Doheny Asset Management CA Increases Stock Holdings in Intel Co. (NASDAQ:INTC)

Doheny Asset Management CA increased its holdings in shares of Intel Co. (NASDAQ:INTC) by 399.0% during the second quarter, HoldingsChannel reports. The institutional investor owned 25,150 shares of the chip maker’s stock after acquiring an additional 20,110 shares during the period. Doheny Asset Management CA’s holdings in Intel were worth $779,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in INTC. Davis Selected Advisers lifted its holdings in Intel by 86.2% in the 2nd quarter. Davis Selected Advisers now owns 12,642,316 shares of the chip maker’s stock valued at $391,533,000 after purchasing an additional 5,851,098 shares in the last quarter. Liberty Wealth Management LLC lifted its holdings in Intel by 116.4% in the 2nd quarter. Liberty Wealth Management LLC now owns 26,701 shares of the chip maker’s stock valued at $827,000 after purchasing an additional 14,365 shares in the last quarter. Choreo LLC lifted its holdings in Intel by 47.9% in the 2nd quarter. Choreo LLC now owns 158,639 shares of the chip maker’s stock valued at $4,893,000 after purchasing an additional 51,378 shares in the last quarter. Wedbush Securities Inc. lifted its holdings in Intel by 6.1% in the 2nd quarter. Wedbush Securities Inc. now owns 157,017 shares of the chip maker’s stock valued at $4,863,000 after purchasing an additional 9,048 shares in the last quarter. Finally, Prudential PLC lifted its holdings in Intel by 17.3% in the 2nd quarter. Prudential PLC now owns 493,225 shares of the chip maker’s stock valued at $15,275,000 after purchasing an additional 72,761 shares in the last quarter. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on INTC. Morgan Stanley decreased their price objective on Intel from $36.00 to $25.00 and set an “equal weight” rating on the stock in a report on Friday, August 2nd. Hsbc Global Res lowered Intel from a “hold” rating to a “moderate sell” rating in a report on Friday, August 2nd. HSBC lowered Intel from a “hold” rating to a “reduce” rating in a report on Friday, August 2nd. Wolfe Research upgraded Intel from an “underperform” rating to a “peer perform” rating in a report on Thursday, May 16th. Finally, Raymond James lowered Intel from an “outperform” rating to a “market perform” rating in a report on Friday, August 2nd. 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 company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $32.04.

Insider Activity

In related news, CEO Patrick P. Gelsinger acquired 12,500 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was acquired at an average price of $20.16 per share, for a total transaction of $252,000.00. Following the purchase, the chief executive officer now owns 37,975 shares of the company’s stock, valued at approximately $765,576. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.04% of the company’s stock.

Intel Stock Performance

NASDAQ INTC opened at $19.07 on Tuesday. The company has a market cap of $81.54 billion, a P/E ratio of 19.86 and a beta of 1.03. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.59 and a quick ratio of 1.24. The stock has a 50-day moving average of $25.93 and a two-hundred day moving average of $32.26. Intel Co. has a 1-year low of $18.64 and a 1-year high of $51.28.

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

Intel Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th were paid a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 2.62%. The ex-dividend date of this dividend was Wednesday, August 7th. Intel’s payout ratio is presently 52.08%.

Intel 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.