Salem Investment Counselors Inc. Lowers Position in Intel Co. (NASDAQ:INTC)

Salem Investment Counselors Inc. trimmed its stake in Intel Co. (NASDAQ:INTC) by 2.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 152,305 shares of the chip maker’s stock after selling 3,137 shares during the quarter. Salem Investment Counselors Inc.’s holdings in Intel were worth $6,727,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the business. International Assets Investment Management LLC grew its stake in Intel by 0.6% during the first quarter. International Assets Investment Management LLC now owns 66,192 shares of the chip maker’s stock worth $2,947,000 after buying an additional 419 shares during the period. &PARTNERS grew its stake in Intel by 4.3% during the first quarter. &PARTNERS now owns 42,643 shares of the chip maker’s stock worth $1,884,000 after buying an additional 1,769 shares during the period. Werlinich Asset Management LLC purchased a new stake in Intel during the first quarter worth approximately $1,414,000. Sanders Morris Harris LLC grew its stake in Intel by 4.6% during the first quarter. Sanders Morris Harris LLC now owns 15,695 shares of the chip maker’s stock worth $693,000 after buying an additional 685 shares during the period. Finally, MJP Associates Inc. ADV grew its stake in Intel by 34.0% during the first quarter. MJP Associates Inc. ADV now owns 9,112 shares of the chip maker’s stock worth $402,000 after buying an additional 2,311 shares during the period. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Intel

In related news, CEO Patrick P. Gelsinger purchased 4,100 shares of Intel stock in a transaction dated Wednesday, May 1st. The stock was acquired at an average cost of $30.29 per share, with a total value of $124,189.00. Following the completion of the transaction, the chief executive officer now directly owns 39,375 shares of the company’s stock, valued at $1,192,668.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Patrick P. Gelsinger purchased 4,100 shares of Intel stock in a transaction dated Wednesday, May 1st. The stock was acquired at an average cost of $30.29 per share, with a total value of $124,189.00. Following the completion of the transaction, the chief executive officer now directly owns 39,375 shares of the company’s stock, valued at $1,192,668.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Patrick P. Gelsinger purchased 4,000 shares of Intel stock in a transaction dated Monday, April 29th. The stock was bought at an average cost of $31.42 per share, with a total value of $125,680.00. Following the completion of the transaction, the chief executive officer now directly owns 35,275 shares of the company’s stock, valued at $1,108,340.50. The disclosure for this purchase can be found here. Insiders own 0.04% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Wedbush decreased their target price on shares of Intel from $40.00 to $32.50 and set a “neutral” rating for the company in a research note on Friday, April 26th. Rosenblatt Securities reaffirmed a “sell” rating and issued a $17.00 price target on shares of Intel in a report on Friday, April 26th. UBS Group upped their price target on shares of Intel from $46.00 to $50.00 and gave the company a “neutral” rating in a report on Monday, April 1st. Stifel Nicolaus reaffirmed a “hold” rating and issued a $45.00 price target on shares of Intel in a report on Wednesday, April 3rd. Finally, Morgan Stanley cut their price target on shares of Intel from $48.00 to $36.00 and set an “equal weight” rating on the stock in a report on Friday, April 26th. Three analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $39.58.

Intel Price Performance

Shares of NASDAQ:INTC traded up $0.47 during trading hours on Friday, hitting $31.09. 92,549,024 shares of the company’s stock traded hands, compared to its average volume of 36,634,804. Intel Co. has a 52 week low of $29.73 and a 52 week high of $51.28. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.14 and a current ratio of 1.57. The company’s fifty day simple moving average is $31.57 and its two-hundred day simple moving average is $39.92. The company has a market cap of $132.35 billion, a price-to-earnings ratio of 32.39, a price-to-earnings-growth ratio of 14.60 and a beta of 1.06.

Intel (NASDAQ:INTC) last posted its quarterly earnings data on Thursday, April 25th. The chip maker reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.03). Intel had a net margin of 7.36% and a return on equity of 2.19%. The business had revenue of $12.72 billion for the quarter, compared to the consensus estimate of $12.76 billion. As a group, equities analysts anticipate that Intel Co. will post 0.09 EPS for the current fiscal year.

Intel Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Shareholders of record on Tuesday, May 7th were paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date was Monday, May 6th. Intel’s dividend payout ratio is presently 52.08%.

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.