Navellier & Associates Inc Sells 4,981 Shares of Intel Co. (INTC)
Navellier & Associates Inc reduced its position in Intel Co. (NASDAQ:INTC) by 2.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 178,722 shares of the chip maker’s stock after selling 4,981 shares during the period. Intel makes up 0.9% of Navellier & Associates Inc’s investment portfolio, making the stock its 29th largest holding. Navellier & Associates Inc’s holdings in Intel were worth $6,030,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of INTC. Watermark Asset Management Inc. purchased a new stake in Intel in the 1st quarter valued at $113,000. Acrospire Investment Management LLC raised its position in Intel by 111.8% in the 2nd quarter. Acrospire Investment Management LLC now owns 3,600 shares of the chip maker’s stock valued at $121,000 after buying an additional 1,900 shares during the last quarter. Vigilant Capital Management LLC raised its position in Intel by 22.6% in the 1st quarter. Vigilant Capital Management LLC now owns 4,373 shares of the chip maker’s stock valued at $158,000 after buying an additional 805 shares during the last quarter. Winfield Associates Inc. raised its position in Intel by 6.0% in the 2nd quarter. Winfield Associates Inc. now owns 4,651 shares of the chip maker’s stock valued at $156,000 after buying an additional 265 shares during the last quarter. Finally, Farmers National Bank raised its position in Intel by 5.1% in the 1st quarter. Farmers National Bank now owns 4,842 shares of the chip maker’s stock valued at $183,000 after buying an additional 234 shares during the last quarter. Institutional investors own 67.69% of the company’s stock.
In other Intel news, CEO Brian M. Krzanich sold 61,860 shares of the firm’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $38.74, for a total value of $2,396,456.40. Following the completion of the transaction, the chief executive officer now owns 543,948 shares in the company, valued at approximately $21,072,545.52. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Diane M. Bryant sold 1,639 shares of the firm’s stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $40.91, for a total value of $67,051.49. Following the completion of the transaction, the executive vice president now owns 113,086 shares of the company’s stock, valued at approximately $4,626,348.26. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,548,914 shares of company stock valued at $68,196,589. 0.08% of the stock is owned by corporate insiders.
Intel (NASDAQ:INTC) last announced its quarterly earnings data on Thursday, October 26th. The chip maker reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.21. Intel had a return on equity of 25.96% and a net margin of 27.96%. The company had revenue of $16.15 billion during the quarter, compared to analyst estimates of $15.73 billion. During the same quarter last year, the firm posted $0.80 EPS. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. analysts forecast that Intel Co. will post 3.25 earnings per share for the current year.
INTC has been the subject of a number of analyst reports. Zacks Investment Research raised Intel from a “hold” rating to a “buy” rating and set a $39.00 price target for the company in a research report on Wednesday, September 6th. ValuEngine lowered Intel from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Vetr raised Intel from a “buy” rating to a “strong-buy” rating and set a $41.56 target price for the company in a research report on Thursday, August 24th. Credit Suisse Group reaffirmed an “outperform” rating on shares of Intel in a research report on Thursday, August 31st. Finally, Stifel Nicolaus raised their target price on Intel from $41.00 to $46.00 and gave the company a “buy” rating in a research report on Friday, October 20th. Five equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-seven have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $43.97.
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Intel Company Profile
Intel Corporation is engaged in designing and manufacturing products and technologies, such as the cloud. The Company’s segments are Client Computing Group (CCG), Data Center Group (DCG), Internet of Things Group (IOTG), Non-Volatile Memory Solutions Group (NSG), Intel Security Group (ISecG), Programmable Solutions Group (PSG), All Other and New Technology Group (NTG).
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