Melone Private Wealth LLC Purchases Shares of 10,311 Intel Co. (NASDAQ:INTC)

Melone Private Wealth LLC acquired a new position in shares of Intel Co. (NASDAQ:INTC) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,311 shares of the chip maker’s stock, valued at approximately $242,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. America First Investment Advisors LLC acquired a new stake in shares of Intel in the second quarter valued at approximately $25,000. Tributary Capital Management LLC acquired a new stake in Intel in the 1st quarter valued at $27,000. Cyrus J. Lawrence LLC bought a new stake in Intel during the 2nd quarter worth about $27,000. Spartan Fund Management Inc. acquired a new position in shares of Intel during the 2nd quarter worth about $31,000. Finally, Financial Connections Group Inc. bought a new position in shares of Intel in the 2nd quarter valued at about $32,000. 64.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Argus cut Intel from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. TD Cowen raised Intel to a “hold” rating in a report on Monday, September 16th. UBS Group lowered their target price on shares of Intel from $37.00 to $32.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. New Street Research cut shares of Intel from a “buy” rating to a “neutral” rating in a research note on Friday, August 2nd. Finally, HSBC lowered shares of Intel from a “hold” rating to a “reduce” rating in a research note on Friday, August 2nd. Six analysts have rated the stock with a sell rating, twenty-four have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $31.96.

Intel Price Performance

Intel stock traded down $0.04 during midday trading on Monday, reaching $22.55. The company’s stock had a trading volume of 8,876,688 shares, compared to its average volume of 59,047,211. 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 stock has a market cap of $96.00 billion, a PE ratio of 23.53 and a beta of 1.03. Intel Co. has a 52 week low of $18.51 and a 52 week high of $51.28. The business has a 50-day moving average price of $21.64 and a 200-day moving average price of $29.35.

Intel (NASDAQ:INTC) last announced 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). Intel had a net margin of 1.77% and a return on equity of 1.78%. The company had revenue of $12.80 billion for the quarter, compared to the consensus estimate of $12.92 billion. During the same period last year, the firm posted ($0.05) earnings per share. The company’s revenue for the quarter was down .8% compared to the same quarter last year. On average, sell-side analysts predict that Intel Co. will post -0.47 EPS for the current year.

Intel Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Stockholders 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 2.22%. The ex-dividend date was Wednesday, August 7th. Intel’s payout ratio is 52.08%.

Insider Transactions at Intel

In other Intel news, CEO Patrick P. Gelsinger acquired 12,500 shares of the company’s stock in a transaction that occurred 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 acquisition, the chief executive officer now directly owns 37,975 shares in the company, valued at $765,576. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.04% of the company’s stock.

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.