Sonora Investment Management LLC decreased its stake in Intel Co. (NASDAQ:INTC) by 21.8% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 82,660 shares of the chip maker’s stock after selling 23,080 shares during the quarter. Sonora Investment Management LLC’s holdings in Intel were worth $4,118,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of the company. BlackRock Inc. increased its holdings in shares of Intel by 2.6% in the 3rd quarter. BlackRock Inc. now owns 320,571,576 shares of the chip maker’s stock worth $16,599,197,000 after buying an additional 8,155,998 shares during the last quarter. FMR LLC increased its holdings in shares of Intel by 39.2% in the 2nd quarter. FMR LLC now owns 29,092,410 shares of the chip maker’s stock worth $1,740,598,000 after buying an additional 8,197,324 shares during the last quarter. Morgan Stanley increased its holdings in shares of Intel by 5.1% in the 3rd quarter. Morgan Stanley now owns 28,764,845 shares of the chip maker’s stock worth $1,489,443,000 after buying an additional 1,404,805 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Intel by 4.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 23,938,003 shares of the chip maker’s stock worth $1,239,509,000 after buying an additional 968,402 shares during the last quarter. Finally, UBS Asset Management Americas Inc. increased its holdings in shares of Intel by 4.5% in the 3rd quarter. UBS Asset Management Americas Inc. now owns 19,278,079 shares of the chip maker’s stock worth $998,219,000 after buying an additional 832,767 shares during the last quarter. 60.73% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts have issued reports on INTC shares. Credit Suisse Group restated an “outperform” rating and set a $80.00 price target (up from $65.00) on shares of Intel in a research report on Wednesday. BMO Capital Markets raised Intel from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $50.00 to $70.00 in a research note on Thursday. The Goldman Sachs Group boosted their target price on Intel from $38.00 to $42.00 and gave the company a “sell” rating in a research note on Monday, December 14th. Bank of America lowered Intel to a “sell” rating and set a $45.00 target price for the company. in a research note on Tuesday, December 15th. Finally, Atlantic Securities raised Intel from an “underweight” rating to a “neutral” rating and boosted their target price for the company from $36.00 to $55.00 in a research note on Thursday. Eleven research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eighteen have given a buy rating to the company’s stock. Intel currently has a consensus rating of “Hold” and a consensus target price of $59.62.
Intel (NASDAQ:INTC) last released its quarterly earnings results on Thursday, October 22nd. The chip maker reported $1.11 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.01. The firm had revenue of $18.33 billion for the quarter, compared to analysts’ expectations of $18.26 billion. Intel had a return on equity of 29.44% and a net margin of 28.10%. The company’s revenue was down 4.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.42 EPS. Equities research analysts anticipate that Intel Co. will post 4.89 EPS for the current year.
In related news, CEO Robert Holmes Swan acquired 8,021 shares of the business’s stock in a transaction that occurred on Wednesday, October 28th. The stock was bought at an average cost of $44.96 per share, for a total transaction of $360,624.16. Following the purchase, the chief executive officer now owns 309,844 shares in the company, valued at approximately $13,930,586.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Kevin Thomas Mcbride sold 589 shares of the business’s stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $44.96, for a total value of $26,481.44. Following the transaction, the vice president now owns 14,486 shares of the company’s stock, valued at $651,290.56. The disclosure for this sale can be found here. Insiders own 0.04% of the company’s stock.
Intel Corporation designs, manufactures, and sells essential technologies for the cloud, smart, and connected devices worldwide. The company operates through DCG, IOTG, Mobileye, NSG, PSG, CCG, 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 comprising accelerators, boards and systems, connectivity products, and memory and storage products.
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