Mirae Asset Global Investments Co. Ltd. Acquires 1,579,175 Shares of Intel Co. (NASDAQ:INTC)

Mirae Asset Global Investments Co. Ltd. raised its holdings in Intel Co. (NASDAQ:INTC) by 49.0% in the third quarter, Holdings Channel reports. The fund owned 4,798,765 shares of the chip maker’s stock after acquiring an additional 1,579,175 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Intel were worth $114,738,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Tributary Capital Management LLC bought a new stake in Intel during the 1st quarter worth approximately $27,000. Dixon Mitchell Investment Counsel Inc. bought a new stake in shares of Intel during the first quarter worth $36,000. America First Investment Advisors LLC acquired a new stake in shares of Intel during the second quarter worth $25,000. Cyrus J. Lawrence LLC acquired a new stake in shares of Intel during the second quarter worth $27,000. Finally, Spartan Fund Management Inc. bought a new stake in Intel in the 2nd quarter valued at $31,000. 64.53% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on INTC shares. New Street Research downgraded Intel from a “buy” rating to a “neutral” rating in a research note on Friday, August 2nd. Barclays cut their target price on Intel from $40.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Friday, August 2nd. JPMorgan Chase & Co. reduced their price target on Intel from $35.00 to $26.00 and set an “underweight” rating for the company in a research report on Friday, August 2nd. Raymond James downgraded shares of Intel from an “outperform” rating to a “market perform” rating in a report on Friday, August 2nd. Finally, Rosenblatt Securities restated a “sell” rating and set a $17.00 target price on shares of Intel in a report on Friday, August 2nd. Six analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $31.15.

Insider Transactions at Intel

In other Intel news, CEO Patrick P. Gelsinger purchased 12,500 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were acquired at an average cost of $20.16 per share, with a total value of $252,000.00. Following the completion of the transaction, the chief executive officer now owns 37,975 shares in the company, valued at $765,576. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.04% of the company’s stock.

Intel Stock Performance

Shares of INTC stock opened at $22.68 on Friday. Intel Co. has a 52 week low of $18.51 and a 52 week high of $51.28. The company has a market capitalization of $96.98 billion, a price-to-earnings ratio of 98.61 and a beta of 1.03. The company has a 50-day simple moving average of $21.59 and a 200 day simple moving average of $27.63. 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 (NASDAQ:INTC) last issued its quarterly earnings data 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). The firm had revenue of $12.80 billion for 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 company’s revenue was down .8% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.05) EPS. On average, sell-side analysts predict that Intel Co. will post -0.47 earnings per share for the current year.

Intel Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th were given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 2.20%. The ex-dividend date was Wednesday, August 7th. Intel’s payout ratio is 217.40%.

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.