Sawgrass Asset Management LLC Invests $1.90 Million in Intel Co. (NASDAQ:INTC)

Sawgrass Asset Management LLC acquired a new position in shares of Intel Co. (NASDAQ:INTCGet Rating) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 38,280 shares of the chip maker’s stock, valued at approximately $1,897,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Lansing Street Advisors acquired a new stake in shares of Intel during the 1st quarter valued at about $28,000. Lloyd Advisory Services LLC. boosted its position in shares of Intel by 2,835.0% during the 1st quarter. Lloyd Advisory Services LLC. now owns 587 shares of the chip maker’s stock valued at $29,000 after acquiring an additional 567 shares in the last quarter. Landmark Wealth Management LLC acquired a new stake in shares of Intel during the 1st quarter valued at about $31,000. Emerald Advisers LLC acquired a new stake in shares of Intel during the 1st quarter valued at about $38,000. Finally, Gibson Wealth Advisors LLC acquired a new stake in shares of Intel during the 4th quarter valued at about $41,000. Institutional investors own 61.52% of the company’s stock.

Intel Stock Down 7.2 %

Shares of NASDAQ:INTC opened at $29.29 on Wednesday. Intel Co. has a 52 week low of $29.25 and a 52 week high of $56.28. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.41 and a current ratio of 1.86. The company has a market capitalization of $120.26 billion, a PE ratio of 6.27, a PEG ratio of 1.86 and a beta of 0.65. The company has a 50 day moving average price of $35.55 and a two-hundred day moving average price of $41.27.

Intel (NASDAQ:INTCGet Rating) last issued its earnings results on Thursday, July 28th. The chip maker reported $0.29 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.41). Intel had a net margin of 26.03% and a return on equity of 16.65%. The firm had revenue of $15.30 billion during the quarter, compared to the consensus estimate of $17.93 billion. During the same period in the previous year, the company posted $1.28 EPS. The firm’s revenue for the quarter was down 17.3% on a year-over-year basis. Analysts forecast that Intel Co. will post 2.25 earnings per share for the current year.

Intel Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Sunday, August 7th were paid a $0.365 dividend. This represents a $1.46 annualized dividend and a yield of 4.98%. The ex-dividend date of this dividend was Friday, August 5th. Intel’s payout ratio is presently 31.26%.

Insider Buying and Selling at Intel

In other news, CEO Patrick P. Gelsinger bought 14,800 shares of the stock in a transaction on Wednesday, August 24th. The stock was purchased at an average price of $33.86 per share, with a total value of $501,128.00. Following the completion of the purchase, the chief executive officer now owns 77,216 shares of the company’s stock, valued at $2,614,533.76. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.02% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Morgan Stanley decreased their target price on shares of Intel from $46.00 to $36.00 and set an “underweight” rating on the stock in a research report on Friday, July 29th. The Goldman Sachs Group set a $30.00 price target on shares of Intel in a research report on Friday, July 29th. Northland Securities reduced their price target on shares of Intel from $62.00 to $55.00 in a research report on Friday, July 29th. UBS Group reduced their price target on shares of Intel from $51.00 to $41.00 and set a “neutral” rating on the stock in a research report on Friday, July 29th. Finally, DZ Bank lowered shares of Intel from a “hold” rating to a “sell” rating and set a $30.00 price target on the stock. in a research report on Tuesday, August 2nd. Nine investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $42.96.

Intel Profile

(Get Rating)

Intel Corporation engages in the design, manufacture, and sale of computer products and technologies worldwide. The company operates through CCG, DCG, IOTG, Mobileye, NSG, PSG, and All Other segments. It offers platform products, such as central processing units and chipsets, and system-on-chip and multichip packages; and non-platform or adjacent products, including accelerators, boards and systems, connectivity products, graphics, and memory and storage products.

Further Reading

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Institutional Ownership by Quarter for Intel (NASDAQ:INTC)

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