Mirae Asset Global Investments Co. Ltd. Has $114.74 Million Stake in Intel Co. (NASDAQ:INTC)

Mirae Asset Global Investments Co. Ltd. grew its holdings in Intel Co. (NASDAQ:INTC) by 49.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,798,765 shares of the chip maker’s stock after purchasing an additional 1,579,175 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned about 0.11% of Intel worth $114,738,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in Intel by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 389,098,435 shares of the chip maker’s stock valued at $17,186,478,000 after buying an additional 3,310,528 shares during the last quarter. Capital International Investors boosted its position in shares of Intel by 16.0% in 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 during the period. Primecap Management Co. CA grew its stake in shares of Intel by 2.2% in the second quarter. Primecap Management Co. CA now owns 77,822,587 shares of the chip maker’s stock worth $2,410,166,000 after acquiring an additional 1,697,550 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in 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 worth $1,759,811,000 after acquiring an additional 2,457,243 shares during the period. Finally, Legal & General Group Plc raised its stake in Intel by 1.3% during the 2nd quarter. Legal & General Group Plc now owns 37,513,226 shares of the chip maker’s stock valued at $1,161,779,000 after purchasing an additional 487,191 shares during the last quarter. 64.53% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Intel

In related news, CEO Patrick P. Gelsinger bought 12,500 shares of Intel stock in a transaction on Monday, August 5th. The shares were purchased 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 owns 37,975 shares in the company, valued at approximately $765,576. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.04% of the company’s stock.

Analyst Ratings Changes

INTC has been the topic of several research analyst reports. Rosenblatt Securities restated a “sell” rating and issued a $17.00 price target on shares of Intel in a research report on Friday, August 2nd. Morgan Stanley lowered their price target on Intel from $36.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Friday, August 2nd. JPMorgan Chase & Co. cut their price target on Intel from $35.00 to $26.00 and set an “underweight” rating for the company in a report on Friday, August 2nd. Argus lowered Intel from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Finally, Roth Mkm cut their target price on Intel from $35.00 to $25.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Six investment analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $31.15.

Intel Stock Performance

Shares of NASDAQ:INTC opened at $22.68 on Friday. 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 1-year low of $18.51 and a 1-year high of $51.28. The stock has a market capitalization of $96.98 billion, a P/E ratio of 98.61 and a beta of 1.03. The business has a 50-day moving average price of $21.59 and a two-hundred day moving average price of $27.63.

Intel (NASDAQ:INTC) last announced its quarterly earnings data on Thursday, August 1st. The chip maker reported $0.02 earnings per share 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 during the quarter, compared to analyst estimates of $12.92 billion. During the same quarter in the prior year, the company earned ($0.05) earnings per share. The company’s quarterly revenue was down .8% on a year-over-year basis. Equities analysts predict that Intel Co. will post -0.47 earnings per share for the current year.

Intel Dividend Announcement

The business 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 was Wednesday, August 7th. This represents a $0.50 dividend on an annualized basis and a yield of 2.20%. Intel’s dividend payout ratio is presently 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.