Clear Harbor Asset Management LLC Cuts Position in Intel Co. (NASDAQ:INTC)

Clear Harbor Asset Management LLC lessened its holdings in Intel Co. (NASDAQ:INTC) by 11.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 35,057 shares of the chip maker’s stock after selling 4,610 shares during the quarter. Clear Harbor Asset Management LLC’s holdings in Intel were worth $822,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Tributary Capital Management LLC acquired a new position in Intel in the first quarter valued at $27,000. Dixon Mitchell Investment Counsel Inc. acquired a new stake in shares of Intel in the 1st quarter valued at about $36,000. America First Investment Advisors LLC purchased a new position in Intel during the 2nd quarter worth approximately $25,000. Cyrus J. Lawrence LLC acquired a new position in Intel during the second quarter worth approximately $27,000. Finally, Spartan Fund Management Inc. purchased a new stake in Intel in the second quarter valued at approximately $31,000. 64.53% of the stock is currently owned by institutional investors and hedge funds.

Intel Stock Performance

Shares of INTC opened at $22.68 on Monday. The company has a market capitalization of $96.98 billion, a price-to-earnings ratio of 98.61 and a beta of 1.03. 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 Co. has a 1 year low of $18.51 and a 1 year high of $51.28. The company’s 50 day simple moving average is $21.62 and its 200 day simple moving average is $27.38.

Intel (NASDAQ:INTC) last announced its quarterly earnings data on Thursday, August 1st. The chip maker reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.08). Intel had a return on equity of 1.78% and a net margin of 1.77%. The company had revenue of $12.80 billion for the quarter, compared to analysts’ expectations of $12.92 billion. During the same quarter in the previous year, the company earned ($0.05) earnings per share. The company’s revenue was down .8% on a year-over-year basis. On average, sell-side analysts predict that Intel Co. will post -0.47 EPS for the current year.

Intel Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 7th were given a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 2.20%. The ex-dividend date of this dividend was Wednesday, August 7th. Intel’s dividend payout ratio (DPR) is currently 217.40%.

Insider Activity at Intel

In other news, CEO Patrick P. Gelsinger acquired 12,500 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were bought at an average cost of $20.16 per share, for a total transaction of $252,000.00. Following the acquisition, the chief executive officer now directly owns 37,975 shares in the company, valued at $765,576. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.04% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

INTC has been the topic of several research reports. Mizuho downgraded shares of Intel from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $36.00 to $22.00 in a research report on Thursday, August 8th. Cantor Fitzgerald dropped their target price on Intel from $40.00 to $27.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. StockNews.com lowered shares of Intel from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. Raymond James downgraded shares of Intel from an “outperform” rating to a “market perform” rating in a research report on Friday, August 2nd. Finally, Argus downgraded shares of Intel from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Six analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $30.80.

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.