Kayne Anderson Rudnick Investment Management LLC Grows Position in Intel Co. (NASDAQ:INTC)

Kayne Anderson Rudnick Investment Management LLC boosted its holdings in Intel Co. (NASDAQ:INTC) by 330.4% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 79,643 shares of the chip maker’s stock after buying an additional 61,139 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC’s holdings in Intel were worth $2,467,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of INTC. Orion Portfolio Solutions LLC grew its position in Intel by 3.1% in the 4th quarter. Orion Portfolio Solutions LLC now owns 98,320 shares of the chip maker’s stock worth $4,764,000 after purchasing an additional 2,915 shares during the period. Brookstone Capital Management raised its stake in Intel by 65.2% during the 1st quarter. Brookstone Capital Management now owns 69,096 shares of the chip maker’s stock worth $3,052,000 after acquiring an additional 27,274 shares during the period. NBC Securities Inc. boosted its position in shares of Intel by 2.6% in the first quarter. NBC Securities Inc. now owns 16,681 shares of the chip maker’s stock worth $736,000 after purchasing an additional 418 shares during the period. Red Mountain Financial LLC bought a new stake in shares of Intel during the 4th quarter valued at $859,000. Finally, Cetera Investment Advisers boosted its holdings in Intel by 262.9% in the 1st quarter. Cetera Investment Advisers now owns 787,130 shares of the chip maker’s stock worth $34,768,000 after buying an additional 570,249 shares during the period. Institutional investors own 64.53% of the company’s stock.

Insider Buying and Selling

In other Intel news, CEO Patrick P. Gelsinger purchased 12,500 shares of Intel stock in a transaction dated Monday, August 5th. The stock was acquired at an average price of $20.16 per share, for a total transaction of $252,000.00. Following the acquisition, the chief executive officer now owns 37,975 shares in the company, valued at approximately $765,576. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 0.04% of the stock is owned by insiders.

Analyst Ratings Changes

INTC has been the subject of a number of recent analyst reports. Morgan Stanley dropped their price objective on Intel from $36.00 to $25.00 and set an “equal weight” rating for the company in a research note on Friday, August 2nd. The Goldman Sachs Group lowered their target price on shares of Intel from $29.00 to $22.00 and set a “sell” rating on the stock in a report on Friday, August 2nd. Daiwa America raised shares of Intel to a “hold” rating in a research note on Monday, August 26th. Argus downgraded shares of Intel from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Intel from $38.00 to $27.00 and set a “hold” rating for the company in a report on Friday, August 2nd. Six equities research analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $32.04.

Intel Stock Performance

Shares of NASDAQ:INTC opened at $21.84 on Monday. The firm’s 50 day simple moving average is $23.67 and its 200-day simple moving average is $30.80. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.24 and a current ratio of 1.59. Intel Co. has a one year low of $18.51 and a one year high of $51.28. The firm has a market cap of $92.97 billion, a PE ratio of 22.75 and a beta of 1.03.

Intel (NASDAQ:INTC) last released its quarterly earnings data 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 firm had revenue of $12.80 billion for the quarter, compared to analysts’ expectations of $12.92 billion. Intel had a return on equity of 1.78% and a net margin of 1.77%. During the same quarter in the previous year, the business earned ($0.05) earnings per share. The company’s revenue for the quarter was down .8% compared to the same quarter last year. As a group, equities analysts predict that Intel Co. will post -0.47 EPS for the current year.

Intel Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 7th were issued a $0.125 dividend. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $0.50 annualized dividend and a dividend yield of 2.29%. Intel’s payout ratio is currently 52.08%.

Intel Company 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.