Foundation Resource Management Inc. Acquires 1,166 Shares of Intel Co. (NASDAQ:INTC)

Foundation Resource Management Inc. increased its holdings in Intel Co. (NASDAQ:INTC) by 0.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 552,684 shares of the chip maker’s stock after purchasing an additional 1,166 shares during the quarter. Intel makes up 2.0% of Foundation Resource Management Inc.’s investment portfolio, making the stock its 19th biggest holding. Foundation Resource Management Inc.’s holdings in Intel were worth $12,966,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Capital International Investors lifted its position in Intel by 16.0% in 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 in the last quarter. Van ECK Associates Corp raised its stake in shares of Intel by 60.5% in the second quarter. Van ECK Associates Corp now owns 34,591,800 shares of the chip maker’s stock worth $1,071,308,000 after purchasing an additional 13,035,566 shares during the last quarter. Davis Selected Advisers lifted its holdings in shares of Intel by 86.2% in the second quarter. Davis Selected Advisers now owns 12,642,316 shares of the chip maker’s stock valued at $391,533,000 after purchasing an additional 5,851,098 shares in the last quarter. Caxton Associates LP purchased a new position in shares of Intel during the second quarter valued at approximately $162,592,000. Finally, Vanguard Group Inc. raised its position in Intel by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 385,787,907 shares of the chip maker’s stock valued at $19,385,842,000 after buying an additional 4,678,169 shares during the last quarter. Institutional investors and hedge funds own 64.53% of the company’s stock.

Insider Transactions at Intel

In related news, CEO Patrick P. Gelsinger purchased 12,500 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were acquired at an average price 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 in the company, valued at approximately $765,576. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.04% of the company’s stock.

Analysts Set New Price Targets

INTC has been the subject of several analyst reports. Cantor Fitzgerald lowered their target price on shares of Intel from $40.00 to $27.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Bank of America cut shares of Intel from a “neutral” rating to an “underperform” rating and dropped their target price for the company from $35.00 to $23.00 in a research note on Friday, August 2nd. TD Cowen raised shares of Intel to a “hold” rating in a report on Monday, September 16th. Hsbc Global Res downgraded Intel from a “hold” rating to a “moderate sell” rating in a research report on Friday, August 2nd. Finally, Benchmark reaffirmed a “hold” rating on shares of Intel in a research report on Monday, September 23rd. Six analysts have rated the stock with a sell rating, twenty-four have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Intel presently has an average rating of “Hold” and an average price target of $31.96.

Intel Stock Performance

Intel stock opened at $23.56 on Friday. The company has a market capitalization of $100.74 billion, a PE ratio of 102.44 and a beta of 1.03. The firm has a fifty day simple moving average of $21.12 and a two-hundred day simple moving average of $28.87. The company has a quick ratio of 1.24, a current ratio of 1.59 and a debt-to-equity ratio of 0.40. Intel Co. has a twelve month low of $18.51 and a twelve month high of $51.28.

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

Intel Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th were issued a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 2.12%. The ex-dividend date of this dividend was Wednesday, August 7th. Intel’s dividend payout ratio (DPR) is currently 217.40%.

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.