Summit X LLC lifted its holdings in shares of Intel Co. (NASDAQ:INTC) by 5.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,348 shares of the chip maker’s stock after purchasing an additional 775 shares during the quarter. Summit X LLC’s holdings in Intel were worth $789,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in the company. First Pacific Advisors LP acquired a new position in shares of Intel during the 1st quarter worth approximately $671,000. Clearbridge Investments LLC raised its position in shares of Intel by 0.3% during the 1st quarter. Clearbridge Investments LLC now owns 6,492,287 shares of the chip maker’s stock worth $348,636,000 after purchasing an additional 19,480 shares during the last quarter. GYL Financial Synergies LLC raised its position in shares of Intel by 6.9% during the 1st quarter. GYL Financial Synergies LLC now owns 20,154 shares of the chip maker’s stock worth $1,082,000 after purchasing an additional 1,300 shares during the last quarter. Weiss Asset Management LP acquired a new position in shares of Intel during the 1st quarter worth approximately $203,000. Finally, Merit Financial Group LLC acquired a new position in shares of Intel during the 1st quarter worth approximately $214,000. Institutional investors own 65.93% of the company’s stock.
Shares of NASDAQ INTC traded down $0.31 during trading on Wednesday, hitting $52.34. 810,109 shares of the company traded hands, compared to its average volume of 18,039,618. Intel Co. has a 1 year low of $42.36 and a 1 year high of $59.59. The company has a 50-day moving average price of $50.36 and a 200-day moving average price of $49.54. The firm has a market capitalization of $230.76 billion, a P/E ratio of 11.42, a P/E/G ratio of 1.58 and a beta of 0.91. The company has a quick ratio of 1.04, a current ratio of 1.48 and a debt-to-equity ratio of 0.33.
Intel (NASDAQ:INTC) last announced its quarterly earnings data on Thursday, July 25th. The chip maker reported $1.06 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.89 by $0.17. Intel had a net margin of 28.05% and a return on equity of 28.84%. The company had revenue of $16.51 billion during the quarter, compared to analysts’ expectations of $15.70 billion. During the same period in the previous year, the company earned $1.04 EPS. The business’s quarterly revenue was down 2.7% compared to the same quarter last year. Research analysts predict that Intel Co. will post 4.38 EPS for the current fiscal year.
The business also recently disclosed a — dividend, which will be paid on Sunday, December 1st. Stockholders of record on Thursday, November 7th will be paid a dividend of $0.315 per share. The ex-dividend date of this dividend is Wednesday, November 6th. This represents a dividend yield of 2.4%. Intel’s dividend payout ratio is presently 27.51%.
Several research analysts recently issued reports on the company. Loop Capital assumed coverage on Intel in a research report on Monday, August 12th. They set a “hold” rating and a $50.00 price objective for the company. Cascend Securities restated a “buy” rating and set a $65.00 price objective (up from $55.00) on shares of Intel in a research report on Friday, July 26th. Jefferies Financial Group set a $40.00 price objective on Intel and gave the stock a “sell” rating in a research report on Friday, July 26th. Robert W. Baird set a $65.00 price objective on Intel and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Finally, Atlantic Securities assumed coverage on Intel in a research report on Monday, July 22nd. They set an “underweight” rating and a $38.00 price objective for the company. Eight investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and nineteen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $53.79.
In other news, Chairman Andy D. Bryant sold 13,609 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $51.37, for a total transaction of $699,094.33. Following the completion of the sale, the chairman now directly owns 450,591 shares of the company’s stock, valued at approximately $23,146,859.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Navin Shenoy sold 601 shares of the business’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $51.76, for a total transaction of $31,107.76. Following the sale, the executive vice president now directly owns 53,063 shares of the company’s stock, valued at $2,746,540.88. The disclosure for this sale can be found here. Insiders have sold a total of 41,541 shares of company stock valued at $2,135,306 over the last three months. Corporate insiders own 0.02% of the company’s stock.
Intel Corporation offers computing, networking, data storage, and communication solutions worldwide. It operates through Client Computing Group, Data Center Group, Internet of Things Group, Non-Volatile Memory Solutions Group, Programmable Solutions Group, and All Other segments. The company offers microprocessors, and system-on-chip and multichip packaging products.
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