Cadinha & Co. LLC Cuts Stake in Intel Co. (NASDAQ:INTC)

Cadinha & Co. LLC decreased its holdings in Intel Co. (NASDAQ:INTC) by 21.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,400 shares of the chip maker’s stock after selling 3,339 shares during the quarter. Cadinha & Co. LLC’s holdings in Intel were worth $291,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD lifted its position in shares of 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 valued at $1,878,572,000 after buying an additional 31,575,084 shares in the last quarter. Capital International Investors raised its stake in Intel by 16.0% during the 1st quarter. Capital International Investors now owns 112,093,582 shares of the chip maker’s stock valued at $4,951,174,000 after purchasing an additional 15,475,631 shares during the period. Van ECK Associates Corp increased its stake in Intel by 60.5% in 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 acquiring an additional 13,035,566 shares during the last quarter. Davis Selected Advisers increased its stake in Intel by 86.2% in the 2nd quarter. Davis Selected Advisers now owns 12,642,316 shares of the chip maker’s stock worth $391,533,000 after acquiring an additional 5,851,098 shares during the last quarter. Finally, Caxton Associates LP bought a new stake in Intel in the 2nd quarter worth approximately $162,592,000. Institutional investors own 64.53% of the company’s stock.

Intel Stock Down 0.2 %

NASDAQ:INTC traded down $0.04 during mid-day trading on Thursday, hitting $23.42. 11,411,766 shares of the company’s stock traded hands, compared to its average volume of 58,950,672. The company has a fifty day moving average of $21.19 and a 200 day moving average of $29.04. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.24 and a current ratio of 1.59. Intel Co. has a twelve month low of $18.51 and a twelve month high of $51.28. The company has a market capitalization of $99.70 billion, a P/E ratio of 24.44 and a beta of 1.03.

Intel (NASDAQ:INTC) last released its quarterly earnings results on Thursday, August 1st. The chip maker reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.08). Intel had a net margin of 1.77% and a return on equity of 1.78%. The business had revenue of $12.80 billion during the quarter, compared to analysts’ expectations of $12.92 billion. During the same quarter last year, the business posted ($0.05) earnings per share. The company’s quarterly revenue was down .8% compared to the same quarter last year. On average, analysts forecast that Intel Co. will post -0.47 EPS for the current year.

Intel Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th were paid a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 2.13%. The ex-dividend date was Wednesday, August 7th. Intel’s payout ratio is 52.08%.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Bank of America downgraded Intel from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $35.00 to $23.00 in a research note on Friday, August 2nd. Wedbush cut their target price on Intel from $32.50 to $25.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. 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 report on Friday, August 2nd. Cantor Fitzgerald cut their target price on Intel from $40.00 to $27.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Finally, StockNews.com downgraded Intel from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. Six equities research analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $31.96.

Insider Transactions at Intel

In related news, CEO Patrick P. Gelsinger purchased 12,500 shares of Intel stock in a transaction that occurred on Monday, August 5th. The stock was bought at an average cost 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 $765,576. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 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.