Intel Co. (NASDAQ:INTC) Shares Acquired by Legend Financial Advisors Inc.

Legend Financial Advisors Inc. boosted its position in Intel Co. (NASDAQ:INTC) by 90.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 32,727 shares of the chip maker’s stock after purchasing an additional 15,568 shares during the quarter. Intel comprises about 0.7% of Legend Financial Advisors Inc.’s holdings, making the stock its 20th largest position. Legend Financial Advisors Inc.’s holdings in Intel were worth $1,014,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Frazier Financial Advisors LLC purchased a new stake in Intel in the 4th quarter valued at about $27,000. Burkett Financial Services LLC purchased a new stake in Intel in the 4th quarter valued at about $27,000. Tributary Capital Management LLC purchased a new stake in Intel in the 1st quarter valued at about $27,000. Financial Connections Group Inc. purchased a new stake in Intel in the 2nd quarter valued at about $32,000. Finally, Triad Wealth Partners LLC purchased a new stake in Intel in the 2nd quarter valued at about $33,000. Institutional investors and hedge funds own 64.53% of the company’s stock.

Insider Buying and Selling

In related news, CEO Patrick P. Gelsinger purchased 12,500 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were purchased at an average price of $20.16 per share, with a total value 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.04% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on INTC. StockNews.com cut Intel from a “hold” rating to a “sell” rating in a report on Friday, August 9th. Northland Securities dropped their target price on shares of Intel from $68.00 to $42.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Benchmark downgraded shares of Intel from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. Hsbc Global Res downgraded shares of Intel from a “hold” rating to a “moderate sell” rating in a research report on Friday, August 2nd. Finally, HSBC downgraded shares of Intel from a “hold” rating to a “reduce” rating in a research report on Friday, August 2nd. Six equities research analysts have rated the stock with a sell rating, twenty-three have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $32.04.

Intel Price Performance

NASDAQ:INTC traded down $0.46 during mid-day trading on Wednesday, reaching $19.61. 49,937,566 shares of the stock were exchanged, compared to its average volume of 52,808,902. The business has a fifty day moving average price of $27.63 and a 200 day moving average price of $33.66. The firm has a market capitalization of $83.48 billion, a PE ratio of 20.43, a PEG ratio of 17.38 and a beta of 1.05. Intel Co. has a 1-year low of $18.84 and a 1-year high of $51.28. The company has a current ratio of 1.57, a quick ratio of 1.14 and a debt-to-equity ratio of 0.43.

Intel (NASDAQ:INTC) last released its earnings results 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 firm had revenue of $12.80 billion for the quarter, compared to analyst estimates of $12.92 billion. Intel had a return on equity of 1.82% and a net margin of 1.77%. Intel’s revenue was down .8% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.05) earnings per share. Research analysts expect that Intel Co. will post 0.07 earnings per share for the current fiscal year.

Intel Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Sunday, September 1st. Investors of record on Wednesday, August 7th will be issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date is Wednesday, August 7th. Intel’s payout ratio is currently 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.