Hartford Investment Management Co. lessened its holdings in shares of Intel Co. (NASDAQ:INTC – Get Rating) by 2.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 412,316 shares of the chip maker’s stock after selling 12,037 shares during the period. Hartford Investment Management Co.’s holdings in Intel were worth $10,625,000 as of its most recent SEC filing.
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Several other hedge funds and other institutional investors have also recently made changes to their positions in INTC. Cantor Fitzgerald Investment Advisor L.P lifted its stake in Intel by 173.6% in the 1st quarter. Cantor Fitzgerald Investment Advisor L.P now owns 539,976 shares of the chip maker’s stock valued at $26,761,000 after buying an additional 342,649 shares in the last quarter. Axiom Financial Strategies LLC grew its holdings in shares of Intel by 21.6% during the first quarter. Axiom Financial Strategies LLC now owns 5,944 shares of the chip maker’s stock worth $260,000 after buying an additional 1,056 shares in the last quarter. Fairfield Bush & CO. acquired a new position in shares of Intel in the first quarter valued at approximately $142,000. Retirement Income Solutions Inc lifted its stake in shares of Intel by 5.1% during the first quarter. Retirement Income Solutions Inc now owns 6,338 shares of the chip maker’s stock valued at $314,000 after buying an additional 307 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in Intel by 26.9% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,863,459 shares of the chip maker’s stock worth $290,593,000 after acquiring an additional 1,244,247 shares during the last quarter. Institutional investors and hedge funds own 59.48% of the company’s stock.
In related news, CEO Patrick P. Gelsinger purchased 8,830 shares of the company’s stock in a transaction that occurred on Monday, October 31st. The shares were purchased at an average price of $28.16 per share, with a total value of $248,652.80. Following the purchase, the chief executive officer now owns 96,049 shares of the company’s stock, valued at approximately $2,704,739.84. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Lip Bu Tan acquired 1,854 shares of the stock in a transaction on Friday, November 4th. The shares were purchased at an average cost of $27.49 per share, for a total transaction of $50,966.46. Following the transaction, the director now owns 2,354 shares in the company, valued at approximately $64,711.46. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Patrick P. Gelsinger bought 8,830 shares of the firm’s stock in a transaction dated Monday, October 31st. The stock was acquired at an average cost of $28.16 per share, with a total value of $248,652.80. Following the transaction, the chief executive officer now owns 96,049 shares of the company’s stock, valued at $2,704,739.84. The disclosure for this purchase can be found here. Insiders purchased a total of 58,830 shares of company stock valued at $1,646,744 over the last three months. Insiders own 0.02% of the company’s stock.
Analyst Ratings Changes
A number of research analysts have weighed in on INTC shares. Rosenblatt Securities reduced their price target on Intel from $30.00 to $20.00 and set a “sell” rating on the stock in a research note on Friday, October 28th. Bank of America cut their price objective on shares of Intel from $30.00 to $28.00 and set an “underperform” rating on the stock in a report on Friday, October 28th. The Goldman Sachs Group set a $24.00 target price on Intel in a research report on Tuesday, December 13th. Roth Capital dropped their price target on Intel from $40.00 to $30.00 and set a “neutral” rating for the company in a research note on Friday, October 28th. Finally, Cowen began coverage on Intel in a report on Monday, November 21st. They set a “market perform” rating and a $31.00 target price for the company. Nine research analysts have rated the stock with a sell rating, nineteen have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Intel currently has an average rating of “Hold” and an average target price of $32.71.
Intel Price Performance
Shares of NASDAQ INTC traded down $0.18 during midday trading on Monday, reaching $30.11. The company’s stock had a trading volume of 1,342,713 shares, compared to its average volume of 31,724,033. Intel Co. has a one year low of $24.59 and a one year high of $55.77. The company has a market cap of $124.26 billion, a price-to-earnings ratio of 9.26, a price-to-earnings-growth ratio of 2.19 and a beta of 0.77. The company has a 50 day moving average price of $28.41 and a 200 day moving average price of $30.84. The company has a current ratio of 1.77, a quick ratio of 1.31 and a debt-to-equity ratio of 0.37.
Intel (NASDAQ:INTC – Get Rating) last posted its quarterly earnings results on Thursday, October 27th. The chip maker reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.25. The firm had revenue of $15.34 billion for the quarter, compared to analyst estimates of $15.49 billion. Intel had a net margin of 19.13% and a return on equity of 11.67%. On average, equities research analysts expect that Intel Co. will post 1.95 EPS for the current year.
Intel Company Profile
Intel Corporation engages in the design, manufacture, and sale of computer products and technologies worldwide. The company operates through CCG, DCG, IOTG, Mobileye, NSG, PSG, and All Other segments. It offers platform products, such as central processing units and chipsets, and system-on-chip and multichip packages; and non-platform or adjacent products, including accelerators, boards and systems, connectivity products, graphics, and memory and storage products.
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