Thompson Investment Management Inc. raised its stake in Intel Co. (NASDAQ:INTC) by 7.1% during the third quarter, Holdings Channel reports. The firm owned 118,716 shares of the chip maker’s stock after purchasing an additional 7,902 shares during the period. Thompson Investment Management Inc.’s holdings in Intel were worth $5,614,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Bessemer Group Inc. lifted its holdings in shares of Intel by 16.1% during the 3rd quarter. Bessemer Group Inc. now owns 172,528 shares of the chip maker’s stock valued at $8,158,000 after acquiring an additional 23,986 shares in the last quarter. Merriman Wealth Management LLC lifted its holdings in shares of Intel by 67.4% during the 3rd quarter. Merriman Wealth Management LLC now owns 16,030 shares of the chip maker’s stock valued at $758,000 after acquiring an additional 6,453 shares in the last quarter. Sompo Japan Nipponkoa Asset Management CO. LTD. acquired a new position in shares of Intel during the 3rd quarter valued at $1,493,000. Cadence Bank NA lifted its holdings in shares of Intel by 6.1% during the 3rd quarter. Cadence Bank NA now owns 82,823 shares of the chip maker’s stock valued at $3,917,000 after acquiring an additional 4,772 shares in the last quarter. Finally, Heritage Investors Management Corp lifted its holdings in shares of Intel by 1.0% during the 3rd quarter. Heritage Investors Management Corp now owns 641,111 shares of the chip maker’s stock valued at $30,318,000 after acquiring an additional 6,349 shares in the last quarter. Institutional investors own 66.38% of the company’s stock.
Shares of NASDAQ INTC traded up $0.26 during midday trading on Monday, hitting $49.10. The company’s stock had a trading volume of 243,590 shares, compared to its average volume of 28,760,524. Intel Co. has a 1-year low of $42.04 and a 1-year high of $57.60. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.30 and a current ratio of 1.73. The firm has a market capitalization of $228.49 billion, a PE ratio of 10.72, a price-to-earnings-growth ratio of 1.29 and a beta of 0.74.
Intel (NASDAQ:INTC) last posted its quarterly earnings results on Thursday, January 24th. The chip maker reported $1.28 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.22 by $0.06. Intel had a net margin of 29.72% and a return on equity of 30.08%. The business had revenue of $18.66 billion during the quarter, compared to analyst estimates of $19.02 billion. During the same period in the previous year, the business posted $1.08 EPS. The company’s quarterly revenue was up 9.4% on a year-over-year basis. Equities analysts forecast that Intel Co. will post 4.5 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Thursday, February 7th will be issued a $0.315 dividend. The ex-dividend date is Wednesday, February 6th. This is a positive change from Intel’s previous quarterly dividend of $0.30. This represents a $1.26 annualized dividend and a dividend yield of 2.57%. Intel’s payout ratio is 27.51%.
Intel declared that its board has initiated a share repurchase plan on Thursday, November 15th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the chip maker to purchase up to 6.8% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.
INTC has been the topic of several analyst reports. B. Riley lifted their price target on shares of Intel from $56.00 to $58.00 and gave the stock a “buy” rating in a research note on Friday, October 26th. Nomura lifted their price target on shares of Intel from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, October 26th. Roth Capital dropped their price target on shares of Intel from $65.00 to $60.00 and set a “buy” rating on the stock in a research note on Friday, October 26th. Needham & Company LLC reaffirmed a “buy” rating and set a $57.00 price target (down previously from $60.00) on shares of Intel in a research note on Friday, October 26th. Finally, Macquarie reaffirmed a “buy” rating and set a $60.00 price target on shares of Intel in a research note on Friday, October 19th. Six equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eighteen have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $53.76.
In other Intel news, EVP Navin Shenoy sold 1,626 shares of the business’s stock in a transaction dated Monday, February 4th. The shares were sold at an average price of $48.62, for a total transaction of $79,056.12. Following the completion of the transaction, the executive vice president now directly owns 51,913 shares of the company’s stock, valued at approximately $2,524,010.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Robert Holmes Swan bought 5,117 shares of Intel stock in a transaction on Thursday, November 29th. The shares were purchased at an average cost of $48.30 per share, with a total value of $247,151.10. Following the completion of the purchase, the chief executive officer now directly owns 131,839 shares in the company, valued at $6,367,823.70. The disclosure for this purchase can be found here. Insiders sold a total of 18,039 shares of company stock valued at $870,162 over the last ninety days. Company insiders own 0.03% of the company’s stock.
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Intel Corporation offers computing, networking, data storage, and communication solutions worldwide. It operates through Client Computing Group, Data Center Group, Internet of Things Group, Non-Volatile Memory Solutions Group, Programmable Solutions Group, and All Other segments. The company offers microprocessors, and system-on-chip and multichip packaging products.
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