Vision Capital Management Inc. Purchases 4,321 Shares of Intel Co. (NASDAQ:INTC)

Vision Capital Management Inc. raised its position in Intel Co. (NASDAQ:INTC) by 42.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,590 shares of the chip maker’s stock after purchasing an additional 4,321 shares during the quarter. Vision Capital Management Inc.’s holdings in Intel were worth $452,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Frazier Financial Advisors LLC bought a new position in Intel in the 4th quarter valued at approximately $27,000. Burkett Financial Services LLC acquired a new position in Intel in the 4th quarter valued at approximately $27,000. Tributary Capital Management LLC bought a new position in shares of Intel during the first quarter valued at $27,000. Spartan Fund Management Inc. acquired a new position in shares of Intel during the second quarter worth $31,000. Finally, Financial Connections Group Inc. bought a new stake in shares of Intel in the second quarter worth $32,000. 64.53% of the stock is owned by institutional investors and hedge funds.

Intel Stock Performance

NASDAQ INTC opened at $19.07 on Tuesday. The company has a market cap of $81.54 billion, a P/E ratio of 19.86 and a beta of 1.03. The company has a fifty day simple moving average of $25.93 and a 200 day simple moving average of $32.26. The company has a current ratio of 1.59, a quick ratio of 1.24 and a debt-to-equity ratio of 0.40. Intel Co. has a 12-month low of $18.64 and a 12-month high of $51.28.

Intel (NASDAQ:INTC) last issued its quarterly earnings data on Thursday, August 1st. The chip maker reported $0.02 earnings per share (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 for the quarter, compared to analyst estimates of $12.92 billion. During the same quarter in the prior year, the business earned ($0.05) earnings per share. The firm’s quarterly revenue was down .8% compared to the same quarter last year. Sell-side analysts predict that Intel Co. will post -0.47 earnings per share for the current fiscal year.

Intel Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th were issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date of this dividend was Wednesday, August 7th. Intel’s dividend payout ratio is currently 52.08%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on INTC shares. Hsbc Global Res lowered Intel from a “hold” rating to a “moderate sell” rating in a research report on Friday, August 2nd. Jefferies Financial Group initiated coverage on Intel in a research report on Monday, May 13th. They set a “hold” rating and a $34.00 price objective for the company. Benchmark cut Intel from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. The Goldman Sachs Group lowered their price target on shares of Intel from $29.00 to $22.00 and set a “sell” rating for the company in a report on Friday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Intel from $38.00 to $27.00 and set a “hold” rating on the stock in a research note on Friday, August 2nd. Six investment analysts have rated the stock with a sell rating, twenty-four have given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Intel presently has an average rating of “Hold” and an average target price of $32.04.

Insider Transactions at Intel

In related news, CEO Patrick P. Gelsinger acquired 12,500 shares of the company’s stock in a transaction on Monday, August 5th. The shares were acquired at an average cost of $20.16 per share, for a total transaction of $252,000.00. Following the purchase, the chief executive officer now owns 37,975 shares in the company, valued at $765,576. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.04% of the company’s stock.

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.