Harbor Capital Advisors Inc. Cuts Stock Holdings in Intel Co. (NASDAQ:INTC)

Harbor Capital Advisors Inc. lowered its holdings in Intel Co. (NASDAQ:INTC) by 1.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 54,140 shares of the chip maker’s stock after selling 594 shares during the period. Harbor Capital Advisors Inc.’s holdings in Intel were worth $1,810,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Psagot Value Holdings Ltd. Israel grew its holdings in Intel by 43.7% during the 1st quarter. Psagot Value Holdings Ltd. Israel now owns 4,456 shares of the chip maker’s stock valued at $142,000 after purchasing an additional 1,356 shares in the last quarter. Avaii Wealth Management LLC acquired a new stake in Intel during the 1st quarter valued at $354,000. ProShare Advisors LLC grew its holdings in Intel by 11.3% during the 1st quarter. ProShare Advisors LLC now owns 4,754,164 shares of the chip maker’s stock valued at $155,319,000 after purchasing an additional 483,917 shares in the last quarter. Spire Wealth Management grew its holdings in Intel by 27.7% during the 1st quarter. Spire Wealth Management now owns 40,570 shares of the chip maker’s stock valued at $1,325,000 after purchasing an additional 8,790 shares in the last quarter. Finally, Nishkama Capital LLC acquired a new stake in Intel during the 1st quarter valued at $12,023,000. Institutional investors and hedge funds own 60.84% of the company’s stock.

Analysts Set New Price Targets

INTC has been the subject of a number of recent analyst reports. Truist Financial raised their price target on shares of Intel from $32.00 to $37.00 and gave the company a “hold” rating in a report on Friday, July 28th. Rosenblatt Securities reiterated a “sell” rating and set a $17.00 price objective on shares of Intel in a research note on Thursday, July 27th. Needham & Company LLC increased their price objective on shares of Intel from $36.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, July 28th. BMO Capital Markets increased their price objective on shares of Intel from $32.00 to $36.00 and gave the company a “market perform” rating in a research note on Friday, July 28th. Finally, TD Cowen increased their price objective on shares of Intel from $31.00 to $38.00 and gave the company a “market perform” rating in a research note on Friday, July 28th. Six research analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Intel presently has a consensus rating of “Hold” and an average target price of $33.55.

Intel Trading Down 0.6 %

Shares of NASDAQ:INTC opened at $37.65 on Monday. The company has a market cap of $157.68 billion, a PE ratio of -172.17 and a beta of 0.89. The company has a quick ratio of 1.15, a current ratio of 1.60 and a debt-to-equity ratio of 0.44. The company’s 50-day moving average price is $35.00 and its 200 day moving average price is $32.28. Intel Co. has a fifty-two week low of $24.59 and a fifty-two week high of $40.07.

Intel (NASDAQ:INTC) last released its earnings results on Thursday, July 27th. The chip maker reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.19) by $0.14. The firm had revenue of $12.95 billion for the quarter, compared to analysts’ expectations of $12.03 billion. Intel had a negative net margin of 1.71% and a positive return on equity of 1.70%. Sell-side analysts anticipate that Intel Co. will post -0.11 earnings per share for the current year.

Intel Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Monday, August 7th were paid a dividend of $0.125 per share. The ex-dividend date was Friday, August 4th. This represents a $0.50 annualized dividend and a yield of 1.33%. Intel’s payout ratio is -227.26%.

Insider Buying and Selling at Intel

In related news, CEO Patrick P. Gelsinger bought 3,250 shares of the stock in a transaction on Monday, July 31st. The shares were purchased at an average price of $35.87 per share, with a total value of $116,577.50. Following the purchase, the chief executive officer now owns 139,715 shares in the company, valued at $5,011,577.05. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Intel news, CEO Patrick P. Gelsinger acquired 3,250 shares of the stock in a transaction dated Monday, July 31st. The shares were bought at an average price of $35.87 per share, with a total value of $116,577.50. Following the purchase, the chief executive officer now directly owns 139,715 shares of the company’s stock, valued at approximately $5,011,577.05. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Patrick P. Gelsinger acquired 3,850 shares of the stock in a transaction dated Wednesday, August 2nd. The stock was acquired at an average cost of $34.63 per share, for a total transaction of $133,325.50. Following the purchase, the chief executive officer now directly owns 105,495 shares in the company, valued at $3,653,291.85. The disclosure for this purchase can be found here. 0.04% of the stock is owned by corporate insiders.

Intel Profile

Intel Corporation designs, develops, manufactures, markets, and sells computing and related products worldwide. It operates through Client Computing Group, Data Center and AI, Network and Edge, Mobileye, Accelerated Computing Systems and Graphics, Intel Foundry Services, and Other segments. The company offers platform products, such as central processing units and chipsets, and system-on-chip and multichip packages; and accelerators, boards and systems, connectivity products, and memory and storage products.