King Luther Capital Management Corp Sells 61,815 Shares of Intel Co. (NASDAQ:INTC)

King Luther Capital Management Corp lowered its position in shares of Intel Co. (NASDAQ:INTC) by 30.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 140,393 shares of the chip maker’s stock after selling 61,815 shares during the period. King Luther Capital Management Corp’s holdings in Intel were worth $4,348,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Burkett Financial Services LLC bought a new stake in shares of Intel in the 4th quarter valued at about $27,000. Tributary Capital Management LLC bought a new stake in shares of Intel in the 1st quarter valued at about $27,000. Dixon Mitchell Investment Counsel Inc. bought a new stake in shares of Intel in the 1st quarter valued at about $36,000. America First Investment Advisors LLC bought a new stake in shares of Intel in the 2nd quarter valued at about $25,000. Finally, Richardson Financial Services Inc. bought a new stake in shares of Intel in the 4th quarter valued at about $46,000. Institutional investors own 64.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on INTC shares. Benchmark lowered Intel from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. Roth Mkm reduced their price target on Intel from $35.00 to $25.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Mizuho downgraded Intel from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $36.00 to $22.00 in a report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft reduced their price target on Intel from $38.00 to $27.00 and set a “hold” rating on the stock in a report on Friday, August 2nd. Finally, The Goldman Sachs Group reduced their price target on Intel from $29.00 to $22.00 and set a “sell” rating on the stock in a report on Friday, August 2nd. Six equities research analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $32.04.

Intel Stock Performance

Intel stock opened at $21.84 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.59 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $92.97 billion, a P/E ratio of 22.75 and a beta of 1.03. The stock’s 50 day moving average is $23.67 and its 200 day moving average is $30.90. Intel Co. has a twelve month low of $18.51 and a twelve month high of $51.28.

Intel (NASDAQ:INTC) last posted its quarterly earnings results 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). The company had revenue of $12.80 billion during the quarter, compared to analysts’ expectations of $12.92 billion. Intel had a return on equity of 1.78% and a net margin of 1.77%. The business’s quarterly revenue was down .8% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.05) EPS. On average, equities research analysts predict that Intel Co. will post -0.47 earnings per share for the current fiscal year.

Intel Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Investors 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 annualized dividend and a yield of 2.29%. Intel’s dividend payout ratio (DPR) is presently 52.08%.

Insider Activity at Intel

In other Intel news, CEO Patrick P. Gelsinger acquired 12,500 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were acquired at an average cost of $20.16 per share, with a total value of $252,000.00. Following the transaction, the chief executive officer now owns 37,975 shares of the company’s stock, valued at approximately $765,576. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.04% of the stock is currently owned by insiders.

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.