China Universal Asset Management Co. Ltd. Buys 28,642 Shares of Intel Co. (NASDAQ:INTC)

China Universal Asset Management Co. Ltd. lifted its holdings in shares of Intel Co. (NASDAQ:INTC) by 111.9% in the third quarter, Holdings Channel.com reports. The fund owned 54,238 shares of the chip maker’s stock after purchasing an additional 28,642 shares during the period. China Universal Asset Management Co. Ltd.’s holdings in Intel were worth $1,272,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Intel by 0.9% during the first quarter. Vanguard Group Inc. now owns 389,098,435 shares of the chip maker’s stock valued at $17,186,478,000 after acquiring an additional 3,310,528 shares in the last quarter. Capital International Investors raised 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 acquiring an additional 15,475,631 shares in the last quarter. Primecap Management Co. CA raised its holdings in shares of Intel by 2.2% during the second quarter. Primecap Management Co. CA now owns 77,822,587 shares of the chip maker’s stock valued at $2,410,166,000 after acquiring an additional 1,697,550 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Intel by 6.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 39,841,750 shares of the chip maker’s stock valued at $1,759,811,000 after acquiring an additional 2,457,243 shares in the last quarter. Finally, Legal & General Group Plc raised its holdings in shares of Intel by 1.3% during the second quarter. Legal & General Group Plc now owns 37,513,226 shares of the chip maker’s stock valued at $1,161,779,000 after acquiring an additional 487,191 shares in the last quarter. Institutional investors own 64.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on INTC shares. Susquehanna decreased their target price on Intel from $35.00 to $26.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Rosenblatt Securities reiterated a “sell” rating and issued a $17.00 price objective on shares of Intel in a report on Tuesday. Stifel Nicolaus reiterated a “hold” rating and issued a $25.00 price objective (down previously from $28.00) on shares of Intel in a report on Friday, October 25th. TD Cowen upgraded Intel to a “hold” rating in a report on Monday, September 16th. Finally, Bank of America downgraded Intel from a “neutral” rating to an “underperform” rating and decreased their price objective for the stock from $35.00 to $23.00 in a report on Friday, August 2nd. Six analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $30.80.

Insiders Place Their Bets

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 purchased at an average price of $20.16 per share, with a total value of $252,000.00. Following the transaction, the chief executive officer now directly owns 37,975 shares of the company’s stock, valued at $765,576. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.04% of the company’s stock.

Intel Trading Down 0.1 %

Intel stock opened at $22.90 on Wednesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.59 and a quick ratio of 1.24. Intel Co. has a one year low of $18.51 and a one year high of $51.28. The stock has a market capitalization of $97.49 billion, a PE ratio of 23.85 and a beta of 1.03. The business’s fifty day moving average is $21.69 and its 200 day moving average is $27.19.

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). 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 analysts’ expectations of $12.92 billion. During the same period last year, the business earned ($0.05) earnings per share. The company’s quarterly revenue was down .8% on a year-over-year basis. On average, sell-side analysts predict that Intel Co. will post -0.47 EPS for the current year.

Intel Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 7th were given a dividend of $0.125 per share. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $0.50 annualized dividend and a dividend yield of 2.18%. Intel’s dividend payout ratio (DPR) is presently 52.08%.

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.