Granite Investment Partners LLC cut its stake in shares of Intel Corporation (NASDAQ:INTC) by 60.1% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 82,664 shares of the chip maker’s stock after selling 124,505 shares during the period. Granite Investment Partners LLC’s holdings in Intel Corporation were worth $2,789,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Summit Asset Management LLC raised its stake in Intel Corporation by 0.7% during the 1st quarter. Summit Asset Management LLC now owns 6,281 shares of the chip maker’s stock valued at $227,000 after acquiring an additional 46 shares during the last quarter. Conservest Capital Advisors Inc. raised its stake in Intel Corporation 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 last quarter. Hudock Capital Group LLC raised its stake in Intel Corporation by 0.4% during the 1st quarter. Hudock Capital Group LLC now owns 12,570 shares of the chip maker’s stock valued at $453,000 after acquiring an additional 53 shares during the last quarter. Bank of Stockton raised its stake in Intel Corporation by 0.4% during the 2nd quarter. Bank of Stockton now owns 16,321 shares of the chip maker’s stock valued at $550,000 after acquiring an additional 72 shares during the last quarter. Finally, Benin Management CORP raised its stake in Intel Corporation by 0.3% during the 2nd quarter. Benin Management CORP now owns 26,055 shares of the chip maker’s stock valued at $879,000 after acquiring an additional 84 shares during the last quarter. 67.07% of the stock is owned by hedge funds and other institutional investors.
Intel Corporation (INTC) opened at $46.34 on Friday. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.60 and a quick ratio of 1.27. The company has a market cap of $220.43 billion, a P/E ratio of 14.81, a P/E/G ratio of 1.72 and a beta of 1.09.
Intel Corporation (NASDAQ:INTC) last released 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 during the quarter, compared to the consensus estimate of $15.73 billion. Intel Corporation had a net margin of 22.31% and a return on equity of 22.65%. The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.80 earnings per share. research analysts forecast that Intel Corporation will post 3.25 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Investors 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 2.35%. The ex-dividend date is Monday, November 6th. Intel Corporation’s dividend payout ratio (DPR) is currently 38.11%.
Several analysts have commented on INTC shares. Zacks Investment Research downgraded Intel Corporation from a “hold” rating to a “sell” rating in a research note on Monday, July 17th. Credit Suisse Group reissued an “outperform” rating on shares of Intel Corporation in a research note on Thursday, August 31st. Needham & Company LLC reissued a “buy” rating and set a $43.00 target price on shares of Intel Corporation in a research note on Wednesday, July 12th. Stifel Nicolaus increased their target price on Intel Corporation from $41.00 to $46.00 and gave the stock a “buy” rating in a research note on Friday, October 20th. Finally, BidaskClub downgraded Intel Corporation from a “hold” rating to a “sell” rating in a research note on Friday, August 25th. Five analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-seven have given a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $43.00.
In other news, insider Venkata S. M. Renduchintala sold 1,424 shares of Intel Corporation stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $36.40, for a total value of $51,833.60. Following the completion of the transaction, the insider now owns 1,536 shares of the company’s stock, valued at approximately $55,910.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director David B. Yoffie sold 30,000 shares of Intel Corporation stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $44.93, for a total transaction of $1,347,900.00. Following the completion of the transaction, the director now directly owns 50,005 shares of the company’s stock, valued at approximately $2,246,724.65. The disclosure for this sale can be found here. In the last ninety days, insiders sold 659,036 shares of company stock valued at $28,858,170. 0.08% of the stock is owned by 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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