Primecap Management Co. CA Has $2.41 Billion Holdings in Intel Co. (NASDAQ:INTC)

Primecap Management Co. CA lifted its position in shares of Intel Co. (NASDAQ:INTC) by 2.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 77,822,587 shares of the chip maker’s stock after purchasing an additional 1,697,550 shares during the quarter. Intel makes up about 1.7% of Primecap Management Co. CA’s investment portfolio, making the stock its 14th largest position. Primecap Management Co. CA’s holdings in Intel were worth $2,410,166,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of INTC. DDFG Inc acquired a new stake in shares of Intel during the 4th quarter worth approximately $205,000. Gryphon Financial Partners LLC grew its holdings in shares of Intel by 8.2% during the 4th quarter. Gryphon Financial Partners LLC now owns 21,024 shares of the chip maker’s stock worth $1,060,000 after purchasing an additional 1,601 shares in the last quarter. Brown Advisory Inc. grew its holdings in shares of Intel by 3.0% during the 4th quarter. Brown Advisory Inc. now owns 534,068 shares of the chip maker’s stock worth $26,837,000 after purchasing an additional 15,796 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Intel during the 4th quarter worth approximately $501,000. Finally, Hillsdale Investment Management Inc. grew its holdings in shares of Intel by 110.8% during the 4th quarter. Hillsdale Investment Management Inc. now owns 5,250 shares of the chip maker’s stock worth $264,000 after purchasing an additional 2,760 shares in the last quarter. Institutional investors and hedge funds own 64.53% of the company’s stock.

Insider Buying and Selling

In other news, CEO Patrick P. Gelsinger bought 12,500 shares of the stock in a transaction on Monday, August 5th. The stock was purchased at an average price of $20.16 per share, with a total value of $252,000.00. Following the completion of the purchase, the chief executive officer now owns 37,975 shares of the company’s stock, valued at $765,576. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.04% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on INTC. Raymond James lowered Intel from an “outperform” rating to a “market perform” rating in a research note on Friday, August 2nd. Hsbc Global Res lowered Intel from a “hold” rating to a “moderate sell” rating in a research note on Friday, August 2nd. StockNews.com lowered Intel from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. UBS Group decreased their price target on Intel from $37.00 to $32.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Finally, Wedbush decreased their price target on Intel from $32.50 to $25.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Six analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $32.04.

Intel Price Performance

INTC opened at $20.91 on Tuesday. The company has a fifty day moving average price of $24.71 and a two-hundred day moving average price of $31.45. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.24 and a current ratio of 1.59. Intel Co. has a 52 week low of $18.51 and a 52 week high of $51.28. The firm has a market capitalization of $89.41 billion, a PE ratio of 21.78 and a beta of 1.03.

Intel (NASDAQ:INTC) last released its earnings results on Thursday, August 1st. The chip maker reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.08). Intel had a return on equity of 1.78% and a net margin of 1.77%. The business had revenue of $12.80 billion for the quarter, compared to analyst estimates of $12.92 billion. During the same period in the prior year, the firm posted ($0.05) EPS. Intel’s revenue was down .8% on a year-over-year basis. As a group, analysts anticipate that Intel Co. will post -0.47 earnings per share for the current year.

Intel Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 7th were given a $0.125 dividend. The ex-dividend date was Wednesday, August 7th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.39%. Intel’s dividend payout ratio is 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.