Cacti Asset Management LLC Acquires 45,000 Shares of Intel Co. (NASDAQ:INTC)

Cacti Asset Management LLC lifted its position in shares of Intel Co. (NASDAQ:INTC) by 63.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 116,100 shares of the chip maker’s stock after buying an additional 45,000 shares during the quarter. Cacti Asset Management LLC’s holdings in Intel were worth $2,648,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. America First Investment Advisors LLC acquired a new stake in shares of Intel during the second quarter worth $25,000. Tributary Capital Management LLC acquired a new stake in Intel in the first quarter worth $27,000. Cyrus J. Lawrence LLC acquired a new stake in Intel in the second quarter worth $27,000. Spartan Fund Management Inc. acquired a new stake in Intel in the second quarter worth $31,000. Finally, Financial Connections Group Inc. acquired a new stake in Intel in the second quarter worth $32,000. 64.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Patrick P. Gelsinger bought 12,500 shares of the business’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 purchase, the chief executive officer now directly owns 37,975 shares in the company, valued at $765,576. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.04% of the stock is owned by company insiders.

Intel Stock Down 1.3 %

INTC opened at $22.39 on Thursday. The stock has a market cap of $95.31 billion, a price-to-earnings ratio of 23.32 and a beta of 1.03. Intel Co. has a twelve month low of $18.51 and a twelve month high of $51.28. 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’s 50-day moving average price is $21.99 and its two-hundred day moving average price is $29.72.

Intel (NASDAQ:INTC) last posted its quarterly earnings results 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 business had revenue of $12.80 billion during the quarter, compared to the consensus estimate of $12.92 billion. Intel had a net margin of 1.77% and a return on equity of 1.78%. The business’s revenue for the quarter was down .8% on a year-over-year basis. During the same period last year, the firm earned ($0.05) EPS. As a group, equities analysts expect that Intel Co. will post -0.47 earnings per share for the current year.

Intel Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th were issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date was Wednesday, August 7th. Intel’s payout ratio is currently 52.08%.

Analysts Set New Price Targets

INTC has been the subject of a number of research reports. Raymond James cut shares of Intel from an “outperform” rating to a “market perform” rating in a report on Friday, August 2nd. The Goldman Sachs Group reduced their price target on shares of Intel from $29.00 to $22.00 and set a “sell” rating for the company in a report on Friday, August 2nd. Truist Financial reduced 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. Argus lowered shares of Intel from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Finally, Rosenblatt Securities reaffirmed a “sell” rating and issued a $17.00 price objective on shares of Intel in a research note on Friday, August 2nd. Six investment analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $32.04.

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.