Rand Wealth LLC reduced its position in shares of Intel Corporation (NASDAQ:INTC) by 2.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 312,885 shares of the chip maker’s stock after selling 6,639 shares during the period. Intel Corporation makes up 1.4% of Rand Wealth LLC’s investment portfolio, making the stock its 17th largest position. Rand Wealth LLC’s holdings in Intel Corporation were worth $11,286,000 as of its most recent filing with the SEC.
Several other hedge funds also recently made changes to their positions in INTC. Norges Bank acquired a new stake in Intel Corporation during the fourth quarter worth about $1,684,790,000. Asset Management One Co. Ltd. boosted its stake in Intel Corporation by 705.1% in the fourth quarter. Asset Management One Co. Ltd. now owns 8,295,798 shares of the chip maker’s stock worth $301,186,000 after buying an additional 7,265,442 shares during the last quarter. DnB Asset Management AS boosted its stake in Intel Corporation by 654.3% in the first quarter. DnB Asset Management AS now owns 5,433,478 shares of the chip maker’s stock worth $195,986,000 after buying an additional 4,713,168 shares during the last quarter. Elkfork Partners LLC acquired a new stake in Intel Corporation during the fourth quarter worth about $81,579,000. Finally, Tyers Asset Management LLC acquired a new stake in Intel Corporation during the fourth quarter worth about $59,330,000. 67.35% of the stock is owned by institutional investors.
Shares of Intel Corporation (NASDAQ:INTC) opened at 34.47 on Tuesday. The company’s 50-day moving average price is $35.45 and its 200 day moving average price is $36.07. Intel Corporation has a one year low of $33.23 and a one year high of $38.45. The company has a market cap of $162.32 billion, a P/E ratio of 14.92 and a beta of 1.00.
Intel Corporation (NASDAQ:INTC) last announced its quarterly earnings data on Thursday, April 27th. The chip maker reported $0.66 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.01. The business had revenue of $14.80 billion during the quarter, compared to analysts’ expectations of $14.80 billion. Intel Corporation had a return on equity of 21.48% and a net margin of 18.57%. The firm’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.54 earnings per share. On average, equities research analysts anticipate that Intel Corporation will post $2.86 earnings per share for the current year.
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A number of analysts recently issued reports on INTC shares. Zacks Investment Research cut Intel Corporation from a “hold” rating to a “sell” rating in a research note on Monday. Stifel Nicolaus reissued a “buy” rating and set a $39.00 target price on shares of Intel Corporation in a research note on Friday. Bank of America Corporation cut Intel Corporation from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $42.00 to $38.00 in a research note on Wednesday, June 21st. Credit Suisse Group reissued a “neutral” rating and set a $35.00 target price on shares of Intel Corporation in a research note on Tuesday, July 4th. Finally, Susquehanna Bancshares Inc reaffirmed a “positive” rating on shares of Intel Corporation in a research note on Tuesday, March 28th. Seven equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, twenty-seven have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $40.09.
In other Intel Corporation news, CFO Robert Holmes Swan bought 13,888 shares of Intel Corporation stock in a transaction on Monday, June 5th. The stock was acquired at an average price of $36.31 per share, with a total value of $504,273.28. Following the acquisition, the chief financial officer now owns 8,774 shares in the company, valued at $318,583.94. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Brian M. Krzanich sold 72,173 shares of Intel Corporation stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $33.69, for a total value of $2,431,508.37. Following the completion of the sale, the chief executive officer now directly owns 534,746 shares of the company’s stock, valued at approximately $18,015,592.74. The disclosure for this sale can be found here. Insiders have sold 119,994 shares of company stock valued at $4,166,359 in the last quarter. 0.09% of the stock is 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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