SkyOak Wealth LLC Grows Position in Intel Co. (NASDAQ:INTC)

SkyOak Wealth LLC grew its position in shares of Intel Co. (NASDAQ:INTC) by 65.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,753 shares of the chip maker’s stock after acquiring an additional 5,849 shares during the quarter. SkyOak Wealth LLC’s holdings in Intel were worth $457,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of INTC. Burkett Financial Services LLC purchased a new position in shares of Intel in the 4th quarter worth approximately $27,000. Frazier Financial Advisors LLC bought a new stake in shares of Intel during the 4th quarter worth $27,000. Tributary Capital Management LLC purchased a new position in shares of Intel in the 1st quarter worth about $27,000. Dixon Mitchell Investment Counsel Inc. bought a new position in Intel during the first quarter valued at about $36,000. Finally, America First Investment Advisors LLC purchased a new stake in Intel during the second quarter worth about $25,000. 64.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

INTC has been the subject of several research analyst reports. New Street Research lowered shares of Intel from a “buy” rating to a “neutral” rating in a research note on Friday, August 2nd. Northland Securities lowered their target price on Intel from $68.00 to $42.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Mizuho lowered Intel from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $36.00 to $22.00 in a report on Thursday, August 8th. Roth Mkm dropped their price objective on shares of Intel from $35.00 to $25.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Finally, The Goldman Sachs Group reduced their target price on shares of Intel from $29.00 to $22.00 and set a “sell” rating for the company in a research note on Friday, August 2nd. Six analysts have rated the stock with a sell rating, twenty-four have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $32.04.

Intel Stock Up 2.7 %

Shares of NASDAQ INTC opened at $21.47 on Wednesday. The firm has a fifty day simple moving average of $24.45 and a two-hundred day simple moving average of $31.29. The firm has a market capitalization of $91.40 billion, a PE ratio of 22.36 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 Co. has a 12 month low of $18.51 and a 12 month high of $51.28.

Intel (NASDAQ:INTC) last announced 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). Intel had a net margin of 1.77% and a return on equity of 1.78%. The business had revenue of $12.80 billion for the quarter, compared to the consensus estimate of $12.92 billion. During the same quarter last year, the firm posted ($0.05) EPS. The business’s quarterly revenue was down .8% on a year-over-year basis. Equities analysts expect that Intel Co. will post -0.47 earnings per share for the current year.

Intel Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 7th were paid a $0.125 dividend. The ex-dividend date was Wednesday, August 7th. This represents a $0.50 annualized dividend and a dividend yield of 2.33%. Intel’s payout ratio is currently 52.08%.

Insider Activity at Intel

In related news, CEO Patrick P. Gelsinger purchased 12,500 shares of Intel stock in a transaction dated Monday, August 5th. The stock was purchased at an average cost of $20.16 per share, for a total transaction of $252,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 37,975 shares of the company’s stock, valued at $765,576. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. 0.04% of the stock is owned by corporate insiders.

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.