Beech Hill Advisors Inc. grew its stake in shares of Intel Co. (NASDAQ:INTC) by 1.8% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 141,945 shares of the chip maker’s stock after acquiring an additional 2,475 shares during the quarter. Intel comprises about 2.9% of Beech Hill Advisors Inc.’s portfolio, making the stock its 10th biggest holding. Beech Hill Advisors Inc.’s holdings in Intel were worth $5,405,000 as of its most recent filing with the SEC.
Several other large investors also recently added to or reduced their stakes in the company. Jackson Grant Investment Advisers Inc. lifted its position in shares of Intel by 0.4% during the 2nd quarter. Jackson Grant Investment Advisers Inc. now owns 7,785 shares of the chip maker’s stock valued at $263,000 after acquiring an additional 29 shares during the period. Conservest Capital Advisors Inc. lifted its position in shares of Intel by 0.6% during the 2nd quarter. Conservest Capital Advisors Inc. now owns 8,953 shares of the chip maker’s stock valued at $302,000 after acquiring an additional 51 shares during the period. Paradigm Financial Advisors LLC lifted its position in shares of Intel by 0.3% during the 2nd quarter. Paradigm Financial Advisors LLC now owns 26,264 shares of the chip maker’s stock worth $886,000 after buying an additional 67 shares during the last quarter. Bank of Stockton lifted its position in shares of Intel by 0.4% during the 2nd quarter. Bank of Stockton now owns 16,321 shares of the chip maker’s stock worth $550,000 after buying an additional 72 shares during the last quarter. Finally, Marathon Capital Management lifted its position in shares of Intel by 0.7% during the 2nd quarter. Marathon Capital Management now owns 10,986 shares of the chip maker’s stock worth $371,000 after buying an additional 80 shares during the last quarter. Hedge funds and other institutional investors own 67.54% of the company’s stock.
Several analysts recently weighed in on INTC shares. Stifel Nicolaus upped their price objective on Intel from $41.00 to $46.00 and gave the stock a “buy” rating in a research report on Friday, October 20th. Zacks Investment Research upgraded Intel from a “hold” rating to a “buy” rating and set a $42.00 price objective for the company in a research report on Friday, September 22nd. Barclays restated a “buy” rating and set a $55.00 price objective on shares of Intel in a research report on Monday, November 13th. Vetr upgraded Intel from a “buy” rating to a “strong-buy” rating and set a $44.36 price objective for the company in a research report on Wednesday, October 11th. Finally, Instinet upped their price objective on Intel to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, December 5th. Four equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, twenty-eight have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $44.65.
Intel (NASDAQ:INTC) last issued its quarterly earnings results on Thursday, October 26th. The chip maker reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.21. The company had revenue of $16.15 billion during the quarter, compared to analysts’ expectations of $15.73 billion. Intel had a return on equity of 22.65% and a net margin of 22.31%. The business’s quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.80 earnings per share. sell-side analysts expect that Intel Co. will post 3.25 EPS for the current year.
In other news, Chairman Andy D. Bryant sold 89,087 shares of the stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $44.80, for a total value of $3,991,097.60. Following the completion of the sale, the chairman now owns 428,789 shares of the company’s stock, valued at $19,209,747.20. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Diane M. Bryant sold 570 shares of the stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $44.49, for a total value of $25,359.30. Following the completion of the sale, the executive vice president now directly owns 110,850 shares of the company’s stock, valued at approximately $4,931,716.50. The disclosure for this sale can be found here. In the last three months, insiders sold 1,487,054 shares of company stock valued at $65,800,132. Insiders own 0.08% of the company’s stock.
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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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