Sumitomo Mitsui DS Asset Management Company Ltd Increases Stock Holdings in Intel Co. (NASDAQ:INTC)

Sumitomo Mitsui DS Asset Management Company Ltd increased its position in Intel Co. (NASDAQ:INTC) by 6.1% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 858,374 shares of the chip maker’s stock after purchasing an additional 49,193 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Intel were worth $20,137,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. America First Investment Advisors LLC acquired a new position in Intel in the 2nd quarter valued at $25,000. Tributary Capital Management LLC purchased a new position in Intel in the first quarter valued at about $27,000. Cyrus J. Lawrence LLC acquired a new stake in shares of Intel during the 2nd quarter valued at approximately $27,000. Spartan Fund Management Inc. purchased a new stake in shares of Intel during the 2nd quarter worth approximately $31,000. Finally, Financial Connections Group Inc. acquired a new stake in shares of Intel in the 2nd quarter worth approximately $32,000. 64.53% of the stock is owned by hedge funds and other institutional investors.

Intel Price Performance

NASDAQ INTC opened at $22.44 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.59 and a quick ratio of 1.24. The firm has a market capitalization of $95.53 billion, a price-to-earnings ratio of 23.38 and a beta of 1.03. The company has a 50 day simple moving average of $21.34 and a 200-day simple moving average of $28.29. Intel Co. has a 52-week low of $18.51 and a 52-week high of $51.28.

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 1.78% and a net margin of 1.77%. The company had revenue of $12.80 billion during the quarter, compared to analyst estimates of $12.92 billion. During the same period last year, the company posted ($0.05) earnings per share. The company’s revenue was down .8% compared to the same quarter last year. Equities research analysts predict that Intel Co. will post -0.47 earnings per share for the current fiscal year.

Intel Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th were paid a dividend of $0.125 per share. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $0.50 annualized dividend and a dividend yield of 2.23%. Intel’s dividend payout ratio (DPR) is 52.08%.

Insiders Place Their Bets

In related news, CEO Patrick P. Gelsinger bought 12,500 shares of the firm’s 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 transaction, the chief executive officer now directly owns 37,975 shares of the company’s stock, valued at $765,576. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.04% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on INTC. UBS Group cut their price target on Intel from $37.00 to $32.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Rosenblatt Securities reissued a “sell” rating and set a $17.00 price objective on shares of Intel in a research note on Friday, August 2nd. TD Cowen raised shares of Intel to a “hold” rating in a research note on Monday, September 16th. JPMorgan Chase & Co. dropped their target price on shares of Intel from $35.00 to $26.00 and set an “underweight” rating for the company in a research report on Friday, August 2nd. Finally, Bank of America cut Intel from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $35.00 to $23.00 in a research note on Friday, August 2nd. Six equities research analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, Intel presently has an average rating of “Hold” and a consensus price target of $31.92.

About Intel

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.