Plimoth Trust Co. LLC Boosts Position in Intel Co. (NASDAQ:INTC)

by · The Cerbat Gem

Plimoth Trust Co. LLC raised its position in Intel Co. (NASDAQ:INTC – Free Report) by 13.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 107,811 shares of the chip maker’s stock after purchasing an additional 12,956 shares during the period. Plimoth Trust Co. LLC’s holdings in Intel were worth $2,529,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. America First Investment Advisors LLC acquired a new stake in Intel during the 2nd quarter valued at $25,000. Tributary Capital Management LLC acquired a new stake in shares of Intel during the first quarter valued at $27,000. Cyrus J. Lawrence LLC purchased a new stake in Intel during the 2nd quarter worth about $27,000. Spartan Fund Management Inc. acquired a new position in Intel in the 2nd quarter valued at about $31,000. Finally, Financial Connections Group Inc. purchased a new position in Intel in the 2nd quarter valued at about $32,000. Institutional investors and hedge funds own 64.53% of the company’s stock.

Wall Street Analysts Forecast Growth

INTC has been the subject of a number of recent research reports. Benchmark reiterated a “hold” rating on shares of Intel in a report on Monday, September 23rd. StockNews.com cut shares of Intel from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. Northland Securities lowered their price objective on Intel from $68.00 to $42.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Cantor Fitzgerald reduced their target price on Intel from $40.00 to $27.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Intel from $27.00 to $25.00 and set a “hold” rating for the company in a research note on Thursday, October 3rd. Six investment analysts have rated the stock with a sell rating, twenty-four have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $31.92.

Check Out Our Latest Analysis on INTC

Intel Stock Up 0.3 %

Shares of INTC stock traded up $0.07 during trading hours on Monday, hitting $22.84. 39,531,719 shares of the company were exchanged, compared to its average volume of 58,737,926. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.24 and a current ratio of 1.59. The stock has a market capitalization of $97.23 billion, a price-to-earnings ratio of 23.33 and a beta of 1.03. Intel Co. has a one year low of $18.51 and a one year high of $51.28. The business’s 50-day simple moving average is $21.40 and its two-hundred day simple moving average is $27.94.

Intel (NASDAQ:INTC – Get Free Report) 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%. The company’s quarterly revenue was down .8% on a year-over-year basis. During the same period in the prior year, the business earned ($0.05) EPS. Sell-side analysts predict that Intel Co. will post -0.47 EPS 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 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 2.19%. Intel’s payout ratio is currently 52.08%.

Insider Activity

In other Intel news, CEO Patrick P. Gelsinger acquired 12,500 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were purchased at an average price of $20.16 per share, for a total transaction of $252,000.00. Following the completion of the purchase, the chief executive officer now directly owns 37,975 shares in the company, valued at $765,576. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.04% of the company’s stock.

About Intel

(Free Report)

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.

Further Reading

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