Foundation Resource Management Inc. Buys 196,029 Shares of Intel Co. (NASDAQ:INTC)

Foundation Resource Management Inc. raised its stake in Intel Co. (NASDAQ:INTCGet Rating) by 68.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 481,138 shares of the chip maker’s stock after buying an additional 196,029 shares during the period. Intel comprises about 3.2% of Foundation Resource Management Inc.’s investment portfolio, making the stock its 11th biggest position. Foundation Resource Management Inc.’s holdings in Intel were worth $17,999,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the stock. Lansing Street Advisors purchased a new stake in shares of Intel in the 1st quarter valued at $28,000. Lloyd Advisory Services LLC. boosted its position in Intel by 2,835.0% during the 1st quarter. Lloyd Advisory Services LLC. now owns 587 shares of the chip maker’s stock valued at $29,000 after buying an additional 567 shares during the period. Landmark Wealth Management LLC purchased a new stake in Intel during the 1st quarter valued at $31,000. Marshall & Sullivan Inc. WA purchased a new stake in Intel during the 2nd quarter valued at $37,000. Finally, Emerald Advisers LLC purchased a new stake in Intel during the 1st quarter valued at $38,000. Institutional investors own 61.52% of the company’s stock.

Insider Activity

In related news, CEO Patrick P. Gelsinger acquired 14,800 shares of Intel stock in a transaction dated Wednesday, August 24th. The shares were purchased at an average price of $33.86 per share, for a total transaction of $501,128.00. Following the completion of the transaction, the chief executive officer now directly owns 77,216 shares in the company, valued at approximately $2,614,533.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.02% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on INTC shares. Citigroup dropped their price target on shares of Intel from $50.00 to $45.00 and set a “neutral” rating for the company in a research report on Monday, June 6th. UBS Group dropped their price target on shares of Intel from $51.00 to $41.00 and set a “neutral” rating for the company in a research report on Friday, July 29th. Credit Suisse Group set a $45.00 target price on shares of Intel in a research report on Monday, August 1st. Susquehanna dropped their target price on shares of Intel from $42.00 to $40.00 in a research report on Tuesday, July 19th. Finally, Barclays dropped their target price on shares of Intel from $40.00 to $35.00 and set an “underweight” rating for the company in a research report on Friday, July 29th. Nine equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $42.96.

Intel Price Performance

NASDAQ:INTC traded down $0.61 during trading hours on Friday, hitting $27.46. 1,008,956 shares of the stock traded hands, compared to its average volume of 39,319,704. The company has a quick ratio of 1.41, a current ratio of 1.86 and a debt-to-equity ratio of 0.32. Intel Co. has a 1 year low of $28.04 and a 1 year high of $56.28. The company has a market cap of $112.75 billion, a price-to-earnings ratio of 6.01, a price-to-earnings-growth ratio of 1.68 and a beta of 0.65. The stock has a 50 day moving average price of $34.34 and a 200 day moving average price of $40.39.

Intel (NASDAQ:INTCGet Rating) last issued its quarterly earnings results on Thursday, July 28th. The chip maker reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.69 by ($0.40). Intel had a net margin of 26.03% and a return on equity of 16.65%. The firm had revenue of $15.30 billion for the quarter, compared to analysts’ expectations of $17.93 billion. During the same period in the prior year, the firm earned $1.28 EPS. Intel’s revenue for the quarter was down 17.3% compared to the same quarter last year. Sell-side analysts forecast that Intel Co. will post 2.25 EPS for the current fiscal year.

Intel Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Monday, November 7th will be given a dividend of $0.365 per share. This represents a $1.46 annualized dividend and a dividend yield of 5.32%. The ex-dividend date is Friday, November 4th. Intel’s payout ratio is currently 31.26%.

Intel Profile

(Get Rating)

Intel Corporation engages in the design, manufacture, and sale of computer products and technologies worldwide. The company operates through CCG, DCG, IOTG, Mobileye, NSG, PSG, and All Other segments. It offers platform products, such as central processing units and chipsets, and system-on-chip and multichip packages; and non-platform or adjacent products, including accelerators, boards and systems, connectivity products, graphics, and memory and storage products.

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Institutional Ownership by Quarter for Intel (NASDAQ:INTC)

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