Mengis Capital Management Inc. Sells 10,275 Shares of Intel Corp. (INTC)
Mengis Capital Management Inc. cut its stake in shares of Intel Corp. (NASDAQ:INTC) by 14.9% during the second quarter, Holdings Channel reports. The firm owned 58,610 shares of the chip maker’s stock after selling 10,275 shares during the period. Intel Corp. makes up about 1.7% of Mengis Capital Management Inc.’s investment portfolio, making the stock its 20th largest position. Mengis Capital Management Inc.’s holdings in Intel Corp. were worth $1,922,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Carnick & Kubik LLC purchased a new stake in Intel Corp. during the first quarter valued at about $100,000. Proficio Capital Partners LLC increased its stake in Intel Corp. by 143.0% in the second quarter. Proficio Capital Partners LLC now owns 3,395 shares of the chip maker’s stock valued at $118,000 after buying an additional 1,998 shares during the period. Financial Management Professionals Inc. increased its stake in Intel Corp. by 18.7% in the second quarter. Financial Management Professionals Inc. now owns 3,960 shares of the chip maker’s stock valued at $129,000 after buying an additional 625 shares during the period. Parasol Investment Management LLC increased its stake in Intel Corp. by 34.3% in the second quarter. Parasol Investment Management LLC now owns 3,990 shares of the chip maker’s stock valued at $131,000 after buying an additional 1,020 shares during the period. Finally, American National Bank increased its stake in Intel Corp. by 103.2% in the second quarter. American National Bank now owns 4,459 shares of the chip maker’s stock valued at $146,000 after buying an additional 2,265 shares during the period. Institutional investors and hedge funds own 64.77% of the company’s stock.
Shares of Intel Corp. (NASDAQ:INTC) traded up 1.30% on Friday, reaching $37.45. 19,123,944 shares of the company traded hands. The company has a 50-day moving average of $36.86 and a 200-day moving average of $33.65. The stock has a market capitalization of $177.18 billion, a price-to-earnings ratio of 18.16 and a beta of 1.09. Intel Corp. has a 1-year low of $27.68 and a 1-year high of $38.36.
Intel Corp. (NASDAQ:INTC) last announced its 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 company earned $13.50 billion during the quarter, compared to the consensus estimate of $13.54 billion. Intel Corp. had a net margin of 17.84% and a return on equity of 19.99%. Intel Corp.’s revenue was up 2.6% compared to the same quarter last year. During the same period last year, the firm earned $0.55 earnings per share. Analysts anticipate that Intel Corp. will post $2.58 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Monday, November 7th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Thursday, November 3rd. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.78%. Intel Corp.’s dividend payout ratio is currently 50.24%.
INTC has been the subject of several recent research reports. Zacks Investment Research upgraded Intel Corp. from a “hold” rating to a “buy” rating and set a $36.00 price target for the company in a research note on Tuesday, June 21st. Argus reaffirmed a “buy” rating and issued a $41.00 price objective on shares of Intel Corp. in a report on Wednesday, June 29th. Vetr raised Intel Corp. from a “hold” rating to a “buy” rating and set a $32.02 price objective for the company in a report on Tuesday, June 28th. Canaccord Genuity lifted their price objective on Intel Corp. from $38.00 to $40.00 and gave the company a “buy” rating in a report on Monday, July 18th. Finally, Brean Capital lifted their price objective on Intel Corp. from $36.00 to $38.00 and gave the company a “buy” rating in a report on Monday, July 18th. Three equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and thirty-two have assigned a buy rating to the company. Intel Corp. currently has an average rating of “Buy” and an average price target of $39.73.
In other Intel Corp. news, EVP Venkata S. M. Renduchintala sold 13,997 shares of the firm’s stock in a transaction on Thursday, July 28th. The shares were sold at an average price of $34.71, for a total value of $485,835.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Brian M. Krzanich sold 67,508 shares of the firm’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 directly owns 420,506 shares of the company’s stock, valued at approximately $15,857,281.26. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by company insiders.
Intel Corp. Company Profile
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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