Argus Investors Counsel Inc. Boosts Stake in Intel Co. (NASDAQ:INTC)

Financial News Live · Mar 25, 2023 01:25

Argus Investors Counsel Inc. lifted its holdings in Intel Co. (NASDAQ:INTC – Get Rating) by 3.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,660 shares of the chip maker's stock after purchasing an additional 1,000 shares during the period. Argus Investors Counsel Inc.'s holdings in Intel were worth $784,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. O Dell Group LLC lifted its holdings in Intel by 258.1% during the third quarter. O Dell Group LLC now owns 974 shares of the chip maker's stock valued at $25,000 after purchasing an additional 702 shares in the last quarter. Islay Capital Management LLC purchased a new position in Intel in the 3rd quarter valued at about $26,000. Mach 1 Financial Group LLC acquired a new stake in Intel in the 3rd quarter worth about $29,000. Phocas Financial Corp. acquired a new position in shares of Intel during the fourth quarter valued at approximately $33,000. Finally, Glassy Mountain Advisors Inc. purchased a new position in shares of Intel in the fourth quarter valued at approximately $37,000. Institutional investors and hedge funds own 59.48% of the company's stock.

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Wall Street Analyst Weigh In

A number of research firms have recently issued reports on INTC. Needham & Company LLC reaffirmed a "buy" rating and set a $32.00 target price on shares of Intel in a report on Thursday, February 23rd. Bank of America cut their price objective on shares of Intel from $28.00 to $25.00 and set an "underperform" rating for the company in a report on Friday, January 27th. Rosenblatt Securities lowered their target price on Intel from $20.00 to $17.00 and set a "sell" rating on the stock in a report on Friday, January 27th. The Goldman Sachs Group set a $24.00 price target on Intel in a report on Friday, January 27th. Finally, Barclays lowered their price objective on Intel from $30.00 to $27.00 and set an "equal weight" rating on the stock in a research note on Friday, January 27th. Eight 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. Based on data from MarketBeat.com, Intel currently has a consensus rating of "Hold" and a consensus price target of $29.48.

Intel Trading Up 1.3 %

Intel stock traded up $0.38 during midday trading on Friday, reaching $29.41. 10,468,888 shares of the stock traded hands, compared to its average volume of 45,211,371. The company has a current ratio of 1.57, a quick ratio of 1.16 and a debt-to-equity ratio of 0.36. The firm has a market cap of $121.67 billion, a PE ratio of 14.81, a price-to-earnings-growth ratio of 9.09 and a beta of 0.81. The company has a 50-day simple moving average of $28.01 and a two-hundred day simple moving average of $28.06. Intel Co. has a 12-month low of $24.59 and a 12-month high of $52.51.

Intel (NASDAQ:INTC – Get Rating) last posted its quarterly earnings data on Thursday, January 26th. The chip maker reported $0.10 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.10). Intel had a net margin of 12.71% and a return on equity of 7.45%. The business had revenue of $14.04 billion during the quarter, compared to analysts' expectations of $14.49 billion. During the same period in the previous year, the business posted $1.09 EPS. The company's revenue for the quarter was down 31.6% compared to the same quarter last year. Research analysts expect that Intel Co. will post 0.55 earnings per share for the current fiscal year.

Intel Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 1st. Stockholders of record on Sunday, May 7th will be paid a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 1.70%. The ex-dividend date is Thursday, May 4th. Intel's payout ratio is currently 74.49%.

Insider Activity at Intel

In related news, CFO David Zinsner purchased 1,800 shares of the business's stock in a transaction on Monday, January 30th. The shares were bought at an average price of $27.89 per share, for a total transaction of $50,202.00. Following the acquisition, the chief financial officer now directly owns 17,450 shares in the company, valued at $486,680.50. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO David Zinsner purchased 1,800 shares of the firm's stock in a transaction that occurred on Monday, January 30th. The stock was bought at an average price of $27.89 per share, for a total transaction of $50,202.00. Following the completion of the purchase, the chief financial officer now directly owns 17,450 shares of the company's stock, valued at $486,680.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Patrick P. Gelsinger acquired 9,700 shares of the company's stock in a transaction on Thursday, February 23rd. The stock was purchased at an average cost of $25.68 per share, for a total transaction of $249,096.00. Following the completion of the transaction, the chief executive officer now owns 18,700 shares in the company, valued at approximately $480,216. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 20,500 shares of company stock worth $549,768. Company insiders own 0.02% of the company's stock.

About Intel

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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.