Main Street Research LLC Increases Stock Position in Intel Co. (NASDAQ:INTC)

Main Street Research LLC boosted its stake in Intel Co. (NASDAQ:INTC) by 4.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,379 shares of the chip maker’s stock after purchasing an additional 329 shares during the quarter. Main Street Research LLC’s holdings in Intel were worth $371,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in INTC. Moneta Group Investment Advisors LLC raised its holdings in shares of Intel by 100,953.1% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 51,133,863 shares of the chip maker’s stock worth $1,351,468,000 after purchasing an additional 51,083,262 shares during the last quarter. Norges Bank acquired a new position in shares of Intel in the fourth quarter valued at approximately $1,092,939,000. Clearbridge Investments LLC boosted its holdings in shares of Intel by 4,407.3% in the 1st quarter. Clearbridge Investments LLC now owns 16,439,207 shares of the chip maker’s stock valued at $814,727,000 after buying an additional 16,074,485 shares in the last quarter. Barclays PLC raised its position in Intel by 171.1% in the 2nd quarter. Barclays PLC now owns 21,404,715 shares of the chip maker’s stock valued at $715,773,000 after purchasing an additional 13,507,774 shares during the last quarter. Finally, Morgan Stanley grew its stake in shares of Intel by 29.8% during the 4th quarter. Morgan Stanley now owns 53,342,230 shares of the chip maker’s stock worth $1,409,835,000 after purchasing an additional 12,241,200 shares during the period. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

Intel Stock Performance

Shares of INTC traded up $0.16 during mid-day trading on Tuesday, hitting $36.47. The company’s stock had a trading volume of 15,478,779 shares, compared to its average volume of 46,774,902. Intel Co. has a one year low of $26.85 and a one year high of $51.28. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.15 and a current ratio of 1.54. The firm has a market capitalization of $154.20 billion, a PE ratio of 93.26, a price-to-earnings-growth ratio of 3.16 and a beta of 1.00. The stock’s 50-day moving average is $42.45 and its two-hundred day moving average is $42.39.

Intel (NASDAQ:INTC) last posted its quarterly earnings data on Thursday, January 25th. The chip maker reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.27. Intel had a return on equity of 1.64% and a net margin of 3.11%. The company had revenue of $15.40 billion during the quarter, compared to analysts’ expectations of $15.16 billion. During the same period in the prior year, the business earned $0.10 earnings per share. Intel’s revenue for the quarter was up 9.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Intel Co. will post 0.62 EPS for the current year.

Intel Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Wednesday, February 7th were paid a dividend of $0.125 per share. The ex-dividend date of this dividend was Tuesday, February 6th. This represents a $0.50 annualized dividend and a yield of 1.37%. Intel’s dividend payout ratio is currently 128.21%.

Insiders Place Their Bets

In other news, CEO Patrick P. Gelsinger acquired 2,800 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was purchased at an average cost of $42.74 per share, for a total transaction of $119,672.00. Following the completion of the transaction, the chief executive officer now directly owns 31,275 shares in the company, valued at $1,336,693.50. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Intel news, CEO Patrick P. Gelsinger bought 3,000 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The shares were acquired at an average cost of $43.36 per share, with a total value of $130,080.00. Following the acquisition, the chief executive officer now owns 28,475 shares of the company’s stock, valued at $1,234,676. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Patrick P. Gelsinger purchased 2,800 shares of Intel stock in a transaction that occurred on Thursday, February 1st. The stock was purchased at an average price of $42.74 per share, with a total value of $119,672.00. Following the completion of the purchase, the chief executive officer now directly owns 31,275 shares in the company, valued at $1,336,693.50. The disclosure for this purchase can be found here. Corporate insiders own 0.04% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on INTC. HSBC decreased their price target on shares of Intel from $46.00 to $44.00 and set a “hold” rating on the stock in a research note on Friday, January 26th. Rosenblatt Securities reaffirmed a “sell” rating and set a $17.00 price target on shares of Intel in a research note on Friday, February 23rd. Bank of America decreased their price target on shares of Intel from $50.00 to $44.00 and set a “neutral” rating on the stock in a research note on Friday. Truist Financial reaffirmed a “hold” rating and set a $45.00 price target on shares of Intel in a research note on Wednesday, April 3rd. Finally, UBS Group lifted their price target on shares of Intel from $46.00 to $50.00 and gave the company a “neutral” rating in a research report on Monday, April 1st. Four analysts have rated the stock with a sell rating, twenty have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $42.69.

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.