Cypress Asset Management Inc. TX lowered its position in Intel Corporation (NASDAQ:INTC) by 15.9% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 109,425 shares of the chip maker’s stock after selling 20,616 shares during the quarter. Cypress Asset Management Inc. TX’s holdings in Intel Corporation were worth $3,692,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently made changes to their positions in INTC. Watermark Asset Management Inc. purchased a new position in Intel Corporation during the 1st quarter valued at about $113,000. Orrstown Financial Services Inc. grew its holdings in Intel Corporation by 96.6% during the 1st quarter. Orrstown Financial Services Inc. now owns 3,725 shares of the chip maker’s stock valued at $134,000 after buying an additional 1,830 shares in the last quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. grew its holdings in Intel Corporation by 53.0% during the 1st quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 4,040 shares of the chip maker’s stock valued at $146,000 after buying an additional 1,400 shares in the last quarter. Vigilant Capital Management LLC grew its holdings in Intel Corporation by 22.6% during the 1st quarter. Vigilant Capital Management LLC now owns 4,373 shares of the chip maker’s stock valued at $158,000 after buying an additional 805 shares in the last quarter. Finally, Farmers National Bank grew its holdings in Intel Corporation by 5.1% during the 1st quarter. Farmers National Bank now owns 4,842 shares of the chip maker’s stock valued at $183,000 after buying an additional 234 shares in the last quarter. 67.09% of the stock is owned by institutional investors.
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A number of research analysts have weighed in on INTC shares. Vetr raised Intel Corporation from a “hold” rating to a “buy” rating and set a $37.01 target price for the company in a report on Monday, May 15th. Macquarie reaffirmed an “outperform” rating and set a $40.00 target price on shares of Intel Corporation in a report on Monday, May 15th. Zacks Investment Research raised Intel Corporation from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a report on Tuesday, May 16th. Canaccord Genuity reaffirmed a “hold” rating on shares of Intel Corporation in a report on Saturday, June 3rd. Finally, Jefferies Group LLC set a $38.00 target price on Intel Corporation and gave the company a “hold” rating in a report on Saturday, June 3rd. Six research analysts have rated the stock with a sell rating, fourteen have given a hold rating, twenty-eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $40.55.
In related news, insider Venkata S. M. Renduchintala sold 13,996 shares of the company’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $35.47, for a total value of $496,438.12. Following the completion of the transaction, the insider now owns 1,536 shares of the company’s stock, valued at approximately $54,481.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Venkata S. M. Renduchintala sold 1,424 shares of the company’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $36.40, for a total value of $51,833.60. Following the completion of the transaction, the insider now directly owns 1,536 shares of the company’s stock, valued at approximately $55,910.40. The disclosure for this sale can be found here. Insiders sold a total of 91,921 shares of company stock valued at $3,130,162 in the last ninety days. 0.08% of the stock is currently owned by insiders.
Intel Corporation (NASDAQ:INTC) traded up 1.440% during mid-day trading on Tuesday, hitting $36.285. The company had a trading volume of 8,145,989 shares. The firm has a market capitalization of $170.50 billion, a P/E ratio of 13.849 and a beta of 1.02. The company has a 50-day moving average price of $35.43 and a 200 day moving average price of $35.51. Intel Corporation has a 12 month low of $33.23 and a 12 month high of $38.45.
Intel Corporation (NASDAQ:INTC) last issued its quarterly earnings data on Thursday, July 27th. The chip maker reported $0.72 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.04. The business had revenue of $14.76 billion during the quarter, compared to analysts’ expectations of $14.39 billion. Intel Corporation had a return on equity of 21.86% and a net margin of 20.60%. The company’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.59 EPS. Equities analysts forecast that Intel Corporation will post $3.01 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Monday, August 7th were issued a $0.2725 dividend. The ex-dividend date of this dividend was Thursday, August 3rd. This represents a $1.09 dividend on an annualized basis and a yield of 3.05%. Intel Corporation’s payout ratio is 41.76%.
Intel Corporation Company Profile
Intel Corporation is engaged in designing and manufacturing products and technologies, such as the cloud. The Company’s segments are Client Computing Group (CCG), Data Center Group (DCG), Internet of Things Group (IOTG), Non-Volatile Memory Solutions Group (NSG), Intel Security Group (ISecG), Programmable Solutions Group (PSG), All Other and New Technology Group (NTG).
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