Intel Co. (NASDAQ:INTC) Shares Purchased by Sound Income Strategies LLC

Sound Income Strategies LLC grew its stake in shares of Intel Co. (NASDAQ:INTC) by 19.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,053 shares of the chip maker’s stock after acquiring an additional 1,309 shares during the period. Sound Income Strategies LLC’s holdings in Intel were worth $249,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Frazier Financial Advisors LLC purchased a new position in Intel in the 4th quarter valued at about $27,000. Burkett Financial Services LLC acquired a new stake in Intel during the fourth quarter worth approximately $27,000. Tributary Capital Management LLC purchased a new stake in Intel in the 1st quarter worth approximately $27,000. Dixon Mitchell Investment Counsel Inc. purchased a new position in shares of Intel during the 1st quarter worth $36,000. Finally, Signature Resources Capital Management LLC purchased a new stake in shares of Intel in the fourth quarter valued at $37,000. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on INTC. UBS Group lowered their price objective on shares of Intel from $37.00 to $32.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. New Street Research downgraded Intel from a “buy” rating to a “neutral” rating in a research report on Friday, August 2nd. Rosenblatt Securities reiterated a “sell” rating and set a $17.00 target price on shares of Intel in a report on Friday, August 2nd. Barclays lowered their price objective on shares of Intel from $40.00 to $25.00 and set an “equal weight” rating for the company in a research report on Friday, August 2nd. Finally, Hsbc Global Res cut shares of Intel from a “hold” rating to a “moderate sell” rating in a research report on Friday, August 2nd. Six equities research analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $32.04.

Intel Price Performance

Shares of INTC traded down $0.78 during trading hours on Friday, hitting $19.71. 76,394,546 shares of the company were exchanged, compared to its average volume of 51,828,367. The firm has a fifty day simple moving average of $30.28 and a 200-day simple moving average of $35.80. The company has a market capitalization of $83.91 billion, a PE ratio of 20.53, a PEG ratio of 17.38 and a beta of 1.05. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.57 and a quick ratio of 1.14. Intel Co. has a one year low of $18.84 and a one year high of $51.28.

Intel (NASDAQ:INTC) last issued its quarterly earnings results on Thursday, August 1st. The chip maker reported $0.02 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.08). The firm had revenue of $12.80 billion during the quarter, compared to analysts’ expectations of $12.92 billion. Intel had a net margin of 1.77% and a return on equity of 1.82%. The firm’s revenue was down .8% compared to the same quarter last year. During the same quarter last year, the company posted ($0.05) EPS. As a group, sell-side analysts predict that Intel Co. will post 0.07 earnings per share for the current year.

Intel Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th will be given a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 2.54%. The ex-dividend date is Wednesday, August 7th. Intel’s dividend payout ratio is 52.08%.

Insider Transactions at Intel

In other news, CEO Patrick P. Gelsinger acquired 12,500 shares of Intel stock in a transaction dated Monday, August 5th. The stock was acquired at an average cost of $20.16 per share, for a total transaction of $252,000.00. Following the completion of the purchase, the chief executive officer now owns 37,975 shares of the company’s stock, valued at $765,576. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.04% of the stock is currently owned by company insiders.

Intel Company 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.