Lynch & Associates IN Decreases Holdings in Intel Co. (NASDAQ:INTC)

Lynch & Associates IN reduced its stake in Intel Co. (NASDAQ:INTC) by 71.2% during the third quarter, according to its most recent filing with the SEC. The fund owned 22,036 shares of the chip maker’s stock after selling 54,437 shares during the quarter. Lynch & Associates IN’s holdings in Intel were worth $517,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Adirondack Trust Co. increased its position in shares of Intel by 0.5% during the first quarter. Adirondack Trust Co. now owns 51,783 shares of the chip maker’s stock valued at $2,287,000 after acquiring an additional 278 shares in the last quarter. Abacus Wealth Partners LLC increased its holdings in shares of Intel by 6.7% in the 1st quarter. Abacus Wealth Partners LLC now owns 4,542 shares of the chip maker’s stock worth $201,000 after purchasing an additional 286 shares in the last quarter. First Affirmative Financial Network raised its stake in shares of Intel by 1.8% in the first quarter. First Affirmative Financial Network now owns 16,608 shares of the chip maker’s stock worth $734,000 after purchasing an additional 299 shares during the last quarter. Mechanics Bank Trust Department lifted its holdings in shares of Intel by 0.8% during the first quarter. Mechanics Bank Trust Department now owns 38,540 shares of the chip maker’s stock valued at $1,702,000 after purchasing an additional 320 shares in the last quarter. Finally, Guardian Capital Advisors LP lifted its holdings in shares of Intel by 2.1% during the first quarter. Guardian Capital Advisors LP now owns 16,030 shares of the chip maker’s stock valued at $708,000 after purchasing an additional 328 shares in the last quarter. Institutional investors own 64.53% of the company’s stock.

Analyst Upgrades and Downgrades

INTC has been the subject of a number of recent analyst reports. Cantor Fitzgerald decreased their target price on Intel from $40.00 to $27.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. The Goldman Sachs Group reduced their price target on shares of Intel from $29.00 to $22.00 and set a “sell” rating for the company in a research note on Friday, August 2nd. Mizuho downgraded shares of Intel from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $36.00 to $22.00 in a research report on Thursday, August 8th. Northland Securities cut 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. Finally, StockNews.com cut Intel from a “hold” rating to a “sell” rating in a report on Friday, August 9th. Six analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $31.96.

Intel Stock Down 3.3 %

NASDAQ INTC opened at $22.66 on Wednesday. Intel Co. has a 12 month low of $18.51 and a 12 month high of $51.28. The company has a current ratio of 1.59, a quick ratio of 1.24 and a debt-to-equity ratio of 0.40. The stock has a market cap of $96.46 billion, a PE ratio of 23.60 and a beta of 1.03. The stock’s 50 day moving average is $21.24 and its 200 day moving average is $28.37.

Intel (NASDAQ:INTC) last released its earnings results on Thursday, August 1st. The chip maker reported $0.02 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 return on equity of 1.78% and a net margin of 1.77%. Intel’s quarterly revenue was down .8% compared to the same quarter last year. During the same period last year, the firm posted ($0.05) EPS. Research analysts predict that Intel Co. will post -0.47 EPS for the current fiscal year.

Intel Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th were given a dividend of $0.125 per share. The ex-dividend date was Wednesday, August 7th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.21%. Intel’s payout ratio is 52.08%.

Insider Transactions at Intel

In other news, CEO Patrick P. Gelsinger purchased 12,500 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was bought at an average cost of $20.16 per share, with a total value of $252,000.00. Following the completion of the purchase, the chief executive officer now owns 37,975 shares in the company, valued at approximately $765,576. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.04% of the company’s stock.

About Intel

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.