Panagora Asset Management Inc. Has $4.67 Million Position in Intel Co. (NASDAQ:INTC)

Panagora Asset Management Inc. boosted its stake in Intel Co. (NASDAQ:INTC - Free Report) by 95.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 150,672 shares of the chip maker's stock after purchasing an additional 73,581 shares during the quarter. Panagora Asset Management Inc.'s holdings in Intel were worth $4,666,000 as of its most recent SEC filing.

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Several other institutional investors have also recently made changes to their positions in INTC. GUNN & Co INVESTMENT MANAGEMENT INC. bought a new stake in shares of Intel during the fourth quarter valued at approximately $297,000. DDFG Inc acquired a new stake in Intel in the 4th quarter valued at $205,000. Cary Street Partners Asset Management LLC increased its stake in Intel by 3.8% during the 4th quarter. Cary Street Partners Asset Management LLC now owns 11,329 shares of the chip maker's stock valued at $569,000 after purchasing an additional 413 shares in the last quarter. Howe & Rusling Inc. lifted its stake in shares of Intel by 1.8% in the fourth quarter. Howe & Rusling Inc. now owns 29,402 shares of the chip maker's stock valued at $1,477,000 after buying an additional 531 shares in the last quarter. Finally, Wilbanks Smith & Thomas Asset Management LLC grew its holdings in shares of Intel by 0.6% during the fourth quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 68,431 shares of the chip maker's stock valued at $3,439,000 after buying an additional 390 shares during the last quarter. Institutional investors and hedge funds own 64.53% of the company's stock.

Wall Street Analysts Forecast Growth

INTC has been the topic of a number of analyst reports. Barclays lowered their target price on shares of Intel from $40.00 to $25.00 and set an "equal weight" rating on the stock in a report on Friday, August 2nd. Rosenblatt Securities restated a "sell" rating and issued a $17.00 target price on shares of Intel in a report on Friday, August 2nd. Mizuho downgraded Intel from an "outperform" rating to a "neutral" rating and decreased their price target for the stock from $36.00 to $22.00 in a report on Thursday, August 8th. New Street Research downgraded shares of Intel from a "buy" rating to a "neutral" rating in a report on Friday, August 2nd. Finally, UBS Group lowered their target price on shares of Intel from $37.00 to $32.00 and set a "neutral" rating for the company in a report on Friday, August 2nd. Six investment analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $32.04.

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Get Our Latest Stock Analysis on Intel

Insiders Place Their Bets

In other Intel news, CEO Patrick P. Gelsinger acquired 12,500 shares of the business's stock in a transaction dated Monday, August 5th. The stock was bought at an average price of $20.16 per share, with a total value of $252,000.00. Following the completion of the acquisition, the chief executive officer now owns 37,975 shares of the company's stock, valued at $765,576. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.04% of the company's stock.

Intel Stock Performance

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Intel stock traded up $1.91 during mid-day trading on Friday, reaching $22.04. The company's stock had a trading volume of 176,681,391 shares, compared to its average volume of 53,619,305. The firm's fifty day moving average price is $27.63 and its two-hundred day moving average price is $33.66. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.14 and a current ratio of 1.57. Intel Co. has a 12-month low of $18.84 and a 12-month high of $51.28. The company has a market capitalization of $93.82 billion, a P/E ratio of 22.82, a PEG ratio of 17.38 and a beta of 1.05.

Intel (NASDAQ:INTC - Get Free Report) last announced its quarterly earnings results on Thursday, August 1st. The chip maker reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.08). Intel had a net margin of 1.77% and a return on equity of 1.82%. The company had revenue of $12.80 billion during the quarter, compared to analysts' expectations of $12.92 billion. During the same quarter last year, the firm posted ($0.05) earnings per share. Intel's revenue for the quarter was down .8% compared to the same quarter last year. Sell-side analysts predict that Intel Co. will post 0.07 EPS for the current fiscal year.

Intel Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th will be given a $0.125 dividend. The ex-dividend date is Wednesday, August 7th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.27%. Intel's dividend payout ratio (DPR) is currently 52.08%.

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.

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