Sicart Associates LLC Cuts Holdings in Intel Co. (NASDAQ:INTC)

Sicart Associates LLC cut its position in shares of Intel Co. (NASDAQ:INTC) by 3.1% during the 3rd quarter, Holdings Channel reports. The firm owned 172,544 shares of the chip maker’s stock after selling 5,559 shares during the quarter. Intel makes up approximately 1.4% of Sicart Associates LLC’s holdings, making the stock its 29th largest holding. Sicart Associates LLC’s holdings in Intel were worth $4,048,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in INTC. America First Investment Advisors LLC purchased a new position in Intel in the second quarter valued at about $25,000. Tributary Capital Management LLC bought a new stake in shares of Intel in the first quarter valued at approximately $27,000. Cyrus J. Lawrence LLC bought a new stake in shares of Intel in the second quarter valued at approximately $27,000. Spartan Fund Management Inc. bought a new stake in shares of Intel in the second quarter valued at approximately $31,000. Finally, Financial Connections Group Inc. bought a new stake in shares of Intel in the second quarter valued at approximately $32,000. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

Intel Trading Down 0.5 %

Shares of Intel stock traded down $0.12 during trading on Tuesday, reaching $22.80. The company’s stock had a trading volume of 40,651,192 shares, compared to its average volume of 58,401,594. Intel Co. has a 52-week low of $18.51 and a 52-week high of $51.28. The company has a market cap of $97.06 billion, a price-to-earnings ratio of 23.95 and a beta of 1.03. The firm’s 50-day moving average is $21.65 and its two-hundred day moving average is $27.28. The company has a quick ratio of 1.24, a current ratio of 1.59 and a debt-to-equity ratio of 0.40.

Intel (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, August 1st. The chip maker reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.08). The firm had revenue of $12.80 billion for 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 company’s quarterly revenue was down .8% on a year-over-year basis. During the same period in the previous year, the company earned ($0.05) EPS. On average, sell-side analysts anticipate that Intel Co. will post -0.47 earnings per share for the current year.

Intel Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th were given a $0.125 dividend. The ex-dividend date was Wednesday, August 7th. This represents a $0.50 annualized dividend and a dividend yield of 2.19%. Intel’s dividend payout ratio is 52.08%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on INTC shares. Hsbc Global Res lowered shares of Intel from a “hold” rating to a “moderate sell” rating in a research report on Friday, August 2nd. Bank of America lowered shares of Intel from a “neutral” rating to an “underperform” rating and decreased their target price for the stock from $35.00 to $23.00 in a report on Friday, August 2nd. UBS Group decreased their target price on shares of Intel from $37.00 to $32.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Northland Securities decreased their target price on shares of Intel from $68.00 to $42.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Finally, TD Cowen raised shares of Intel to a “hold” rating in a report on Monday, September 16th. Six analysts have rated the stock with a sell rating, twenty-four have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $30.80.

Insider Transactions at Intel

In related news, CEO Patrick P. Gelsinger bought 12,500 shares of the company’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 owns 37,975 shares in the company, valued at approximately $765,576. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.04% of the company’s stock.

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.