Korea Investment CORP grew its position in shares of Intel Co. (NASDAQ:INTC – Free Report) by 235.0% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,757,762 shares of the chip maker’s stock after purchasing an additional 1,934,455 shares during the quarter. Korea Investment CORP owned about 0.07% of Intel worth $92,220,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Deuterium Capital Management LLC acquired a new position in shares of Intel during the 2nd quarter valued at $237,000. Osaic Holdings Inc. boosted its position in shares of Intel by 9.8% during the 2nd quarter. Osaic Holdings Inc. now owns 1,962,233 shares of the chip maker’s stock worth $59,250,000 after purchasing an additional 175,565 shares in the last quarter. Altrius Capital Management Inc grew its stake in shares of Intel by 0.3% in the 2nd quarter. Altrius Capital Management Inc now owns 120,621 shares of the chip maker’s stock valued at $4,034,000 after buying an additional 304 shares during the period. Davis R M Inc. increased its position in Intel by 1.0% in the 2nd quarter. Davis R M Inc. now owns 29,965 shares of the chip maker’s stock valued at $1,002,000 after buying an additional 293 shares in the last quarter. Finally, Profund Advisors LLC raised its stake in Intel by 15.0% during the 2nd quarter. Profund Advisors LLC now owns 438,984 shares of the chip maker’s stock worth $14,680,000 after buying an additional 57,310 shares during the period. Institutional investors own 60.84% of the company’s stock.
Insider Buying and Selling
In other Intel news, CEO Patrick P. Gelsinger bought 6,775 shares of the business’s stock in a transaction that occurred on Wednesday, November 1st. The stock was purchased at an average cost of $36.80 per share, with a total value of $249,320.00. Following the completion of the acquisition, the chief executive officer now owns 25,475 shares in the company, valued at approximately $937,480. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.04% of the stock is currently owned by company insiders.
Intel Stock Down 2.4 %
Intel (NASDAQ:INTC – Get Free Report) last announced 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. Intel had a negative net margin of 3.11% and a positive return on equity of 0.49%. The business had revenue of $14.20 billion during the quarter, compared to analyst estimates of $13.57 billion. During the same period in the previous year, the business earned $0.59 EPS. The company’s quarterly revenue was down 7.2% compared to the same quarter last year. On average, analysts expect that Intel Co. will post 0.19 EPS for the current fiscal year.
Intel Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Tuesday, November 7th will be issued a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 1.15%. The ex-dividend date of this dividend is Monday, November 6th. Intel’s dividend payout ratio is currently -125.00%.
Analyst Upgrades and Downgrades
Several equities research analysts have recently commented on INTC shares. Tigress Financial decreased their price objective on Intel from $72.00 to $46.00 and set a “buy” rating for the company in a report on Friday, August 4th. Barclays upped their price objective on shares of Intel from $30.00 to $32.00 and gave the stock an “equal weight” rating in a report on Friday, July 28th. Mizuho upgraded shares of Intel from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $37.00 to $50.00 in a report on Thursday, November 16th. Robert W. Baird boosted their price objective on Intel from $32.00 to $40.00 and gave the stock a “neutral” rating in a report on Friday, July 28th. Finally, Susquehanna increased their price objective on Intel from $37.00 to $38.00 and gave the stock a “neutral” rating in a research note on Thursday, October 19th. Four analysts have rated the stock with a sell rating, twenty-one have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Intel has an average rating of “Hold” and an average price target of $35.53.
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.
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