Los Angeles Capital Management LLC Trims Stock Position in Intel Co. (NASDAQ:INTC)

Los Angeles Capital Management LLC trimmed its stake in Intel Co. (NASDAQ:INTCFree Report) by 32.4% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 649,801 shares of the chip maker’s stock after selling 311,215 shares during the period. Los Angeles Capital Management LLC’s holdings in Intel were worth $28,702,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. New Millennium Group LLC raised its stake in shares of Intel by 87.2% in the 4th quarter. New Millennium Group LLC now owns 496 shares of the chip maker’s stock valued at $25,000 after acquiring an additional 231 shares during the period. Burkett Financial Services LLC purchased a new stake in shares of Intel in the 4th quarter valued at approximately $27,000. Frazier Financial Advisors LLC purchased a new stake in shares of Intel in the 4th quarter valued at approximately $27,000. Valued Wealth Advisors LLC purchased a new stake in Intel during the 4th quarter worth approximately $36,000. Finally, Signature Resources Capital Management LLC purchased a new stake in Intel during the 4th quarter worth approximately $37,000. 64.53% of the stock is owned by hedge funds and other institutional investors.

Intel Price Performance

Shares of NASDAQ INTC traded down $0.35 during midday trading on Wednesday, hitting $30.63. The company had a trading volume of 33,294,749 shares, compared to its average volume of 39,863,564. The company has a quick ratio of 1.14, a current ratio of 1.57 and a debt-to-equity ratio of 0.43. Intel Co. has a twelve month low of $29.73 and a twelve month high of $51.28. The business has a 50-day simple moving average of $31.93 and a two-hundred day simple moving average of $40.15. The firm has a market capitalization of $130.39 billion, a price-to-earnings ratio of 31.91, a price-to-earnings-growth ratio of 14.77 and a beta of 1.06.

Intel (NASDAQ:INTCGet Free Report) last announced its earnings results on Thursday, April 25th. The chip maker reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.03). The business had revenue of $12.72 billion for the quarter, compared to analyst estimates of $12.76 billion. Intel had a return on equity of 2.19% and a net margin of 7.36%. Equities research analysts anticipate that Intel Co. will post 0.09 earnings per share for the current year.

Intel Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Saturday, June 1st. Shareholders of record on Tuesday, May 7th were given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date of this dividend was Monday, May 6th. Intel’s payout ratio is currently 52.08%.

Insider Transactions at Intel

In other news, CEO Patrick P. Gelsinger bought 4,000 shares of Intel stock in a transaction dated Monday, April 29th. The shares were acquired at an average cost of $31.42 per share, with a total value of $125,680.00. Following the completion of the transaction, the chief executive officer now owns 35,275 shares in the company, valued at approximately $1,108,340.50. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO Patrick P. Gelsinger purchased 4,000 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The shares were purchased at an average cost of $31.42 per share, with a total value of $125,680.00. Following the completion of the acquisition, the chief executive officer now directly owns 35,275 shares of the company’s stock, valued at approximately $1,108,340.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Patrick P. Gelsinger purchased 4,100 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was bought at an average cost of $30.29 per share, for a total transaction of $124,189.00. Following the completion of the acquisition, the chief executive officer now directly owns 39,375 shares of the company’s stock, valued at $1,192,668.75. The disclosure for this purchase can be found here. Corporate insiders own 0.04% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on INTC shares. Roth Mkm cut their target price on shares of Intel from $45.00 to $35.00 and set a “neutral” rating on the stock in a research note on Friday, April 26th. The Goldman Sachs Group cut their target price on shares of Intel from $34.00 to $30.00 and set a “sell” rating on the stock in a research note on Thursday, May 9th. Mizuho dropped their price objective on shares of Intel from $55.00 to $45.00 and set a “buy” rating on the stock in a research report on Friday, April 26th. Cantor Fitzgerald reissued a “neutral” rating and issued a $50.00 price objective on shares of Intel in a research report on Wednesday, April 3rd. Finally, TD Cowen dropped their price objective on shares of Intel from $42.00 to $35.00 and set a “hold” rating on the stock in a research report on Friday, April 26th. Three research analysts have rated the stock with a sell rating, twenty-three have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $39.58.

Read Our Latest Research Report on INTC

Intel Profile

(Free Report)

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.

Featured Stories

Want to see what other hedge funds are holding INTC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Intel Co. (NASDAQ:INTCFree Report).

Institutional Ownership by Quarter for Intel (NASDAQ:INTC)

Receive News & Ratings for Intel Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intel and related companies with MarketBeat.com's FREE daily email newsletter.