PSI Advisors LLC Sells 740 Shares of Intel Co. (NASDAQ:INTC)

PSI Advisors LLC trimmed its position in Intel Co. (NASDAQ:INTC) by 24.3% during the third quarter, Holdings Channel reports. The firm owned 2,309 shares of the chip maker’s stock after selling 740 shares during the quarter. PSI Advisors LLC’s holdings in Intel were worth $54,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. America First Investment Advisors LLC bought a new stake in Intel in the second quarter valued at approximately $25,000. Tributary Capital Management LLC bought a new stake in Intel in the 1st quarter valued at $27,000. Cyrus J. Lawrence LLC acquired a new stake in Intel during the 2nd quarter valued at $27,000. Spartan Fund Management Inc. bought a new position in Intel during the second quarter worth $31,000. Finally, Financial Connections Group Inc. acquired a new position in shares of Intel in the second quarter valued at $32,000. 64.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on INTC. New Street Research downgraded shares of Intel from a “buy” rating to a “neutral” rating in a report on Friday, August 2nd. Daiwa America raised Intel to a “hold” rating in a research report on Monday, August 26th. Benchmark reiterated a “hold” rating on shares of Intel in a research note on Monday, September 23rd. Roth Mkm reduced their price target on Intel from $35.00 to $25.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Finally, UBS Group lowered their price objective on Intel from $37.00 to $32.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. 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 stock. Based on data from MarketBeat.com, Intel presently has an average rating of “Hold” and a consensus price target of $31.92.

Intel Stock Performance

NASDAQ INTC opened at $22.34 on Friday. The firm’s fifty day moving average price is $21.55 and its two-hundred day moving average price is $27.67. The stock has a market cap of $95.10 billion, a PE ratio of 23.27 and a beta of 1.03. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.24 and a current ratio of 1.59. Intel Co. has a fifty-two week low of $18.51 and a fifty-two week 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 for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.08). The firm 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%. The company’s revenue was down .8% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.05) EPS. On average, equities analysts expect that Intel Co. will post -0.47 EPS for the current fiscal year.

Intel Dividend Announcement

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

Insiders Place Their Bets

In other Intel news, CEO Patrick P. Gelsinger purchased 12,500 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was purchased 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 of the company’s stock, valued at approximately $765,576. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.04% of the company’s stock.

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.