Somerville Kurt F reduced its holdings in shares of Intel Co. (NASDAQ:INTC) by 3.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 253,218 shares of the chip maker’s stock after selling 9,055 shares during the quarter. Intel accounts for about 2.8% of Somerville Kurt F’s holdings, making the stock its 15th biggest holding. Somerville Kurt F’s holdings in Intel were worth $15,157,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in INTC. Schwab Charitable Fund raised its position in Intel by 11.1% in the fourth quarter. Schwab Charitable Fund now owns 8,000 shares of the chip maker’s stock valued at $479,000 after purchasing an additional 800 shares during the last quarter. Boenning & Scattergood Inc. boosted its stake in shares of Intel by 4.8% during the fourth quarter. Boenning & Scattergood Inc. now owns 55,097 shares of the chip maker’s stock valued at $3,298,000 after purchasing an additional 2,512 shares in the last quarter. Calamos Advisors LLC boosted its stake in shares of Intel by 38.6% during the fourth quarter. Calamos Advisors LLC now owns 1,079,915 shares of the chip maker’s stock valued at $64,633,000 after purchasing an additional 300,599 shares in the last quarter. Ingalls & Snyder LLC grew its holdings in shares of Intel by 1.2% during the fourth quarter. Ingalls & Snyder LLC now owns 144,302 shares of the chip maker’s stock worth $8,636,000 after purchasing an additional 1,718 shares during the last quarter. Finally, Calamos Wealth Management LLC grew its holdings in shares of Intel by 125.7% during the fourth quarter. Calamos Wealth Management LLC now owns 18,886 shares of the chip maker’s stock worth $1,130,000 after purchasing an additional 10,519 shares during the last quarter. Institutional investors and hedge funds own 65.28% of the company’s stock.
INTC stock opened at $58.94 on Thursday. The company has a quick ratio of 0.85, a current ratio of 1.20 and a debt-to-equity ratio of 0.32. The firm has a market cap of $258.52 billion, a price-to-earnings ratio of 12.87, a PEG ratio of 1.68 and a beta of 0.91. The company’s fifty day simple moving average is $58.52 and its 200 day simple moving average is $53.05. Intel Co. has a 12-month low of $42.86 and a 12-month high of $60.97.
Intel declared that its Board of Directors has initiated a stock buyback program on Thursday, October 24th that authorizes the company to buyback $20.00 billion in outstanding shares. This buyback authorization authorizes the chip maker to purchase up to 8.7% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.
Several research firms have recently issued reports on INTC. BMO Capital Markets raised their price objective on shares of Intel from $50.00 to $53.00 and gave the company a “market perform” rating in a report on Friday, October 25th. BidaskClub upgraded shares of Intel from a “hold” rating to a “buy” rating in a research report on Saturday, January 4th. Sanford C. Bernstein reissued a “sell” rating and set a $42.00 target price on shares of Intel in a report on Friday, October 25th. Barclays upped their price target on shares of Intel from $40.00 to $42.00 and gave the company an “underweight” rating in a research report on Friday, October 25th. Finally, ValuEngine upgraded shares of Intel from a “sell” rating to a “hold” rating in a research report on Friday, December 13th. Eight investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $56.66.
In other news, EVP Navin Shenoy sold 1,404 shares of Intel stock in a transaction on Friday, November 1st. The shares were sold at an average price of $55.94, for a total value of $78,539.76. Following the completion of the sale, the executive vice president now owns 58,168 shares in the company, valued at approximately $3,253,917.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Andy D. Bryant sold 46,932 shares of Intel stock in a transaction on Friday, November 15th. The shares were sold at an average price of $58.24, for a total transaction of $2,733,319.68. Following the completion of the sale, the chairman now owns 425,491 shares of the company’s stock, valued at approximately $24,780,595.84. The disclosure for this sale can be found here. Insiders sold a total of 81,284 shares of company stock worth $4,517,194 over the last three months. 0.02% of the stock is owned by company insiders.
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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