Los Angeles Capital Management & Equity Research Inc. reduced its stake in shares of Intel Corp. (NASDAQ:INTC) by 0.9% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,413,795 shares of the chip maker’s stock after selling 13,007 shares during the period. Los Angeles Capital Management & Equity Research Inc.’s holdings in Intel Corp. were worth $46,372,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of the stock. Emerald Acquisition Ltd. purchased a new position in shares of Intel Corp. during the second quarter worth about $295,226,000. Institutional Capital LLC raised its position in shares of Intel Corp. by 360.2% in the first quarter. Institutional Capital LLC now owns 10,182,033 shares of the chip maker’s stock worth $329,388,000 after buying an additional 7,969,512 shares during the last quarter. NN Investment Partners Holdings N.V. purchased a new position in shares of Intel Corp. during the first quarter worth about $132,302,000. Natixis raised its position in shares of Intel Corp. by 1,486.7% in the first quarter. Natixis now owns 3,005,998 shares of the chip maker’s stock worth $97,244,000 after buying an additional 2,816,554 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Intel Corp. by 5.8% in the first quarter. Geode Capital Management LLC now owns 44,204,897 shares of the chip maker’s stock worth $1,427,513,000 after buying an additional 2,414,858 shares during the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.
Intel Corp. (NASDAQ:INTC) traded up 1.64% on Tuesday, reaching $37.90. 4,374,851 shares of the company traded hands. The stock’s 50 day moving average price is $36.91 and its 200 day moving average price is $33.70. Intel Corp. has a one year low of $27.68 and a one year high of $38.36. The company has a market capitalization of $179.30 billion, a PE ratio of 18.38 and a beta of 1.09.
Intel Corp. (NASDAQ:INTC) last announced its quarterly earnings results on Wednesday, July 20th. The chip maker reported $0.59 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.06. The business earned $13.50 billion during the quarter, compared to analysts’ expectations of $13.54 billion. Intel Corp. had a net margin of 17.84% and a return on equity of 19.99%. The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.55 EPS. On average, equities research analysts predict that Intel Corp. will post $2.58 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Monday, November 7th will be given a dividend of $0.26 per share. The ex-dividend date is Thursday, November 3rd. This represents a $1.04 annualized dividend and a yield of 2.79%. Intel Corp.’s payout ratio is currently 50.24%.
A number of equities analysts have issued reports on the company. Citigroup Inc. reaffirmed a “neutral” rating and set a $35.00 price target (up from $31.00) on shares of Intel Corp. in a research note on Thursday, June 30th. Oppenheimer Holdings Inc. reissued a “market perform” rating on shares of Intel Corp. in a research note on Thursday, July 21st. BNP Paribas set a $37.00 price objective on Intel Corp. and gave the stock a “neutral” rating in a research note on Friday, July 22nd. Argus reissued a “buy” rating and set a $41.00 price objective on shares of Intel Corp. in a research note on Monday, July 25th. Finally, Vetr lowered Intel Corp. from a “strong-buy” rating to a “buy” rating and set a $41.20 price objective for the company. in a research note on Wednesday, October 12th. Three equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and thirty-three have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $40.00.
In other Intel Corp. news, Chairman Andy D. Bryant sold 445,095 shares of the company’s stock in a transaction on Monday, July 25th. The shares were sold at an average price of $34.69, for a total value of $15,440,345.55. Following the completion of the transaction, the chairman now directly owns 399,557 shares in the company, valued at approximately $13,860,632.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brian M. Krzanich sold 67,508 shares of the company’s stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $37.71, for a total transaction of $2,545,726.68. Following the completion of the transaction, the chief executive officer now owns 420,506 shares of the company’s stock, valued at $15,857,281.26. The disclosure for this sale can be found here. Company insiders own 0.09% of the company’s stock.
About Intel Corp.
Intel Corporation is engaged in the design and manufacture of digital technology platforms. The Company’s segments include Client Computing Group (CCG), Data Center Group (DCG), Internet of Things Group (IOTG), Software and Services (SSG) and All Other. CCG segment includes platforms designed for notebooks (including Ultrabook devices), 2 in 1 systems, desktops (including all-in-ones and personal computers (PCs)), tablets, phones, wireless and wired connectivity products, and mobile communication components.
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