LaFleur & Godfrey LLC Reduces Stake in Intel Co. (NASDAQ:INTC)

LaFleur & Godfrey LLC lessened its position in shares of Intel Co. (NASDAQ:INTC) by 82.7% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 13,760 shares of the chip maker’s stock after selling 65,926 shares during the quarter. LaFleur & Godfrey LLC’s holdings in Intel were worth $323,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Intel by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 389,098,435 shares of the chip maker’s stock worth $17,186,478,000 after acquiring an additional 3,310,528 shares during the last quarter. Capital International Investors grew its stake in shares of Intel by 16.0% during the 1st quarter. Capital International Investors now owns 112,093,582 shares of the chip maker’s stock valued at $4,951,174,000 after acquiring an additional 15,475,631 shares during the period. Primecap Management Co. CA increased its holdings in Intel by 2.2% in the 2nd quarter. Primecap Management Co. CA now owns 77,822,587 shares of the chip maker’s stock worth $2,410,166,000 after acquiring an additional 1,697,550 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Intel by 6.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 39,841,750 shares of the chip maker’s stock worth $1,759,811,000 after acquiring an additional 2,457,243 shares during the period. Finally, Legal & General Group Plc raised its stake in Intel by 1.3% during the 2nd quarter. Legal & General Group Plc now owns 37,513,226 shares of the chip maker’s stock worth $1,161,779,000 after acquiring an additional 487,191 shares during the period. Institutional investors own 64.53% of the company’s stock.

Intel Stock Down 1.3 %

Shares of Intel stock traded down $0.30 during trading on Wednesday, hitting $22.36. 37,042,766 shares of the stock traded hands, compared to its average volume of 58,876,898. Intel Co. has a 52-week low of $18.51 and a 52-week high of $51.28. The stock’s fifty day simple moving average is $21.24 and its 200 day simple moving average is $28.37. The firm has a market cap of $95.19 billion, a P/E ratio of 23.00 and a beta of 1.03. The company has a current ratio of 1.59, a quick ratio of 1.24 and a debt-to-equity ratio of 0.40.

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

Intel Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th were paid a $0.125 dividend. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $0.50 annualized dividend and a yield of 2.24%. Intel’s dividend payout ratio (DPR) is presently 52.08%.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Rosenblatt Securities restated a “sell” rating and set a $17.00 price objective on shares of Intel in a research report on Friday, August 2nd. The Goldman Sachs Group lowered their price objective on Intel from $29.00 to $22.00 and set a “sell” rating on the stock in a research report on Friday, August 2nd. TD Cowen upgraded Intel to a “hold” rating in a research report on Monday, September 16th. Roth Mkm dropped their price target on Intel from $35.00 to $25.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Intel from $27.00 to $25.00 and set a “hold” rating on the stock in a research report on Thursday, October 3rd. Six investment analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $31.96.

Insider Buying and Selling at Intel

In other news, CEO Patrick P. Gelsinger acquired 12,500 shares of Intel stock in a transaction that occurred on Monday, August 5th. The stock was purchased at an average price of $20.16 per share, for a total transaction of $252,000.00. Following 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 position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.04% of the company’s stock.

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.