Corundum Group Inc. Decreases Position in Intel Co. (NASDAQ:INTC)

Corundum Group Inc. lowered its stake in shares of Intel Co. (NASDAQ:INTC) by 30.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 39,560 shares of the chip maker’s stock after selling 16,968 shares during the quarter. Corundum Group Inc.’s holdings in Intel were worth $928,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Capital International Investors raised its holdings in shares of Intel by 16.0% in the 1st quarter. Capital International Investors now owns 112,093,582 shares of the chip maker’s stock valued at $4,951,174,000 after purchasing an additional 15,475,631 shares in the last quarter. Van ECK Associates Corp increased its holdings in Intel by 60.5% in the second quarter. Van ECK Associates Corp now owns 34,591,800 shares of the chip maker’s stock valued at $1,071,308,000 after buying an additional 13,035,566 shares during the last quarter. Davis Selected Advisers raised its stake in Intel by 86.2% in the second quarter. Davis Selected Advisers now owns 12,642,316 shares of the chip maker’s stock valued at $391,533,000 after buying an additional 5,851,098 shares in the last quarter. Caxton Associates LP purchased a new stake in Intel during the 2nd quarter worth about $162,592,000. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of Intel by 2,681.1% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,431,749 shares of the chip maker’s stock worth $137,251,000 after acquiring an additional 4,272,395 shares in the last quarter. 64.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on INTC shares. HSBC lowered Intel from a “hold” rating to a “reduce” rating in a research report on Friday, August 2nd. Truist Financial lowered their target price on shares of Intel from $33.00 to $25.00 and set a “hold” rating for the company in a report on Friday, August 2nd. Northland Securities dropped their target price on shares of Intel from $68.00 to $42.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. TD Cowen raised shares of Intel to a “hold” rating in a research report on Monday, September 16th. Finally, Rosenblatt Securities reaffirmed a “sell” rating and set a $17.00 price objective on shares of Intel in a report on Friday, August 2nd. Six investment analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Intel presently has a consensus rating of “Hold” and a consensus target price of $31.92.

Intel Stock Up 1.5 %

INTC opened at $22.77 on Monday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.59 and a quick ratio of 1.24. Intel Co. has a 12 month low of $18.51 and a 12 month high of $51.28. The stock has a market capitalization of $96.93 billion, a P/E ratio of 23.72 and a beta of 1.03. The business has a 50 day simple moving average of $21.40 and a 200-day simple moving average of $27.94.

Intel (NASDAQ:INTC) last released its earnings results on Thursday, August 1st. The chip maker reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.08). Intel had a net margin of 1.77% and a return on equity of 1.78%. The business had revenue of $12.80 billion during the quarter, compared to analyst estimates of $12.92 billion. During the same period last year, the business posted ($0.05) EPS. Intel’s revenue was down .8% compared to the same quarter last year. On average, equities analysts anticipate that Intel Co. will post -0.47 earnings per share for the current fiscal year.

Intel Dividend Announcement

The business also recently declared 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 2.20%. Intel’s payout ratio is 52.08%.

Insider Buying and Selling

In related news, CEO Patrick P. Gelsinger acquired 12,500 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was purchased at an average cost of $20.16 per share, for a total transaction of $252,000.00. Following the transaction, the chief executive officer now directly owns 37,975 shares of the company’s stock, valued at approximately $765,576. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.04% of the company’s stock.

Intel Company 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.