Allspring Global Investments Holdings LLC Raises Position in Intel Co. (NASDAQ:INTC)

Allspring Global Investments Holdings LLC boosted its stake in Intel Co. (NASDAQ:INTC) by 164.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 618,175 shares of the chip maker’s stock after buying an additional 384,440 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Intel were worth $19,145,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in INTC. Norges Bank purchased a new position in shares of Intel during the fourth quarter valued at approximately $2,424,202,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of Intel by 543.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 37,384,507 shares of the chip maker’s stock valued at $1,878,572,000 after purchasing an additional 31,575,084 shares during the last quarter. Capital International Investors lifted its holdings in shares of Intel by 16.0% during the first quarter. Capital International Investors now owns 112,093,582 shares of the chip maker’s stock valued at $4,951,174,000 after purchasing an additional 15,475,631 shares during the last quarter. Van ECK Associates Corp lifted its holdings in shares of Intel by 44.8% during the first quarter. Van ECK Associates Corp now owns 21,556,234 shares of the chip maker’s stock valued at $952,139,000 after purchasing an additional 6,673,086 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in Intel by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 385,787,907 shares of the chip maker’s stock worth $19,385,842,000 after acquiring an additional 4,678,169 shares during the last quarter. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

Intel Trading Down 2.3 %

Shares of INTC stock opened at $19.61 on Thursday. Intel Co. has a 52-week low of $18.84 and a 52-week high of $51.28. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.14 and a current ratio of 1.57. The firm has a market capitalization of $83.48 billion, a PE ratio of 20.43, a PEG ratio of 17.38 and a beta of 1.05. The stock has a fifty day simple moving average of $27.63 and a two-hundred day simple moving average of $33.66.

Intel (NASDAQ:INTC) last issued its quarterly earnings results on Thursday, August 1st. The chip maker reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.08). Intel had a return on equity of 1.82% and a net margin of 1.77%. The business had revenue of $12.80 billion during the quarter, compared to analysts’ expectations of $12.92 billion. During the same quarter in the previous year, the company posted ($0.05) EPS. The company’s quarterly revenue was down .8% on a year-over-year basis. On average, analysts predict that Intel Co. will post 0.07 EPS for the current fiscal year.

Intel Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th will be issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 2.55%. The ex-dividend date is Wednesday, August 7th. Intel’s dividend payout ratio (DPR) is presently 52.08%.

Insider Buying and Selling at Intel

In related news, CEO Patrick P. Gelsinger acquired 12,500 shares of the company’s stock in a transaction on Monday, August 5th. The stock was acquired at an average price of $20.16 per share, with a total value of $252,000.00. Following the acquisition, the chief executive officer now directly owns 37,975 shares of the company’s stock, valued at $765,576. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.04% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on INTC shares. Argus lowered shares of Intel from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. The Goldman Sachs Group decreased their price objective on shares of Intel from $29.00 to $22.00 and set a “sell” rating for the company in a report on Friday, August 2nd. Roth Mkm decreased their price objective on shares of Intel from $35.00 to $25.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Bank of America downgraded shares of Intel from a “neutral” rating to an “underperform” rating and cut their target price for the stock from $35.00 to $23.00 in a research report on Friday, August 2nd. Finally, StockNews.com downgraded shares of Intel from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. Six analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $32.04.

Intel Profile

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.