Private Ocean LLC Boosts Holdings in Intel Co. (NASDAQ:INTC)

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Private Ocean LLC boosted its position in shares of Intel Co. (NASDAQ:INTC) by 13.8% in the third quarter, HoldingsChannel reports. The fund owned 1,650 shares of the chip maker’s stock after purchasing an additional 200 shares during the quarter. Private Ocean LLC’s holdings in Intel were worth $86,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the stock. Karp Capital Management Corp lifted its position in Intel by 2.8% during the third quarter. Karp Capital Management Corp now owns 48,035 shares of the chip maker’s stock valued at $2,475,000 after acquiring an additional 1,291 shares during the last quarter. Bourgeon Capital Management LLC purchased a new stake in Intel during the third quarter valued at approximately $62,000. Alps Advisors Inc. lifted its position in Intel by 53.8% during the third quarter. Alps Advisors Inc. now owns 33,662 shares of the chip maker’s stock valued at $1,735,000 after acquiring an additional 11,777 shares during the last quarter. CNB Bank lifted its position in Intel by 6.8% during the third quarter. CNB Bank now owns 25,302 shares of the chip maker’s stock valued at $1,304,000 after acquiring an additional 1,615 shares during the last quarter. Finally, New England Research & Management Inc. lifted its position in Intel by 1.2% during the third quarter. New England Research & Management Inc. now owns 61,662 shares of the chip maker’s stock valued at $3,177,000 after acquiring an additional 725 shares during the last quarter. 67.21% of the stock is owned by institutional investors.

INTC has been the subject of a number of analyst reports. Jefferies Financial Group set a $40.00 target price on shares of Intel and gave the company a “sell” rating in a research report on Friday, July 26th. ValuEngine cut shares of Intel from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Sanford C. Bernstein reaffirmed a “sell” rating and issued a $42.00 price target on shares of Intel in a report on Friday, October 25th. Cascend Securities reaffirmed a “buy” rating and issued a $65.00 price target (up previously from $55.00) on shares of Intel in a report on Friday, July 26th. Finally, Robert W. Baird raised their price target on shares of Intel from $65.00 to $70.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Nine equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $55.81.

Shares of NASDAQ:INTC traded up $0.22 during midday trading on Friday, reaching $58.27. The company’s stock had a trading volume of 11,888,800 shares, compared to its average volume of 22,595,813. The company has a quick ratio of 0.85, a current ratio of 1.20 and a debt-to-equity ratio of 0.32. Intel Co. has a twelve month low of $42.86 and a twelve month high of $59.59. The firm has a market capitalization of $250.34 billion, a PE ratio of 12.72, a P/E/G ratio of 1.66 and a beta of 0.93. The stock has a fifty day moving average of $52.89 and a 200 day moving average of $49.43.

Intel (NASDAQ:INTC) last posted its quarterly earnings results on Thursday, October 24th. The chip maker reported $1.42 EPS for the quarter, topping the consensus estimate of $1.24 by $0.18. Intel had a net margin of 27.46% and a return on equity of 28.28%. The company had revenue of $19.19 billion during the quarter, compared to analysts’ expectations of $18.07 billion. During the same quarter in the previous year, the business posted $1.40 EPS. The firm’s revenue was up .1% on a year-over-year basis. Sell-side analysts anticipate that Intel Co. will post 4.61 earnings per share 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 given 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%.

Intel announced that its Board of Directors has authorized a stock repurchase program on Thursday, October 24th that authorizes the company to buyback $20.00 billion in shares. This buyback authorization authorizes the chip maker to buy up to 8.7% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its shares are undervalued.

In other news, Director Frank D. Yeary sold 2,509 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $46.86, for a total transaction of $117,571.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Navin Shenoy sold 1,404 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $55.94, for a total transaction of $78,539.76. Following the sale, the executive vice president now owns 58,168 shares of the company’s stock, valued at approximately $3,253,917.92. The disclosure for this sale can be found here. Insiders have sold a total of 17,482 shares of company stock valued at $911,044 in the last 90 days. Insiders own 0.02% of the company’s stock.

Intel Company Profile

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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Institutional Ownership by Quarter for Intel (NASDAQ:INTC)

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