GAMMA Investing LLC Reduces Stock Holdings in Intel Co. (NASDAQ:INTC)

GAMMA Investing LLC cut its position in shares of Intel Co. (NASDAQ:INTC) by 8.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 27,296 shares of the chip maker’s stock after selling 2,617 shares during the period. GAMMA Investing LLC’s holdings in Intel were worth $845,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in INTC. Barrett & Company Inc. boosted its stake in shares of Intel by 6.1% in the fourth quarter. Barrett & Company Inc. now owns 3,662 shares of the chip maker’s stock valued at $184,000 after purchasing an additional 210 shares during the period. Waldron Private Wealth LLC boosted its stake in shares of Intel by 0.6% in the fourth quarter. Waldron Private Wealth LLC now owns 41,074 shares of the chip maker’s stock valued at $2,063,000 after purchasing an additional 232 shares during the period. Valley National Advisers Inc. boosted its stake in shares of Intel by 4.3% in the fourth quarter. Valley National Advisers Inc. now owns 5,974 shares of the chip maker’s stock valued at $300,000 after purchasing an additional 246 shares during the period. Lester Murray Antman dba SimplyRich boosted its stake in shares of Intel by 1.1% in the fourth quarter. Lester Murray Antman dba SimplyRich now owns 22,179 shares of the chip maker’s stock valued at $1,114,000 after purchasing an additional 247 shares during the period. Finally, Johnson Financial Group Inc. boosted its stake in shares of Intel by 4.5% in the fourth quarter. Johnson Financial Group Inc. now owns 5,730 shares of the chip maker’s stock valued at $288,000 after purchasing an additional 247 shares during the period. 64.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on INTC. Bank of America downgraded shares of Intel from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $35.00 to $23.00 in a research note on Friday. Susquehanna decreased their price target on shares of Intel from $35.00 to $26.00 and set a “neutral” rating for the company in a research note on Friday. Morgan Stanley decreased their price target on shares of Intel from $36.00 to $25.00 and set an “equal weight” rating for the company in a research note on Friday. Sanford C. Bernstein decreased their price target on shares of Intel from $42.00 to $35.00 and set a “market perform” rating for the company in a research note on Friday, April 26th. Finally, Wedbush decreased their price target on shares of Intel from $32.50 to $25.00 and set a “neutral” rating for the company in a research note on Friday. Five research analysts have rated the stock with a sell rating, twenty-two have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Intel has a consensus rating of “Hold” and a consensus target price of $32.92.

Intel Price Performance

Shares of NASDAQ:INTC traded down $1.57 on Monday, reaching $19.91. 113,255,588 shares of the company were exchanged, compared to its average volume of 50,417,914. The company has a current ratio of 1.57, a quick ratio of 1.14 and a debt-to-equity ratio of 0.43. Intel Co. has a 1-year low of $19.29 and a 1-year high of $51.28. The firm has a market cap of $84.76 billion, a price-to-earnings ratio of 20.65, a price-to-earnings-growth ratio of 17.38 and a beta of 1.05. The company has a 50-day moving average of $31.35 and a 200-day moving average of $36.71.

Intel (NASDAQ:INTC) last posted its quarterly earnings results on Thursday, August 1st. The chip maker reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.08). Intel had a return on equity of 1.82% and a net margin of 1.77%. The company had revenue of $12.80 billion for the quarter, compared to analyst estimates of $12.92 billion. During the same period last year, the company earned ($0.05) earnings per share. The business’s revenue for the quarter was down .8% compared to the same quarter last year. Equities analysts forecast that Intel Co. will post 0.07 earnings per share for the current fiscal year.

Intel Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, September 1st. Investors of record on Wednesday, August 7th will be paid a $0.125 dividend. The ex-dividend date of this dividend is Wednesday, August 7th. This represents a $0.50 dividend on an annualized basis and a yield of 2.51%. Intel’s payout ratio is 52.08%.

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.