Garner Asset Management Corp Boosts Position in Intel Co. (NASDAQ:INTC)

Garner Asset Management Corp increased its position in shares of Intel Co. (NASDAQ:INTC) by 3.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,434 shares of the chip maker’s stock after acquiring an additional 604 shares during the quarter. Garner Asset Management Corp’s holdings in Intel were worth $509,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of INTC. Orion Portfolio Solutions LLC grew its stake in shares of Intel by 3.1% in the 4th quarter. Orion Portfolio Solutions LLC now owns 98,320 shares of the chip maker’s stock valued at $4,764,000 after buying an additional 2,915 shares during the period. Brookstone Capital Management grew its position in Intel by 65.2% in the first quarter. Brookstone Capital Management now owns 69,096 shares of the chip maker’s stock worth $3,052,000 after acquiring an additional 27,274 shares during the period. Trexquant Investment LP increased its stake in Intel by 69.0% during the fourth quarter. Trexquant Investment LP now owns 71,126 shares of the chip maker’s stock worth $3,574,000 after acquiring an additional 29,040 shares during the last quarter. NBC Securities Inc. raised its position in Intel by 2.6% in the first quarter. NBC Securities Inc. now owns 16,681 shares of the chip maker’s stock valued at $736,000 after purchasing an additional 418 shares during the period. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Intel in the 4th quarter valued at $501,000. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Insider Activity

In related news, CEO Patrick P. Gelsinger purchased 12,500 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were purchased at an average price of $20.16 per share, for a total transaction of $252,000.00. Following the transaction, the chief executive officer now directly owns 37,975 shares of the company’s stock, valued at approximately $765,576. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.04% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on INTC shares. Roth Mkm reduced their price objective on shares of Intel from $35.00 to $25.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Truist Financial decreased their price objective on shares of Intel from $33.00 to $25.00 and set a “hold” rating on the stock in a report on Friday, August 2nd. Raymond James cut shares of Intel from an “outperform” rating to a “market perform” rating in a research report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft cut their target price on Intel from $38.00 to $27.00 and set a “hold” rating on the stock in a research report on Friday, August 2nd. Finally, StockNews.com downgraded Intel from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. Six analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Intel currently has an average rating of “Hold” and a consensus target price of $32.04.

Intel Stock Down 3.3 %

Intel stock opened at $20.77 on Thursday. The stock has a 50-day simple moving average of $24.17 and a 200-day simple moving average of $31.22. The company has a market capitalization of $88.42 billion, a P/E ratio of 21.64 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 fifty-two week low of $18.51 and a fifty-two week high of $51.28.

Intel (NASDAQ:INTC) last issued its quarterly earnings data on Thursday, August 1st. The chip maker reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates 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 1.78%. Intel’s quarterly revenue was down .8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.05) EPS. Equities research analysts expect that Intel Co. will post -0.47 earnings per share for the current year.

Intel Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th were paid a $0.125 dividend. The ex-dividend date was Wednesday, August 7th. This represents a $0.50 dividend on an annualized basis and a yield of 2.41%. Intel’s dividend payout ratio is presently 52.08%.

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.