Federated Hermes Inc. Has $11.52 Million Holdings in Intel Co. (NASDAQ:INTC)

Federated Hermes Inc. trimmed its holdings in Intel Co. (NASDAQ:INTC) by 0.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 371,841 shares of the chip maker’s stock after selling 1,489 shares during the period. Federated Hermes Inc.’s holdings in Intel were worth $11,516,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in INTC. America First Investment Advisors LLC acquired a new stake in Intel during the 2nd quarter valued at $25,000. Frazier Financial Advisors LLC bought a new stake in shares of Intel during the 4th quarter worth about $27,000. Burkett Financial Services LLC acquired a new position in Intel in the 4th quarter valued at about $27,000. Tributary Capital Management LLC bought a new position in Intel in the 1st quarter valued at about $27,000. Finally, Spartan Fund Management Inc. acquired a new stake in Intel during the second quarter worth approximately $31,000. 64.53% of the stock is currently owned by institutional investors.

Intel Stock Up 6.4 %

Shares of INTC opened at $20.91 on Tuesday. The stock has a market capitalization of $89.41 billion, a price-to-earnings ratio of 21.78 and a beta of 1.03. Intel Co. has a 52 week low of $18.51 and a 52 week high of $51.28. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.24 and a current ratio of 1.59. The stock has a fifty day moving average of $24.71 and a 200-day moving average of $31.45.

Intel (NASDAQ:INTC) last posted its 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). Intel had a net margin of 1.77% and a return on equity of 1.78%. The firm had revenue of $12.80 billion during the quarter, compared to the consensus estimate of $12.92 billion. During the same quarter in the prior year, the business posted ($0.05) earnings per share. Intel’s revenue for the quarter was down .8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Intel Co. will post -0.47 earnings per share for the current fiscal year.

Intel Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th were paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 2.39%. The ex-dividend date of this dividend was Wednesday, August 7th. Intel’s payout ratio is currently 52.08%.

Insider Transactions at Intel

In related news, CEO Patrick P. Gelsinger acquired 12,500 shares of the firm’s stock in a transaction that occurred on 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 acquisition, the chief executive officer now directly owns 37,975 shares of the company’s stock, valued at approximately $765,576. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.04% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Hsbc Global Res lowered Intel from a “hold” rating to a “moderate sell” rating in a research note on Friday, August 2nd. Bank of America cut Intel from a “neutral” rating to an “underperform” rating and lowered their price objective for the stock from $35.00 to $23.00 in a research report on Friday, August 2nd. Mizuho cut shares of Intel from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $36.00 to $22.00 in a research report on Thursday, August 8th. TD Cowen lowered their price target on shares of Intel from $35.00 to $25.00 and set a “hold” rating on the stock in a research report on Friday, August 2nd. Finally, Roth Mkm cut their price objective on shares of Intel from $35.00 to $25.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Six research analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $32.04.

Intel 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.