LJI Wealth Management LLC Sells 8,293 Shares of Intel Co. (NASDAQ:INTC)

LJI Wealth Management LLC lowered its position in shares of Intel Co. (NASDAQ:INTC) by 41.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,842 shares of the chip maker’s stock after selling 8,293 shares during the period. LJI Wealth Management LLC’s holdings in Intel were worth $367,000 at the end of the most recent quarter.

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

Insider Transactions at Intel

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

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Roth Mkm reduced their price target on Intel from $35.00 to $25.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Intel from $38.00 to $27.00 and set a “hold” rating for the company in a report on Friday, August 2nd. New Street Research cut shares of Intel from a “buy” rating to a “neutral” rating in a report on Friday, August 2nd. Barclays cut their price objective on shares of Intel from $40.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Friday, August 2nd. Finally, Benchmark cut shares of Intel from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. Six equities research analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $32.04.

Intel Stock Down 3.3 %

Intel stock opened at $20.77 on Thursday. Intel Co. has a 52 week low of $18.51 and a 52 week high of $51.28. The firm has a market cap of $88.42 billion, a price-to-earnings ratio of 21.64 and a beta of 1.03. The business’s 50-day moving average price is $24.17 and its 200 day moving average price is $31.22. The company has a quick ratio of 1.24, a current ratio of 1.59 and a debt-to-equity ratio of 0.40.

Intel (NASDAQ:INTC) last issued its quarterly earnings data on Thursday, August 1st. The chip maker reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.08). Intel had a return on equity of 1.78% and a net margin of 1.77%. The firm had revenue of $12.80 billion for the quarter, compared to analyst estimates of $12.92 billion. During the same period in the previous year, the business earned ($0.05) EPS. 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 year.

Intel Dividend Announcement

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

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.