Brightwater Advisory LLC Takes $208,000 Position in Intel Co. (NASDAQ:INTC)

Brightwater Advisory LLC purchased a new position in shares of Intel Co. (NASDAQ:INTC) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 6,704 shares of the chip maker’s stock, valued at approximately $208,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of INTC. Price T Rowe Associates Inc. MD increased its holdings in Intel by 543.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 37,384,507 shares of the chip maker’s stock worth $1,878,572,000 after purchasing an additional 31,575,084 shares during the period. Capital International Investors increased its holdings 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 increased its holdings 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 period. Davis Selected Advisers increased its holdings in Intel by 86.2% during the 2nd quarter. Davis Selected Advisers now owns 12,642,316 shares of the chip maker’s stock worth $391,533,000 after purchasing an additional 5,851,098 shares during the period. Finally, Caxton Associates LP purchased a new position in Intel during the 2nd quarter worth $162,592,000. 64.53% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have commented on INTC shares. Mizuho downgraded Intel from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $36.00 to $22.00 in a report on Thursday, August 8th. Truist Financial reduced their price objective on Intel from $33.00 to $25.00 and set a “hold” rating on the stock in a report on Friday, August 2nd. Argus downgraded Intel from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Rosenblatt Securities restated a “sell” rating and set a $17.00 price objective on shares of Intel in a research note on Friday, August 2nd. Finally, Barclays cut their target price on Intel from $40.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Friday, August 2nd. Six 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 stock. According to data from MarketBeat.com, Intel has an average rating of “Hold” and a consensus target price of $32.04.

Insider Buying and Selling

In other news, CEO Patrick P. Gelsinger acquired 12,500 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was acquired at an average price of $20.16 per share, for a total transaction of $252,000.00. Following the completion of the transaction, the chief executive officer now owns 37,975 shares in the company, valued at approximately $765,576. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.04% of the stock is currently owned by insiders.

Intel Stock Down 3.3 %

INTC stock opened at $22.69 on Wednesday. The firm’s fifty day simple moving average is $22.18 and its 200-day simple moving average is $29.77. The company has a market capitalization of $96.59 billion, a P/E ratio of 23.64 and a beta of 1.03. 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 Co. has a 12 month low of $18.51 and a 12 month high of $51.28.

Intel (NASDAQ:INTC) last released 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). The business 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%. The firm’s revenue was down .8% on a year-over-year basis. During the same period last year, the company earned ($0.05) earnings per share. As a group, equities research analysts forecast that Intel Co. will post -0.47 earnings per share for the current year.

Intel Dividend Announcement

The company also recently declared 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 2.20%. The ex-dividend date was Wednesday, August 7th. Intel’s dividend payout ratio (DPR) is presently 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.