Lake Street Financial LLC increased its holdings in Intel Co. (NASDAQ:INTC – Get Rating) by 14.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 28,419 shares of the chip maker’s stock after purchasing an additional 3,480 shares during the quarter. Lake Street Financial LLC’s holdings in Intel were worth $1,408,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors also recently added to or reduced their stakes in INTC. Norges Bank purchased a new position in Intel in the 4th quarter worth $2,080,248,000. BlackRock Inc. raised its position in Intel by 2.1% in the 4th quarter. BlackRock Inc. now owns 331,347,190 shares of the chip maker’s stock worth $17,064,379,000 after purchasing an additional 6,936,922 shares during the period. State Street Corp raised its position in Intel by 3.7% in the 4th quarter. State Street Corp now owns 177,117,083 shares of the chip maker’s stock worth $9,121,530,000 after purchasing an additional 6,279,484 shares during the period. Atreides Management LP purchased a new position in Intel in the 4th quarter worth $214,503,000. Finally, Primecap Management Co. CA grew its holdings in Intel by 9.5% in the 4th quarter. Primecap Management Co. CA now owns 39,401,295 shares of the chip maker’s stock worth $2,029,167,000 after acquiring an additional 3,405,750 shares during the last quarter. Hedge funds and other institutional investors own 62.74% of the company’s stock.
Analysts Set New Price Targets
A number of equities research analysts have issued reports on INTC shares. Truist Financial cut their price target on shares of Intel from $53.00 to $49.00 in a report on Friday, April 8th. Morgan Stanley cut their price target on shares of Intel from $46.00 to $36.00 and set an “underweight” rating on the stock in a report on Friday, July 29th. Citigroup cut their target price on shares of Intel from $50.00 to $45.00 and set a “neutral” rating on the stock in a research note on Monday, June 6th. UBS Group cut their target price on shares of Intel from $51.00 to $41.00 and set a “neutral” rating on the stock in a research note on Friday, July 29th. Finally, Sanford C. Bernstein set a $30.00 target price on shares of Intel in a research note on Monday, August 1st. Nine investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Intel has a consensus rating of “Hold” and an average target price of $43.83.
Intel Stock Performance
Intel (NASDAQ:INTC – Get Rating) last announced its earnings results on Thursday, July 28th. The chip maker reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.41). The business had revenue of $15.30 billion for the quarter, compared to the consensus estimate of $17.93 billion. Intel had a net margin of 26.03% and a return on equity of 16.65%. The business’s quarterly revenue was down 17.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.28 earnings per share. On average, research analysts anticipate that Intel Co. will post 2.26 earnings per share for the current year.
Intel Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 1st. Shareholders of record on Sunday, August 7th will be given a $0.365 dividend. The ex-dividend date is Friday, August 5th. This represents a $1.46 dividend on an annualized basis and a dividend yield of 4.13%. Intel’s payout ratio is currently 31.26%.
Intel Company Profile
Intel Corporation engages in the design, manufacture, and sale of computer products and technologies worldwide. The company operates through CCG, DCG, IOTG, Mobileye, NSG, PSG, and All Other segments. It offers platform products, such as central processing units and chipsets, and system-on-chip and multichip packages; and non-platform or adjacent products, including accelerators, boards and systems, connectivity products, graphics, and memory and storage products.
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