Swedbank AB Boosts Holdings in Intel Co. (NASDAQ:INTC)

Swedbank AB raised its holdings in Intel Co. (NASDAQ:INTC) by 0.3% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 1,666,889 shares of the chip maker’s stock after acquiring an additional 4,300 shares during the period. Swedbank AB’s holdings in Intel were worth $39,105,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. NBC Securities Inc. grew its holdings in shares of Intel by 2.6% during the 1st quarter. NBC Securities Inc. now owns 16,681 shares of the chip maker’s stock worth $736,000 after purchasing an additional 418 shares during the period. First Hawaiian Bank grew its holdings in shares of Intel by 6.2% during the 1st quarter. First Hawaiian Bank now owns 43,890 shares of the chip maker’s stock worth $1,939,000 after purchasing an additional 2,549 shares during the period. Massmutual Trust Co. FSB ADV lifted its position in Intel by 12.4% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 12,753 shares of the chip maker’s stock worth $563,000 after acquiring an additional 1,408 shares in the last quarter. Foster Group Inc. acquired a new position in Intel during the 1st quarter worth approximately $319,000. Finally, Perpetual Ltd lifted its position in Intel by 157.7% during the 1st quarter. Perpetual Ltd now owns 53,089 shares of the chip maker’s stock worth $2,345,000 after acquiring an additional 32,490 shares in the last quarter. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Insider Buying and Selling

In other Intel news, CEO Patrick P. Gelsinger purchased 12,500 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was bought at an average price of $20.16 per share, with a total value of $252,000.00. Following the completion of the purchase, the chief executive officer now owns 37,975 shares in the company, valued at $765,576. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.04% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on INTC shares. Morgan Stanley reduced their price target on Intel from $36.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Friday, August 2nd. Roth Mkm reduced their price target on Intel from $35.00 to $25.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Daiwa America raised Intel to a “hold” rating in a research report on Monday, August 26th. Benchmark reissued a “hold” rating on shares of Intel in a research report on Monday, September 23rd. Finally, TD Cowen raised Intel to a “hold” rating in a research report on Monday, September 16th. Six research analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $31.96.

Intel Price Performance

Shares of INTC opened at $22.31 on Thursday. The company has a market cap of $94.97 billion, a P/E ratio of 23.24 and a beta of 1.03. The stock has a fifty day moving average price of $21.30 and a 200 day moving average price of $28.33. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.59 and a quick ratio of 1.24. Intel Co. has a 12 month low of $18.51 and a 12 month high of $51.28.

Intel (NASDAQ:INTC) last issued its quarterly earnings data on Thursday, August 1st. The chip maker reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.08). The company had revenue of $12.80 billion for the quarter, compared to the consensus estimate of $12.92 billion. Intel had a return on equity of 1.78% and a net margin of 1.77%. Intel’s quarterly revenue was down .8% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.05) earnings per share. On average, research analysts forecast that Intel Co. will post -0.47 earnings per share for the current year.

Intel Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 7th were paid a dividend of $0.125 per share. The ex-dividend date was Wednesday, August 7th. This represents a $0.50 dividend on an annualized basis and a yield of 2.24%. Intel’s payout ratio is currently 52.08%.

About Intel

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.