Lake Street Advisors Group LLC Buys 7,265 Shares of Intel Co. (NASDAQ:INTC)

Lake Street Advisors Group LLC raised its stake in shares of Intel Co. (NASDAQ:INTC) by 30.6% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 31,020 shares of the chip maker’s stock after acquiring an additional 7,265 shares during the period. Lake Street Advisors Group LLC’s holdings in Intel were worth $1,037,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Robinson Value Management Ltd. lifted its stake in shares of Intel by 2.5% in the 2nd quarter. Robinson Value Management Ltd. now owns 81,294 shares of the chip maker’s stock worth $2,718,000 after purchasing an additional 1,973 shares during the period. Legacy Capital Group California Inc. lifted its stake in shares of Intel by 2.9% in the 2nd quarter. Legacy Capital Group California Inc. now owns 14,287 shares of the chip maker’s stock worth $478,000 after purchasing an additional 405 shares during the period. Bedel Financial Consulting Inc. lifted its stake in shares of Intel by 2.5% in the 2nd quarter. Bedel Financial Consulting Inc. now owns 33,212 shares of the chip maker’s stock worth $1,111,000 after purchasing an additional 795 shares during the period. CORDA Investment Management LLC. lifted its stake in shares of Intel by 0.8% in the 2nd quarter. CORDA Investment Management LLC. now owns 641,469 shares of the chip maker’s stock worth $21,451,000 after purchasing an additional 5,028 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Intel by 13.2% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,451,337 shares of the chip maker’s stock worth $249,115,000 after purchasing an additional 868,761 shares during the period. Institutional investors own 60.84% of the company’s stock.

Insider Buying and Selling

In related news, CEO Patrick P. Gelsinger purchased 6,775 shares of the stock in a transaction that occurred on Wednesday, November 1st. The stock was bought at an average cost of $36.80 per share, for a total transaction of $249,320.00. Following the completion of the transaction, the chief executive officer now directly owns 25,475 shares in the company, valued at $937,480. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.04% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on INTC. HSBC upgraded shares of Intel from a “reduce” rating to a “hold” rating and increased their price objective for the stock from $27.00 to $33.00 in a research note on Friday, October 27th. Tigress Financial lowered their price objective on shares of Intel from $72.00 to $46.00 and set a “buy” rating on the stock in a research note on Friday, August 4th. JPMorgan Chase & Co. increased their target price on shares of Intel from $30.00 to $35.00 and gave the stock an “underweight” rating in a report on Friday, July 28th. Evercore ISI increased their target price on shares of Intel from $36.00 to $40.00 and gave the stock an “in-line” rating in a report on Friday, July 28th. Finally, Susquehanna increased their target price on shares of Intel from $37.00 to $38.00 and gave the stock a “neutral” rating in a report on Thursday, October 19th. Four investment analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Intel currently has a consensus rating of “Hold” and an average target price of $35.53.

Intel Price Performance

Shares of INTC stock traded up $0.46 on Friday, reaching $43.81. The company’s stock had a trading volume of 49,749,721 shares, compared to its average volume of 42,165,434. The stock’s fifty day simple moving average is $36.71 and its 200-day simple moving average is $34.31. Intel Co. has a 1 year low of $24.73 and a 1 year high of $43.81. The company has a current ratio of 1.53, a quick ratio of 1.13 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $184.70 billion, a price-to-earnings ratio of -109.53, a price-to-earnings-growth ratio of 15.13 and a beta of 0.88.

Intel (NASDAQ:INTC) last posted its earnings results on Thursday, October 26th. The chip maker reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.20. The firm had revenue of $14.20 billion during the quarter, compared to analyst estimates of $13.57 billion. Intel had a negative net margin of 3.11% and a positive return on equity of 0.49%. Intel’s revenue for the quarter was down 7.2% compared to the same quarter last year. During the same period last year, the firm posted $0.59 earnings per share. Analysts forecast that Intel Co. will post 0.19 earnings per share for the current fiscal year.

Intel Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Tuesday, November 7th will be given a $0.125 dividend. The ex-dividend date is Monday, November 6th. This represents a $0.50 dividend on an annualized basis and a yield of 1.14%. Intel’s dividend payout ratio is presently -125.00%.

Intel Company 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.