Middleton & Co. Inc. MA Reduces Holdings in Intel Co. (NASDAQ:INTC)

Middleton & Co. Inc. MA reduced its position in Intel Co. (NASDAQ:INTC) by 14.2% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 10,400 shares of the chip maker’s stock after selling 1,725 shares during the period. Middleton & Co. Inc. MA’s holdings in Intel were worth $322,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its stake in Intel by 543.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 37,384,507 shares of the chip maker’s stock valued at $1,878,572,000 after buying an additional 31,575,084 shares during the last quarter. Capital International Investors boosted its stake in Intel by 16.0% during the 1st quarter. Capital International Investors now owns 112,093,582 shares of the chip maker’s stock worth $4,951,174,000 after purchasing an additional 15,475,631 shares during the period. Van ECK Associates Corp grew its position in Intel by 60.5% during the 2nd quarter. Van ECK Associates Corp now owns 34,591,800 shares of the chip maker’s stock worth $1,071,308,000 after purchasing an additional 13,035,566 shares during the last quarter. Davis Selected Advisers increased its stake in Intel by 86.2% in the second quarter. Davis Selected Advisers now owns 12,642,316 shares of the chip maker’s stock valued at $391,533,000 after purchasing an additional 5,851,098 shares during the period. Finally, Vanguard Group Inc. increased its stake in Intel by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 385,787,907 shares of the chip maker’s stock valued at $19,385,842,000 after purchasing an additional 4,678,169 shares during the period. 64.53% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Patrick P. Gelsinger bought 12,500 shares of Intel stock in a transaction on 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 owns 37,975 shares in the company, valued at $765,576. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.04% of the stock is currently owned by company insiders.

Analyst Ratings Changes

INTC has been the subject of several recent research reports. Susquehanna lowered their price target on Intel from $35.00 to $26.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Bank of America lowered shares of Intel from a “neutral” rating to an “underperform” rating and lowered their price objective for the company from $35.00 to $23.00 in a research report on Friday, August 2nd. Daiwa America upgraded shares of Intel to a “hold” rating in a research report on Monday, August 26th. The Goldman Sachs Group lowered their target price on shares of Intel from $29.00 to $22.00 and set a “sell” rating on the stock in a report on Friday, August 2nd. Finally, Truist Financial cut their price target on shares of Intel from $33.00 to $25.00 and set a “hold” rating for the company in a report on Friday, August 2nd. Six analysts have rated the stock with a sell rating, twenty-four have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $32.04.

Intel Stock Down 3.3 %

Shares of NASDAQ INTC opened at $20.77 on Thursday. The firm’s 50-day moving average is $24.17 and its two-hundred day moving average is $31.22. The company has a market capitalization of $88.42 billion, a PE ratio of 21.64 and a beta of 1.03. Intel Co. has a 12-month low of $18.51 and a 12-month high of $51.28. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.59 and a quick ratio of 1.24.

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

Intel Dividend Announcement

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

About Intel

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.