Sandhill Capital Partners LLC Reduces Holdings in Intel Co. (NASDAQ:INTC)

Sandhill Capital Partners LLC decreased its position in Intel Co. (NASDAQ:INTC) by 2.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,600 shares of the chip maker’s stock after selling 599 shares during the period. Sandhill Capital Partners LLC’s holdings in Intel were worth $1,286,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Intel by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 381,109,738 shares of the chip maker’s stock worth $13,548,451,000 after acquiring an additional 1,624,453 shares during the last quarter. Primecap Management Co. CA increased its position in shares of Intel by 6.0% in the 3rd quarter. Primecap Management Co. CA now owns 74,762,291 shares of the chip maker’s stock valued at $2,657,799,000 after purchasing an additional 4,226,790 shares during the last quarter. Northern Trust Corp increased its position in shares of Intel by 3.7% in the 3rd quarter. Northern Trust Corp now owns 46,003,776 shares of the chip maker’s stock valued at $1,635,434,000 after purchasing an additional 1,626,127 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Intel by 18.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 38,720,686 shares of the chip maker’s stock valued at $1,376,520,000 after purchasing an additional 6,064,950 shares during the last quarter. Finally, Invesco Ltd. increased its position in shares of Intel by 13.4% in the 3rd quarter. Invesco Ltd. now owns 35,788,068 shares of the chip maker’s stock valued at $1,272,266,000 after purchasing an additional 4,222,381 shares during the last quarter. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Intel Stock Performance

INTC stock traded up $0.61 during trading on Thursday, hitting $35.11. 66,064,457 shares of the company’s stock traded hands, compared to its average volume of 47,235,727. The company has a quick ratio of 1.15, a current ratio of 1.54 and a debt-to-equity ratio of 0.43. Intel Co. has a 52 week low of $26.85 and a 52 week high of $51.28. The stock has a fifty day moving average price of $41.29 and a two-hundred day moving average price of $42.30. The stock has a market capitalization of $148.45 billion, a price-to-earnings ratio of 89.03, a price-to-earnings-growth ratio of 3.08 and a beta of 1.00.

Intel (NASDAQ:INTC) last released its quarterly earnings results on Thursday, January 25th. The chip maker reported $0.54 EPS for the quarter, topping the consensus estimate of $0.27 by $0.27. The business had revenue of $15.40 billion during the quarter, compared to analyst estimates of $15.16 billion. Intel had a net margin of 3.11% and a return on equity of 1.64%. The company’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.10 earnings per share. As a group, equities analysts anticipate that Intel Co. will post 0.61 EPS for the current fiscal year.

Analysts Set New Price Targets

INTC has been the topic of a number of recent analyst reports. Wedbush reaffirmed a “neutral” rating and issued a $40.00 target price on shares of Intel in a research report on Wednesday, April 17th. Evercore ISI began coverage on shares of Intel in a research report on Tuesday, April 16th. They set an “in-line” rating and a $40.00 price objective on the stock. Wells Fargo & Company lowered their price objective on shares of Intel from $48.00 to $43.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 9th. Benchmark reissued a “buy” rating and set a $62.00 price objective on shares of Intel in a research report on Wednesday, April 3rd. Finally, Needham & Company LLC reissued a “hold” rating on shares of Intel in a research report on Friday, January 26th. Four investment analysts have rated the stock with a sell rating, twenty have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $42.38.

Insider Transactions at Intel

In related news, CEO Patrick P. Gelsinger bought 2,800 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The stock was purchased at an average price of $42.74 per share, for a total transaction of $119,672.00. Following the transaction, the chief executive officer now directly owns 31,275 shares of the company’s stock, valued at approximately $1,336,693.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Intel news, CEO Patrick P. Gelsinger purchased 3,000 shares of the business’s stock in a transaction on Monday, January 29th. The stock was bought at an average cost of $43.36 per share, with a total value of $130,080.00. Following the acquisition, the chief executive officer now owns 28,475 shares of the company’s stock, valued at $1,234,676. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Patrick P. Gelsinger purchased 2,800 shares of Intel stock in a transaction dated Thursday, February 1st. The stock was bought at an average cost of $42.74 per share, with a total value of $119,672.00. Following the completion of the transaction, the chief executive officer now directly owns 31,275 shares of the company’s stock, valued at $1,336,693.50. The disclosure for this purchase can be found here. Insiders own 0.04% of the company’s stock.

About Intel

Intel Corporation designs, develops, manufactures, markets, and sells computing and related products and services worldwide. It operates through Client Computing Group, Data Center and AI, Network and Edge, Mobileye, and Intel Foundry Services segments. The company's products portfolio comprises central processing units and chipsets, system-on-chips (SoCs), and multichip packages; mobile and desktop processors; hardware products comprising graphics processing units (GPUs), domain-specific accelerators, and field programmable gate arrays (FPGAs); and memory and storage, connectivity and networking, and other semiconductor products.