OLD Republic International Corp Maintains Position in Intel Corporation (INTC)
OLD Republic International Corp maintained its stake in Intel Corporation (NASDAQ:INTC) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,016,300 shares of the chip maker’s stock at the end of the first quarter. Intel Corporation accounts for 1.3% of OLD Republic International Corp’s investment portfolio, making the stock its 28th largest position. OLD Republic International Corp’s holdings in Intel Corporation were worth $36,658,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in the stock. Norges Bank acquired a new stake in Intel Corporation during the fourth quarter valued at approximately $1,684,790,000. Glenview Capital Management LLC acquired a new stake in Intel Corporation during the first quarter valued at approximately $177,881,000. DnB Asset Management AS raised its stake in Intel Corporation by 654.3% in the first quarter. DnB Asset Management AS now owns 5,433,478 shares of the chip maker’s stock valued at $195,986,000 after buying an additional 4,713,168 shares in the last quarter. Gotham Asset Management LLC raised its stake in Intel Corporation by 112.1% in the first quarter. Gotham Asset Management LLC now owns 1,741,166 shares of the chip maker’s stock valued at $62,804,000 after buying an additional 920,285 shares in the last quarter. Finally, Pictet Asset Management Ltd. raised its stake in Intel Corporation by 11.9% in the first quarter. Pictet Asset Management Ltd. now owns 8,323,744 shares of the chip maker’s stock valued at $300,238,000 after buying an additional 882,905 shares in the last quarter. 67.31% of the stock is owned by institutional investors and hedge funds.
Shares of Intel Corporation (NASDAQ INTC) traded down 0.784% on Tuesday, reaching $36.055. 6,395,384 shares of the company’s stock were exchanged. Intel Corporation has a 52-week low of $33.23 and a 52-week high of $38.45. The stock has a market cap of $169.42 billion, a P/E ratio of 13.761 and a beta of 1.01. The company’s 50 day moving average price is $34.90 and its 200-day moving average price is $35.68.
Intel Corporation (NASDAQ:INTC) last announced its quarterly earnings data on Thursday, July 27th. The chip maker reported $0.72 EPS for the quarter, topping the consensus estimate of $0.68 by $0.04. The company had revenue of $14.76 billion during the quarter, compared to the consensus estimate of $14.39 billion. Intel Corporation had a net margin of 20.60% and a return on equity of 21.86%. The company’s quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.59 EPS. Equities analysts forecast that Intel Corporation will post $3.01 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Monday, August 7th will be given a dividend of $0.2725 per share. This represents a $1.09 annualized dividend and a dividend yield of 3.00%. The ex-dividend date of this dividend is Thursday, August 3rd. Intel Corporation’s dividend payout ratio (DPR) is 41.76%.
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Several analysts recently commented on INTC shares. Zacks Investment Research lowered shares of Intel Corporation from a “hold” rating to a “sell” rating in a research note on Monday, July 17th. Needham & Company LLC restated a “buy” rating and issued a $43.00 price target on shares of Intel Corporation in a research report on Wednesday, July 12th. Bank of America Corporation downgraded shares of Intel Corporation from a “buy” rating to a “neutral” rating and reduced their price target for the company from $42.00 to $38.00 in a research report on Wednesday, June 21st. BidaskClub downgraded shares of Intel Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, June 27th. Finally, Canaccord Genuity restated a “buy” rating and issued a $38.00 price target on shares of Intel Corporation in a research report on Wednesday, July 12th. Five research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and twenty-seven have issued a buy rating to the company’s stock. Intel Corporation presently has an average rating of “Hold” and a consensus price target of $40.55.
In related news, CFO Robert Holmes Swan acquired 13,888 shares of Intel Corporation stock in a transaction dated Monday, June 5th. The stock was bought at an average price of $36.31 per share, with a total value of $504,273.28. Following the transaction, the chief financial officer now directly owns 8,774 shares in the company, valued at approximately $318,583.94. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Venkata S. M. Renduchintala sold 1,424 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $36.40, for a total transaction of $51,833.60. Following the sale, the insider now directly owns 1,536 shares of the company’s stock, valued at approximately $55,910.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 91,921 shares of company stock valued at $3,130,162. Insiders own 0.09% of the company’s stock.
About Intel Corporation
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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