Palouse Capital Management Inc. Sells 519 Shares of Intel Corporation (INTC)
Palouse Capital Management Inc. decreased its stake in shares of Intel Corporation (NASDAQ:INTC) by 0.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 135,022 shares of the chip maker’s stock after selling 519 shares during the quarter. Intel Corporation comprises about 1.7% of Palouse Capital Management Inc.’s investment portfolio, making the stock its 26th biggest holding. Palouse Capital Management Inc.’s holdings in Intel Corporation were worth $4,556,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently made changes to their positions in the business. Schwab Charles Investment Management Inc. raised its stake in shares of Intel Corporation by 3.3% in the first quarter. Schwab Charles Investment Management Inc. now owns 23,861,041 shares of the chip maker’s stock worth $860,668,000 after purchasing an additional 764,551 shares during the last quarter. Fisher Asset Management LLC raised its stake in shares of Intel Corporation by 3.1% in the second quarter. Fisher Asset Management LLC now owns 20,791,355 shares of the chip maker’s stock worth $701,500,000 after purchasing an additional 623,698 shares during the last quarter. Sanders Capital LLC raised its stake in shares of Intel Corporation by 2.2% in the first quarter. Sanders Capital LLC now owns 14,736,874 shares of the chip maker’s stock worth $545,383,000 after purchasing an additional 316,800 shares during the last quarter. Russell Investments Group Ltd. raised its stake in shares of Intel Corporation by 7.6% in the second quarter. Russell Investments Group Ltd. now owns 9,761,964 shares of the chip maker’s stock worth $329,427,000 after purchasing an additional 686,808 shares during the last quarter. Finally, DnB Asset Management AS raised its stake in shares of Intel Corporation by 72.2% in the second quarter. DnB Asset Management AS now owns 9,355,948 shares of the chip maker’s stock worth $315,670,000 after purchasing an additional 3,922,470 shares during the last quarter. Institutional investors and hedge funds own 67.02% of the company’s stock.
In other Intel Corporation news, EVP Diane M. Bryant sold 1,639 shares of the business’s stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $34.65, for a total value of $56,791.35. Following the sale, the executive vice president now owns 114,542 shares of the company’s stock, valued at $3,968,880.30. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Brian M. Krzanich sold 61,860 shares of the business’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $38.74, for a total value of $2,396,456.40. Following the completion of the sale, the chief executive officer now directly owns 543,948 shares in the company, valued at approximately $21,072,545.52. The disclosure for this sale can be found here. In the last three months, insiders sold 81,608 shares of company stock worth $3,095,110. 0.08% of the stock is owned by corporate insiders.
Several research firms have recently weighed in on INTC. B. Riley restated a “buy” rating and issued a $46.00 price target on shares of Intel Corporation in a research note on Friday, July 28th. Vetr upgraded Intel Corporation from a “buy” rating to a “strong-buy” rating and set a $49.90 price target for the company in a research note on Tuesday. Bank of America Corporation cut Intel Corporation from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $42.00 to $38.00 in a research note on Wednesday, June 21st. Summit Redstone restated a “hold” rating on shares of Intel Corporation in a research note on Saturday, July 22nd. Finally, BMO Capital Markets restated a “market perform” rating and issued a $34.00 price target on shares of Intel Corporation in a research note on Sunday, July 30th. Five equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. Intel Corporation has an average rating of “Hold” and an average price target of $40.91.
Intel Corporation (NASDAQ:INTC) opened at 39.76 on Tuesday. The company has a 50-day moving average price of $37.23 and a 200 day moving average price of $35.94. Intel Corporation has a 52 week low of $33.23 and a 52 week high of $39.95. The company has a market cap of $186.83 billion, a PE ratio of 15.18 and a beta of 1.07.
Intel Corporation (NASDAQ:INTC) last announced its earnings results on Thursday, July 27th. The chip maker reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.04. The company had revenue of $14.76 billion for the quarter, compared to analyst estimates of $14.39 billion. Intel Corporation had a return on equity of 21.86% and a net margin of 20.60%. The firm’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.59 earnings per share. On average, equities research analysts forecast that Intel Corporation will post $3.01 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Tuesday, November 7th will be given a $0.2725 dividend. This represents a $1.09 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date is Monday, November 6th. 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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