaction that occurred on Thursday, February 23rd. The stock was purchased at an average price of $25.68 per share, with a total value of $249,096.00. Following the completion of the transaction, the chief executive officer now owns 18,700 shares in the company, valued at $480,216. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CEO Patrick P. Gelsinger purchased 9,000 shares of Intel stock in a transaction on Tuesday, January 31st. The stock was bought at an average price of $27.83 per share, with a total value of $250,470.00. Following the completion of the transaction, the chief executive officer now directly owns 9,000 shares of the company's stock, valued at $250,470. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Patrick P. Gelsinger purchased 9,700 shares of Intel stock in a transaction on Thursday, February 23rd. The stock was bought at an average cost of $25.68 per share, with a total value of $249,096.00. Following the transaction, the chief executive officer now directly owns 18,700 shares of the company's stock, valued at $480,216. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 20,500 shares of company stock valued at $549,768. Insiders own 0.02% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on INTC shares. Wedbush reiterated an "underperform" rating and set a $20.00 price objective (down previously from $23.00) on shares of Intel in a research report on Monday, January 23rd. The Goldman Sachs Group set a $24.00 price objective on shares of Intel in a report on Friday, January 27th. Robert W. Baird cut their price target on shares of Intel from $34.00 to $32.00 and set a "neutral" rating on the stock in a report on Friday, January 27th. Needham & Company LLC reaffirmed a "buy" rating and set a $32.00 price objective on shares of Intel in a research note on Thursday, February 23rd. Finally, Evercore ISI set a $30.00 target price on Intel in a research report on Wednesday, November 23rd. Eight equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $29.48.

Intel Stock Up 0.4 %

Shares of Intel stock traded up $0.12 during midday trading on Wednesday, hitting $28.58. The company's stock had a trading volume of 4,240,916 shares, compared to its average volume of 45,352,781. The firm has a market capitalization of $118.24 billion, a P/E ratio of 14.52, a PEG ratio of 9.52 and a beta of 0.81. The stock has a 50-day simple moving average of $28.07 and a 200-day simple moving average of $28.05. The company has a quick ratio of 1.16, a current ratio of 1.57 and a debt-to-equity ratio of 0.36. Intel Co. has a 1-year low of $24.59 and a 1-year high of $52.51.

Intel (NASDAQ:INTC – Get Rating) last issued its earnings results on Thursday, January 26th. The chip maker reported $0.10 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.10). The business had revenue of $14.04 billion during the quarter, compared to analyst estimates of $14.49 billion. Intel had a return on equity of 7.45% and a net margin of 12.71%. The business's quarterly revenue was down 31.6% on a year-over-year basis. During the same period last year, the business earned $1.09 EPS. As a group, sell-side analysts expect that Intel Co. will post 0.55 earnings per share for the current year.

Intel Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 1st. Investors of record on Sunday, May 7th will be given a dividend of $0.125 per share. The ex-dividend date of this dividend is Thursday, May 4th. This represents a $0.50 dividend on an annualized basis and a yield of 1.75%. Intel's payout ratio is 74.49%.

About Intel

Intel Corp. engages in the design, manufacture, and sale of computer products and technologies. It delivers computer, networking, data storage, and communications platforms. The firm operates through the following segments: Client Computing Group (CCG), Data Center and AI (DCAI), Network and Edge (NEX), Mobileye, Accelerated Computing Systems and Graphics (AXG), Intel Foundry Services (IFS), and All Other.