Mengis Capital Management Inc. Sells 500 Shares of Intel Co. (NASDAQ:INTC)

Mengis Capital Management Inc. reduced its holdings in shares of Intel Co. (NASDAQ:INTCFree Report) by 0.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 107,703 shares of the chip maker’s stock after selling 500 shares during the quarter. Mengis Capital Management Inc.’s holdings in Intel were worth $3,829,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Cornerstone Planning Group LLC acquired a new stake in shares of Intel in the 2nd quarter valued at approximately $25,000. Your Advocates Ltd. LLP lifted its stake in Intel by 396.4% in the 2nd quarter. Your Advocates Ltd. LLP now owns 819 shares of the chip maker’s stock valued at $27,000 after purchasing an additional 654 shares during the last quarter. Legacy Financial Group LLC acquired a new stake in Intel in the third quarter valued at approximately $30,000. Moser Wealth Advisors LLC acquired a new position in shares of Intel during the second quarter worth $31,000. Finally, Steward Financial Group LLC bought a new position in shares of Intel in the 2nd quarter valued at $31,000. 60.84% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Intel news, CEO Patrick P. Gelsinger purchased 2,800 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was purchased at an average price of $42.74 per share, for a total transaction of $119,672.00. Following the completion of the purchase, the chief executive officer now directly owns 31,275 shares of the company’s stock, valued at $1,336,693.50. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Intel news, CEO Patrick P. Gelsinger purchased 3,000 shares of Intel stock in a transaction dated Monday, January 29th. The stock was purchased at an average price of $43.36 per share, with a total value of $130,080.00. Following the transaction, the chief executive officer now directly owns 28,475 shares of the company’s stock, valued at $1,234,676. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Patrick P. Gelsinger acquired 2,800 shares of Intel stock in a transaction dated Thursday, February 1st. The stock was bought 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.

Intel Price Performance

Shares of NASDAQ INTC traded up $0.72 during mid-day trading on Monday, reaching $44.03. 48,975,652 shares of the company were exchanged, compared to its average volume of 45,215,098. The stock has a market capitalization of $186.16 billion, a PE ratio of 111.05, a PEG ratio of 4.04 and a beta of 1.02. The company’s 50 day moving average price is $46.00 and its 200 day moving average price is $40.10. The company has a quick ratio of 1.15, a current ratio of 1.54 and a debt-to-equity ratio of 0.43. Intel Co. has a 52 week low of $24.73 and a 52 week high of $51.28.

Intel (NASDAQ:INTCGet Free Report) last issued its quarterly earnings data on Thursday, January 25th. The chip maker reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.27. The firm had revenue of $15.40 billion for the quarter, compared to analyst estimates of $15.16 billion. Intel had a return on equity of 1.64% and a net margin of 3.11%. The business’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period last year, the company earned $0.10 EPS. Sell-side analysts forecast that Intel Co. will post 0.72 earnings per share for the current fiscal year.

Intel Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Wednesday, February 7th will be issued a dividend of $0.125 per share. The ex-dividend date of this dividend is Tuesday, February 6th. This represents a $0.50 annualized dividend and a dividend yield of 1.14%. Intel’s payout ratio is 128.21%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on INTC. Barclays boosted their price objective on Intel from $32.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 16th. Wedbush lowered their price objective on Intel from $45.00 to $40.00 and set a “neutral” rating for the company in a research note on Friday, January 26th. The Goldman Sachs Group lifted their target price on shares of Intel from $34.00 to $39.00 and gave the stock a “sell” rating in a research report on Friday, January 26th. Stifel Nicolaus upped their price target on shares of Intel from $38.00 to $45.00 and gave the company a “hold” rating in a research report on Tuesday, January 2nd. Finally, Truist Financial cut their price target on shares of Intel from $47.00 to $45.00 and set a “hold” rating on the stock in a report on Friday, January 26th. Four investment analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $41.48.

Read Our Latest Stock Analysis on INTC

Intel Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Intel (NASDAQ:INTC)

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