Pacer Advisors Inc. Acquires 14,844 Shares of Intel Co. (NASDAQ:INTC)

Pacer Advisors Inc. boosted its holdings in shares of Intel Co. (NASDAQ:INTC) by 2.7% in the second quarter, HoldingsChannel reports. The fund owned 573,804 shares of the chip maker’s stock after acquiring an additional 14,844 shares during the period. Pacer Advisors Inc.’s holdings in Intel were worth $17,771,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the business. DDFG Inc purchased a new stake in shares of Intel in the 4th quarter worth approximately $205,000. Gryphon Financial Partners LLC boosted its holdings in Intel by 8.2% in the fourth quarter. Gryphon Financial Partners LLC now owns 21,024 shares of the chip maker’s stock worth $1,060,000 after acquiring an additional 1,601 shares in the last quarter. Orion Portfolio Solutions LLC grew its stake in shares of Intel by 3.1% in the fourth quarter. Orion Portfolio Solutions LLC now owns 98,320 shares of the chip maker’s stock worth $4,764,000 after acquiring an additional 2,915 shares during the last quarter. Congress Wealth Management LLC DE increased its holdings in shares of Intel by 15.8% during the fourth quarter. Congress Wealth Management LLC DE now owns 19,161 shares of the chip maker’s stock valued at $963,000 after acquiring an additional 2,616 shares in the last quarter. Finally, Johnson Financial Group Inc. raised its position in shares of Intel by 4.5% in the 4th quarter. Johnson Financial Group Inc. now owns 5,730 shares of the chip maker’s stock worth $288,000 after purchasing an additional 247 shares during the last quarter. Institutional investors own 64.53% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Intel from $38.00 to $27.00 and set a “hold” rating for the company in a research note on Friday, August 2nd. Rosenblatt Securities reissued a “sell” rating and set a $17.00 price target on shares of Intel in a research report on Friday, August 2nd. Raymond James cut Intel from an “outperform” rating to a “market perform” rating in a research report on Friday, August 2nd. TD Cowen raised Intel to a “hold” rating in a report on Monday, September 16th. Finally, Truist Financial lowered their price target on Intel from $33.00 to $25.00 and set a “hold” rating on the stock in a report on Friday, August 2nd. Six equities research analysts have rated the stock with a sell rating, twenty-four have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Intel currently has a consensus rating of “Hold” and a consensus target price of $32.04.

Intel Stock Performance

Shares of INTC opened at $21.84 on Monday. Intel Co. has a 52 week low of $18.51 and a 52 week high of $51.28. The company has a quick ratio of 1.24, a current ratio of 1.59 and a debt-to-equity ratio of 0.40. The stock has a market cap of $92.97 billion, a price-to-earnings ratio of 22.75 and a beta of 1.03. The business has a 50-day simple moving average of $23.67 and a two-hundred day simple moving average of $30.80.

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). The firm had revenue of $12.80 billion for the quarter, compared to the consensus estimate of $12.92 billion. Intel had a return on equity of 1.78% and a net margin of 1.77%. Intel’s revenue was down .8% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.05) EPS. On average, analysts expect that Intel Co. will post -0.47 EPS for the current year.

Intel Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 7th were paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date was Wednesday, August 7th. Intel’s dividend payout ratio (DPR) is 52.08%.

Insider Buying and Selling

In other Intel news, CEO Patrick P. Gelsinger purchased 12,500 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were acquired at an average cost of $20.16 per share, with a total value of $252,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 37,975 shares in the company, 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 currently owned by insiders.

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.