Frank Rimerman Advisors LLC Boosts Position in Intel Co. (NASDAQ:INTC)

Frank Rimerman Advisors LLC grew its holdings in Intel Co. (NASDAQ:INTC) by 1,761.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,075 shares of the chip maker’s stock after acquiring an additional 20,889 shares during the period. Frank Rimerman Advisors LLC’s holdings in Intel were worth $684,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Intel by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 389,098,435 shares of the chip maker’s stock worth $17,186,478,000 after purchasing an additional 3,310,528 shares during the period. Capital International Investors grew its position in Intel by 16.0% during the first quarter. Capital International Investors now owns 112,093,582 shares of the chip maker’s stock valued at $4,951,174,000 after buying an additional 15,475,631 shares during the period. Primecap Management Co. CA increased its holdings in Intel by 2.2% in the second quarter. Primecap Management Co. CA now owns 77,822,587 shares of the chip maker’s stock valued at $2,410,166,000 after buying an additional 1,697,550 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Intel by 6.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 39,841,750 shares of the chip maker’s stock worth $1,759,811,000 after acquiring an additional 2,457,243 shares during the period. Finally, Wellington Management Group LLP boosted its stake in shares of Intel by 7.3% during the 4th quarter. Wellington Management Group LLP now owns 37,080,015 shares of the chip maker’s stock worth $1,863,271,000 after acquiring an additional 2,515,978 shares in the last quarter. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Intel Stock Up 3.3 %

Shares of INTC opened at $22.56 on Tuesday. The company has a current ratio of 1.59, a quick ratio of 1.24 and a debt-to-equity ratio of 0.40. The firm has a market cap of $96.04 billion, a P/E ratio of 23.50 and a beta of 1.03. The company’s 50-day moving average price is $23.43 and its 200 day moving average price is $30.64. Intel Co. has a 12-month low of $18.51 and a 12-month high of $51.28.

Intel (NASDAQ:INTC) last issued its quarterly earnings data 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 return on equity of 1.78% and a net margin of 1.77%. The company had revenue of $12.80 billion during the quarter, compared to analyst estimates of $12.92 billion. During the same quarter in the prior year, the company posted ($0.05) earnings per share. The business’s revenue was down .8% compared to the same quarter last year. On average, sell-side analysts forecast that Intel Co. will post -0.47 earnings per share for the current year.

Intel Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 7th were issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date was Wednesday, August 7th. Intel’s dividend payout ratio (DPR) is 52.08%.

Insider Buying and Selling at Intel

In other Intel news, CEO Patrick P. Gelsinger purchased 12,500 shares of Intel stock in a transaction dated Monday, August 5th. The shares were acquired at an average price of $20.16 per share, with a total value of $252,000.00. Following the completion of the transaction, the chief executive officer now owns 37,975 shares of the company’s stock, valued at $765,576. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.04% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

INTC has been the subject of a number of analyst reports. Wedbush reduced their price target on Intel from $32.50 to $25.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. The Goldman Sachs Group dropped their price target on shares of Intel from $29.00 to $22.00 and set a “sell” rating on the stock in a research note on Friday, August 2nd. StockNews.com cut shares of Intel from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. Raymond James lowered shares of Intel from an “outperform” rating to a “market perform” rating in a research report on Friday, August 2nd. Finally, Mizuho downgraded shares of Intel from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $36.00 to $22.00 in a research report on Thursday, August 8th. Six equities research analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Intel has an average rating of “Hold” and a consensus price target of $32.04.

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.