2,945,209 Shares in Intel Co. (NASDAQ:INTC) Acquired by M&G Plc

M&G Plc acquired a new position in Intel Co. (NASDAQ:INTC) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,945,209 shares of the chip maker’s stock, valued at approximately $129,589,000.

Several other institutional investors also recently modified their holdings of INTC. New Millennium Group LLC grew its position in Intel by 87.2% during the fourth quarter. New Millennium Group LLC now owns 496 shares of the chip maker’s stock valued at $25,000 after acquiring an additional 231 shares during the last quarter. Burkett Financial Services LLC purchased a new stake in Intel in the fourth quarter worth $27,000. Frazier Financial Advisors LLC purchased a new stake in Intel in the fourth quarter worth $27,000. Tributary Capital Management LLC purchased a new stake in Intel in the first quarter worth $27,000. Finally, Signature Resources Capital Management LLC purchased a new stake in Intel in the fourth quarter worth $37,000. 64.53% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CEO Patrick P. Gelsinger purchased 4,100 shares of the business’s stock in a transaction on Wednesday, May 1st. The stock was acquired at an average cost of $30.29 per share, for a total transaction of $124,189.00. Following the purchase, the chief executive officer now directly owns 39,375 shares in the company, valued at approximately $1,192,668.75. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO Patrick P. Gelsinger purchased 4,100 shares of the business’s stock in a transaction on Wednesday, May 1st. The stock was acquired at an average cost of $30.29 per share, for a total transaction of $124,189.00. Following the purchase, the chief executive officer now directly owns 39,375 shares in the company, valued at approximately $1,192,668.75. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Patrick P. Gelsinger purchased 4,000 shares of the business’s stock in a transaction on Monday, April 29th. The shares were purchased at an average price of $31.42 per share, with a total value of $125,680.00. Following the completion of the purchase, the chief executive officer now owns 35,275 shares in the company, valued at $1,108,340.50. The disclosure for this purchase can be found here. 0.04% of the stock is owned by corporate insiders.

Intel Stock Performance

NASDAQ INTC traded down $1.89 during trading hours on Friday, hitting $32.98. The company’s stock had a trading volume of 69,628,654 shares, compared to its average volume of 50,896,944. Intel Co. has a 12 month low of $29.73 and a 12 month high of $51.28. The company’s 50 day simple moving average is $31.56 and its two-hundred day simple moving average is $38.04. The company has a market cap of $140.40 billion, a P/E ratio of 34.35, a price-to-earnings-growth ratio of 20.87 and a beta of 1.05. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.57 and a quick ratio of 1.14.

Intel (NASDAQ:INTC) last released its quarterly earnings data on Thursday, April 25th. The chip maker reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.03). Intel had a return on equity of 2.19% and a net margin of 7.36%. The business had revenue of $12.72 billion during the quarter, compared to the consensus estimate of $12.76 billion. As a group, sell-side analysts expect that Intel Co. will post 0.07 EPS for the current fiscal year.

Intel Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Tuesday, May 7th were issued a $0.125 dividend. The ex-dividend date of this dividend was Monday, May 6th. This represents a $0.50 annualized dividend and a yield of 1.52%. Intel’s payout ratio is 52.08%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on INTC shares. Wedbush dropped their price target on Intel from $40.00 to $32.50 and set a “neutral” rating for the company in a research note on Friday, April 26th. Stifel Nicolaus reissued a “hold” rating and set a $45.00 price objective on shares of Intel in a research report on Wednesday, April 3rd. Truist Financial lowered their price objective on Intel from $45.00 to $33.00 and set a “hold” rating for the company in a research report on Friday, April 26th. Susquehanna lowered their price objective on Intel from $40.00 to $35.00 and set a “neutral” rating for the company in a research report on Friday, April 26th. Finally, Mizuho lowered their price objective on Intel from $55.00 to $45.00 and set a “buy” rating for the company in a research report on Friday, April 26th. Three investment analysts have rated the stock with a sell rating, twenty-three have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Intel currently has a consensus rating of “Hold” and a consensus price target of $39.25.

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.