Notis McConarty Edward lowered its position in Intel Co. (NASDAQ:INTC) by 1.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 138,212 shares of the chip maker’s stock after selling 2,325 shares during the period. Intel comprises about 3.3% of Notis McConarty Edward’s portfolio, making the stock its 6th largest position. Notis McConarty Edward’s holdings in Intel were worth $5,263,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in INTC. Murphy Capital Management Inc. grew its position in Intel by 18.4% during the second quarter. Murphy Capital Management Inc. now owns 31,721 shares of the chip maker’s stock valued at $1,070,000 after buying an additional 4,928 shares during the period. Papp L Roy & Associates boosted its position in Intel by 1.2% during the second quarter. Papp L Roy & Associates now owns 68,065 shares of the chip maker’s stock worth $2,297,000 after purchasing an additional 800 shares during the period. Crescent Grove Advisors LLC bought a new position in Intel during the second quarter worth about $555,000. United Bank boosted its position in Intel by 108.0% during the second quarter. United Bank now owns 43,841 shares of the chip maker’s stock worth $1,479,000 after purchasing an additional 22,765 shares during the period. Finally, Chicago Partners Investment Group LLC boosted its position in Intel by 182.1% during the second quarter. Chicago Partners Investment Group LLC now owns 15,097 shares of the chip maker’s stock worth $530,000 after purchasing an additional 9,746 shares during the period. Institutional investors own 67.54% of the company’s stock.
INTC has been the subject of a number of research reports. Zacks Investment Research upgraded shares of Intel from a “hold” rating to a “buy” rating and set a $42.00 target price for the company in a research report on Friday, September 22nd. Canaccord Genuity increased their target price on shares of Intel from $41.00 to $45.00 and gave the stock a “hold” rating in a research report on Friday, November 17th. Robert W. Baird reiterated an “outperform” rating and set a $45.00 target price on shares of Intel in a research report on Tuesday, September 5th. BMO Capital Markets increased their target price on shares of Intel from $34.00 to $37.00 and gave the stock a “market perform” rating in a research report on Friday, October 27th. Finally, SunTrust Banks reiterated a “hold” rating and set a $43.00 target price (up previously from $39.00) on shares of Intel in a research report on Friday, October 27th. Four analysts have rated the stock with a sell rating, thirteen have given a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the stock. Intel presently has a consensus rating of “Buy” and an average price target of $43.94.
Intel (NASDAQ:INTC) last announced its earnings results on Thursday, October 26th. The chip maker reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.21. The business had revenue of $16.15 billion for the quarter, compared to the consensus estimate of $15.73 billion. Intel had a net margin of 22.31% and a return on equity of 22.65%. Intel’s quarterly revenue was up 2.4% on a year-over-year basis. During the same period last year, the firm posted $0.80 earnings per share. analysts predict that Intel Co. will post 3.25 EPS for the current fiscal year.
In related news, EVP Diane M. Bryant sold 1,639 shares of the firm’s stock in a transaction that occurred on Tuesday, October 24th. The shares were sold at an average price of $40.91, for a total value of $67,051.49. Following the sale, the executive vice president now directly owns 113,086 shares of the company’s stock, valued at $4,626,348.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Stacy J. Smith sold 472,337 shares of the firm’s stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $44.23, for a total transaction of $20,891,465.51. Following the completion of the sale, the insider now directly owns 265,298 shares in the company, valued at $11,734,130.54. The disclosure for this sale can be found here. Insiders sold 1,487,054 shares of company stock worth $65,800,132 over the last ninety days. 0.08% of the stock is currently owned by insiders.
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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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