Pacer Advisors Inc. Increases Stake in Intel Co. (NASDAQ:INTC)

Pacer Advisors Inc. grew its stake in shares of Intel Co. (NASDAQ:INTC) by 2.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 573,804 shares of the chip maker’s stock after acquiring an additional 14,844 shares during the period. Pacer Advisors Inc.’s holdings in Intel were worth $17,771,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. DDFG Inc purchased a new stake in shares of Intel in the fourth quarter worth about $205,000. Gryphon Financial Partners LLC lifted its stake in Intel by 8.2% in the 4th quarter. Gryphon Financial Partners LLC now owns 21,024 shares of the chip maker’s stock worth $1,060,000 after purchasing an additional 1,601 shares in the last quarter. Orion Portfolio Solutions LLC boosted its holdings in Intel by 3.1% in the 4th quarter. Orion Portfolio Solutions LLC now owns 98,320 shares of the chip maker’s stock valued at $4,764,000 after purchasing an additional 2,915 shares during the period. Congress Wealth Management LLC DE grew its position in shares of Intel by 15.8% during the 4th quarter. Congress Wealth Management LLC DE now owns 19,161 shares of the chip maker’s stock valued at $963,000 after purchasing an additional 2,616 shares in the last quarter. Finally, Johnson Financial Group Inc. increased its holdings in shares of Intel by 4.5% in the fourth quarter. Johnson Financial Group Inc. now owns 5,730 shares of the chip maker’s stock worth $288,000 after purchasing an additional 247 shares during the period. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Insider Buying and Selling

In related news, CEO Patrick P. Gelsinger acquired 12,500 shares of Intel stock in a transaction 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 in the company, valued at $765,576. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.04% of the stock is currently owned by insiders.

Intel Trading Up 3.3 %

Shares of INTC opened at $21.84 on Monday. The firm has a fifty day simple moving average of $23.67 and a two-hundred day simple moving average of $30.80. Intel Co. has a twelve month low of $18.51 and a twelve month high of $51.28. The stock has a market capitalization of $92.97 billion, a P/E ratio of 22.75 and a beta of 1.03. The company has a quick ratio of 1.24, a current ratio of 1.59 and a debt-to-equity ratio of 0.40.

Intel (NASDAQ:INTC) last posted its 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 return on equity of 1.78% and a net margin of 1.77%. The firm’s revenue for the quarter was down .8% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.05) earnings per share. On average, research analysts anticipate that Intel Co. will post -0.47 EPS for the current year.

Intel Announces Dividend

The firm 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. The ex-dividend date was Wednesday, August 7th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.29%. Intel’s dividend payout ratio is presently 52.08%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Hsbc Global Res lowered Intel from a “hold” rating to a “moderate sell” rating in a research note on Friday, August 2nd. Morgan Stanley cut their price objective on Intel from $36.00 to $25.00 and set an “equal weight” rating for the company in a report on Friday, August 2nd. Northland Securities lowered their target price on shares of Intel from $68.00 to $42.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Truist Financial dropped their target price on shares of Intel from $33.00 to $25.00 and set a “hold” rating for the company in a research report on Friday, August 2nd. Finally, Argus lowered shares of Intel from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Six analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, Intel currently has an average rating of “Hold” and a consensus price target of $32.04.

About Intel

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.