IFM Investors Pty Ltd grew its stake in Intel Co. (NASDAQ:INTC) by 16.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 409,797 shares of the chip maker’s stock after purchasing an additional 58,175 shares during the period. Intel comprises approximately 0.6% of IFM Investors Pty Ltd’s investment portfolio, making the stock its 25th largest position. IFM Investors Pty Ltd’s holdings in Intel were worth $20,416,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently bought and sold shares of INTC. Baron Financial Group LLC bought a new position in Intel in the 3rd quarter valued at approximately $34,000. Holloway Wealth Management LLC bought a new stake in shares of Intel in the 3rd quarter valued at $41,000. Demars Financial Group LLC bought a new stake in shares of Intel in the 2nd quarter valued at $43,000. Grace Capital acquired a new stake in Intel in the 3rd quarter valued at $53,000. Finally, NuWave Investment Management LLC grew its position in Intel by 400.0% in the 4th quarter. NuWave Investment Management LLC now owns 1,205 shares of the chip maker’s stock valued at $60,000 after purchasing an additional 964 shares during the period. Institutional investors own 60.73% of the company’s stock.
A number of equities analysts have issued reports on INTC shares. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Intel from $60.00 to $55.00 and set a “hold” rating on the stock in a report on Friday, October 23rd. BMO Capital Markets raised shares of Intel from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $50.00 to $70.00 in a report on Thursday. Credit Suisse Group reiterated an “outperform” rating and set a $80.00 target price (up from $65.00) on shares of Intel in a research note on Wednesday. Mizuho lowered their target price on Intel from $63.00 to $60.00 and set a “buy” rating on the stock in a research note on Friday, October 23rd. Finally, Rosenblatt Securities reiterated a “sell” rating and set a $40.00 target price (down from $45.00) on shares of Intel in a research note on Friday, October 23rd. Eleven research analysts have rated the stock with a sell rating, sixteen have given a hold rating and eighteen have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $59.62.
Intel (NASDAQ:INTC) last released its quarterly earnings data on Thursday, October 22nd. The chip maker reported $1.11 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.10 by $0.01. Intel had a return on equity of 29.44% and a net margin of 28.10%. The business had revenue of $18.33 billion for the quarter, compared to the consensus estimate of $18.26 billion. During the same quarter in the previous year, the company posted $1.42 EPS. The company’s revenue was down 4.5% compared to the same quarter last year. As a group, analysts anticipate that Intel Co. will post 4.89 EPS for the current year.
In other news, VP Kevin Thomas Mcbride sold 589 shares of Intel stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $44.96, for a total value of $26,481.44. Following the completion of the transaction, the vice president now owns 14,486 shares in the company, valued at approximately $651,290.56. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Navin Shenoy sold 2,848 shares of Intel stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $44.96, for a total value of $128,046.08. Following the completion of the transaction, the executive vice president now owns 72,272 shares of the company’s stock, valued at approximately $3,249,349.12. The disclosure for this sale can be found here. 0.04% of the stock is currently owned by insiders.
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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