Ignite Planners LLC Trims Stake in Intel Co. (NASDAQ:INTC)

Ignite Planners LLC cut its holdings in shares of Intel Co. (NASDAQ:INTC) by 7.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 16,271 shares of the chip maker’s stock after selling 1,259 shares during the quarter. Ignite Planners LLC’s holdings in Intel were worth $518,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Moneta Group Investment Advisors LLC boosted its position in Intel by 100,953.1% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 51,133,863 shares of the chip maker’s stock valued at $1,351,468,000 after buying an additional 51,083,262 shares during the period. Norges Bank purchased a new position in Intel in the fourth quarter valued at $1,092,939,000. Clearbridge Investments LLC grew its stake in Intel by 4,407.3% during the 1st quarter. Clearbridge Investments LLC now owns 16,439,207 shares of the chip maker’s stock worth $814,727,000 after purchasing an additional 16,074,485 shares in the last quarter. Morgan Stanley increased its holdings in Intel by 29.8% during the 4th quarter. Morgan Stanley now owns 53,342,230 shares of the chip maker’s stock worth $1,409,835,000 after purchasing an additional 12,241,200 shares during the period. Finally, FIL Ltd raised its position in Intel by 116.1% in the 1st quarter. FIL Ltd now owns 17,892,208 shares of the chip maker’s stock valued at $584,538,000 after purchasing an additional 9,614,072 shares in the last quarter. 60.84% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

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

Analyst Ratings Changes

A number of analysts recently weighed in on INTC shares. StockNews.com assumed coverage on shares of Intel in a research note on Thursday, August 17th. They set a “hold” rating on the stock. Jefferies Financial Group raised their price objective on shares of Intel from $32.00 to $35.00 in a report on Thursday, June 22nd. TD Cowen boosted their target price on shares of Intel from $31.00 to $38.00 and gave the stock a “market perform” rating in a research note on Friday, July 28th. Stifel Nicolaus lifted their price target on Intel from $28.00 to $32.00 and gave the stock a “hold” rating in a report on Friday, July 28th. Finally, Susquehanna increased their price objective on Intel from $35.00 to $37.00 and gave the company a “neutral” rating in a report on Friday, July 28th. Six 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’s stock. Based on data from MarketBeat.com, Intel currently has an average rating of “Hold” and a consensus price target of $33.55.

Intel Trading Up 0.8 %

Shares of INTC traded up $0.31 during mid-day trading on Monday, hitting $38.19. The company’s stock had a trading volume of 12,477,085 shares, compared to its average volume of 43,048,820. The company has a quick ratio of 1.15, a current ratio of 1.60 and a debt-to-equity ratio of 0.44. Intel Co. has a 1-year low of $24.59 and a 1-year high of $40.07. The firm has a 50-day simple moving average of $35.00 and a 200 day simple moving average of $32.28.

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

Intel Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Monday, August 7th were paid a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 1.31%. The ex-dividend date was Friday, August 4th. Intel’s payout ratio is currently -227.26%.

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.