Howard Financial Services LTD. Increases Position in Intel Co. (NASDAQ:INTC)

Howard Financial Services LTD. raised its position in shares of Intel Co. (NASDAQ:INTC) by 186.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 24,994 shares of the chip maker’s stock after purchasing an additional 16,276 shares during the period. Howard Financial Services LTD.’s holdings in Intel were worth $586,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. America First Investment Advisors LLC purchased a new stake in Intel in the second quarter worth approximately $25,000. Tributary Capital Management LLC bought a new stake in Intel in the first quarter worth $27,000. Cyrus J. Lawrence LLC bought a new position in shares of Intel during the second quarter valued at about $27,000. Spartan Fund Management Inc. purchased a new position in shares of Intel in the second quarter worth about $31,000. Finally, Financial Connections Group Inc. bought a new stake in shares of Intel in the 2nd quarter valued at about $32,000. Institutional investors own 64.53% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Bank of America lowered Intel from a “neutral” rating to an “underperform” rating and reduced their price target for the stock from $35.00 to $23.00 in a research report on Friday, August 2nd. HSBC lowered shares of Intel from a “hold” rating to a “reduce” rating in a report on Friday, August 2nd. Cantor Fitzgerald cut their price target on shares of Intel from $40.00 to $27.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. New Street Research downgraded shares of Intel from a “buy” rating to a “neutral” rating in a research note on Friday, August 2nd. Finally, Northland Securities cut their target price on Intel from $68.00 to $42.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Six investment 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. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $31.96.

Intel Stock Down 0.3 %

INTC stock opened at $23.26 on Wednesday. The business has a 50 day moving average of $21.34 and a 200 day moving average of $29.08. The firm has a market cap of $99.02 billion, a PE ratio of 24.29 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.

Intel (NASDAQ:INTC) last issued its quarterly earnings results on Thursday, August 1st. The chip maker reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.08). The company had revenue of $12.80 billion for 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%. Intel’s revenue was down .8% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.05) earnings per share. On average, research analysts forecast that Intel Co. will post -0.47 EPS for the current fiscal year.

Intel Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 7th were issued a $0.125 dividend. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $0.50 dividend on an annualized basis and a yield of 2.15%. Intel’s payout ratio is currently 52.08%.

Insider Activity at Intel

In other Intel news, CEO Patrick P. Gelsinger bought 12,500 shares of Intel stock in a transaction on Monday, August 5th. The stock was acquired at an average price of $20.16 per share, with a total value of $252,000.00. Following the acquisition, the chief executive officer now owns 37,975 shares in the company, valued at approximately $765,576. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.04% of the stock is currently owned by insiders.

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.