Stellar Capital Management LLC Boosts Position in Intel Corporation (INTC)
Stellar Capital Management LLC raised its stake in shares of Intel Corporation (NASDAQ:INTC) by 1.9% during the first quarter, Holdings Channel reports. The fund owned 132,516 shares of the chip maker’s stock after buying an additional 2,524 shares during the period. Intel Corporation makes up about 3.6% of Stellar Capital Management LLC’s portfolio, making the stock its 2nd largest position. Stellar Capital Management LLC’s holdings in Intel Corporation were worth $4,780,000 as of its most recent filing with the SEC.
Other hedge funds have also modified their holdings of the company. Farmhouse Investment Management LLC acquired a new stake in shares of Intel Corporation during the first quarter valued at approximately $2,091,000. Saturna Capital CORP boosted its stake in shares of Intel Corporation by 0.4% in the first quarter. Saturna Capital CORP now owns 718,790 shares of the chip maker’s stock valued at $25,927,000 after buying an additional 3,090 shares during the last quarter. Flagship Harbor Advisors LLC boosted its stake in shares of Intel Corporation by 28.0% in the first quarter. Flagship Harbor Advisors LLC now owns 34,182 shares of the chip maker’s stock valued at $1,237,000 after buying an additional 7,474 shares during the last quarter. Baker Avenue Asset Management LP boosted its stake in shares of Intel Corporation by 8.6% in the first quarter. Baker Avenue Asset Management LP now owns 96,588 shares of the chip maker’s stock valued at $3,484,000 after buying an additional 7,658 shares during the last quarter. Finally, Fiduciary Trust Co. boosted its stake in shares of Intel Corporation by 6.7% in the first quarter. Fiduciary Trust Co. now owns 750,975 shares of the chip maker’s stock valued at $27,088,000 after buying an additional 47,146 shares during the last quarter. Institutional investors own 67.50% of the company’s stock.
Shares of Intel Corporation (NASDAQ:INTC) traded down 0.75% during mid-day trading on Friday, reaching $35.87. 19,275,060 shares of the company’s stock were exchanged. The firm has a market cap of $168.55 billion, a P/E ratio of 13.69 and a beta of 1.01. The company has a 50 day moving average price of $34.84 and a 200 day moving average price of $35.72. Intel Corporation has a 52-week low of $33.23 and a 52-week high of $38.45.
Intel Corporation (NASDAQ:INTC) last posted its quarterly earnings results on Thursday, July 27th. The chip maker reported $0.72 EPS for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.04. Intel Corporation had a net margin of 20.60% and a return on equity of 21.86%. The company had revenue of $14.76 billion during the quarter, compared to analyst estimates of $14.39 billion. During the same period in the prior year, the business posted $0.59 EPS. The firm’s revenue was up 9.1% compared to the same quarter last year. Analysts forecast that Intel Corporation will post $3.01 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Monday, August 7th will be issued a dividend of $0.2725 per share. The ex-dividend date of this dividend is Thursday, August 3rd. This represents a $1.09 dividend on an annualized basis and a yield of 3.04%. Intel Corporation’s dividend payout ratio is currently 41.76%.
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Several analysts have commented on the stock. BidaskClub upgraded shares of Intel Corporation from a “hold” rating to a “buy” rating in a research report on Thursday. Goldman Sachs Group, Inc. (The) reiterated a “hold” rating on shares of Intel Corporation in a research report on Wednesday. Vetr cut shares of Intel Corporation from a “strong-buy” rating to a “buy” rating and set a $40.26 target price for the company. in a research report on Tuesday, August 8th. B. Riley reiterated a “buy” rating and set a $46.00 target price on shares of Intel Corporation in a research report on Wednesday, August 2nd. Finally, UBS AG reiterated a “buy” rating and set a $40.00 target price (down previously from $41.00) on shares of Intel Corporation in a research report on Monday, July 31st. Five analysts have rated the stock with a sell rating, sixteen have given a hold rating and twenty-seven have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $40.55.
In related news, insider Venkata S. M. Renduchintala sold 1,424 shares of the company’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $36.40, for a total transaction of $51,833.60. Following the completion of the sale, the insider now directly owns 1,536 shares in the company, valued at approximately $55,910.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Venkata S. M. Renduchintala sold 13,996 shares of the company’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $35.47, for a total transaction of $496,438.12. Following the sale, the insider now owns 1,536 shares of the company’s stock, valued at $54,481.92. The disclosure for this sale can be found here. Insiders have sold a total of 91,921 shares of company stock valued at $3,130,162 over the last quarter. 0.09% of the stock is currently owned by company insiders.
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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