State Treasurer State of Michigan trimmed its stake in shares of Intel Co. (NASDAQ:INTC) by 5.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,099,111 shares of the chip maker’s stock after selling 121,700 shares during the quarter. State Treasurer State of Michigan’s holdings in Intel were worth $79,934,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Acrospire Investment Management LLC boosted its position in shares of Intel by 111.8% during the second quarter. Acrospire Investment Management LLC now owns 3,600 shares of the chip maker’s stock valued at $121,000 after purchasing an additional 1,900 shares in the last quarter. Winfield Associates Inc. raised its stake in Intel by 6.0% during the second quarter. Winfield Associates Inc. now owns 4,651 shares of the chip maker’s stock valued at $156,000 after buying an additional 265 shares during the last quarter. Vigilant Capital Management LLC raised its stake in Intel by 22.6% during the first 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 during the last quarter. Burt Wealth Advisors raised its stake in Intel by 236.1% during the second quarter. Burt Wealth Advisors now owns 4,941 shares of the chip maker’s stock valued at $166,000 after buying an additional 3,471 shares during the last quarter. Finally, Family Capital Trust Co raised its stake in Intel by 350.0% during the third quarter. Family Capital Trust Co now owns 4,500 shares of the chip maker’s stock valued at $171,000 after buying an additional 3,500 shares during the last quarter. Institutional investors and hedge funds own 67.54% of the company’s stock.
In other news, CEO Brian M. Krzanich sold 889,878 shares of the stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $44.19, for a total value of $39,323,708.82. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Diane M. Bryant sold 570 shares of the stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $44.49, for a total value of $25,359.30. Following the completion of the transaction, the executive vice president now directly owns 110,850 shares in the company, valued at approximately $4,931,716.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,487,054 shares of company stock worth $65,800,132. Company insiders own 0.08% of the company’s stock.
A number of research analysts have issued reports on the company. Vetr upgraded Intel from a “buy” rating to a “strong-buy” rating and set a $49.90 price objective for the company in a research note on Wednesday. Sanford C. Bernstein set a $34.00 price target on Intel and gave the stock a “sell” rating in a research note on Wednesday. BidaskClub cut Intel from a “buy” rating to a “hold” rating in a research note on Saturday. Wells Fargo & Co restated an “outperform” rating and issued a $50.00 price target (up previously from $45.00) on shares of Intel in a research note on Friday, October 27th. Finally, SunTrust Banks restated a “hold” rating and issued a $43.00 price target (up previously from $39.00) on shares of Intel in a research note on Friday, October 27th. Four investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $44.78.
Intel Co. (NASDAQ INTC) traded down $0.17 during trading hours on Friday, hitting $43.24. The company had a trading volume of 29,906,000 shares, compared to its average volume of 35,030,000. The company has a quick ratio of 1.27, a current ratio of 1.60 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $202,220.00, a P/E ratio of 15.17, a P/E/G ratio of 1.57 and a beta of 1.06. Intel Co. has a 12 month low of $33.23 and a 12 month high of $47.64.
Intel (NASDAQ:INTC) last issued its quarterly earnings data on Thursday, October 26th. The chip maker reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.21. Intel had a return on equity of 22.65% and a net margin of 22.31%. The business had revenue of $16.15 billion for the quarter, compared to the consensus estimate of $15.73 billion. During the same period in the prior year, the business posted $0.80 earnings per share. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. equities research analysts predict that Intel Co. will post 3.25 earnings per share for the current year.
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Intel 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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