International Assets Investment Management LLC Purchases 2,842,584 Shares of Intel Co. (NASDAQ:INTC)

International Assets Investment Management LLC boosted its position in Intel Co. (NASDAQ:INTC) by 3,505.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,923,684 shares of the chip maker’s stock after acquiring an additional 2,842,584 shares during the quarter. International Assets Investment Management LLC owned 0.07% of Intel worth $68,590,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in INTC. Tributary Capital Management LLC acquired a new position in Intel during the 1st quarter worth approximately $27,000. Dixon Mitchell Investment Counsel Inc. bought a new stake in shares of Intel during the first quarter worth $36,000. America First Investment Advisors LLC acquired a new position in shares of Intel during the second quarter worth $25,000. Cyrus J. Lawrence LLC bought a new position in shares of Intel in the 2nd quarter valued at $27,000. Finally, Spartan Fund Management Inc. acquired a new stake in shares of Intel during the 2nd quarter valued at $31,000. 64.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

INTC has been the topic of several research reports. Roth Mkm reduced their price target on Intel from $35.00 to $25.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. TD Cowen upgraded shares of Intel to a “hold” rating in a research report on Monday, September 16th. Northland Securities dropped their price target on shares of Intel from $68.00 to $42.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Stifel Nicolaus reissued a “hold” rating and issued a $25.00 price objective (down previously from $28.00) on shares of Intel in a research note on Friday. Finally, StockNews.com lowered Intel from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. Six research analysts have rated the stock with a sell rating, twenty-four have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Intel has an average rating of “Hold” and an average price target of $31.15.

Insider Activity at Intel

In other Intel news, CEO Patrick P. Gelsinger bought 12,500 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was purchased at an average cost of $20.16 per share, with a total value of $252,000.00. Following the transaction, the chief executive officer now directly 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.04% of the stock is currently owned by company insiders.

Intel Stock Performance

NASDAQ INTC opened at $22.68 on Friday. The company has a market cap of $96.98 billion, a P/E ratio of 98.61 and a beta of 1.03. The company has a fifty day simple moving average of $21.62 and a 200 day simple moving average of $27.53. The company has a current ratio of 1.59, a quick ratio of 1.24 and a debt-to-equity ratio of 0.40. 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 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.08). The business had revenue of $12.80 billion for the quarter, compared to analyst estimates of $12.92 billion. Intel had a net margin of 1.77% and a return on equity of 1.78%. The firm’s quarterly revenue was down .8% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.05) earnings per share. Sell-side analysts predict that Intel Co. will post -0.47 earnings per share for the current fiscal year.

Intel Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th were issued a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 2.20%. The ex-dividend date was Wednesday, August 7th. Intel’s dividend payout ratio is presently 217.40%.

Intel Company Profile

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.