Marketfield Asset Management LLC Lowers Stake in Intel Co. (NASDAQ:INTC)

Marketfield Asset Management LLC lowered its position in shares of Intel Co. (NASDAQ:INTC) by 21.7% during the 2nd quarter, Holdings Channel.com reports. The firm owned 75,359 shares of the chip maker’s stock after selling 20,933 shares during the period. Intel accounts for 1.9% of Marketfield Asset Management LLC’s investment portfolio, making the stock its 23rd largest holding. Marketfield Asset Management LLC’s holdings in Intel were worth $3,607,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Ogorek Anthony Joseph NY ADV lifted its holdings in shares of Intel by 500.0% in the second quarter. Ogorek Anthony Joseph NY ADV now owns 600 shares of the chip maker’s stock worth $28,000 after buying an additional 500 shares in the last quarter. Next Capital Management LLC purchased a new position in shares of Intel in the second quarter worth $48,000. Virtus ETF Advisers LLC purchased a new position in shares of Intel in the fourth quarter worth $48,000. Stevens First Principles Investment Advisors purchased a new position in shares of Intel in the fourth quarter worth $53,000. Finally, Contravisory Investment Management Inc. lifted its holdings in shares of Intel by 234.1% in the second quarter. Contravisory Investment Management Inc. now owns 1,146 shares of the chip maker’s stock worth $55,000 after buying an additional 803 shares in the last quarter. 66.17% of the stock is currently owned by institutional investors and hedge funds.

Several equities analysts have recently commented on the stock. Northland Securities raised shares of Intel from an “under perform” rating to a “market perform” rating and set a $48.00 target price on the stock in a report on Friday, August 16th. Sanford C. Bernstein reissued a “sell” rating and issued a $39.00 target price on shares of Intel in a report on Friday, July 26th. Zacks Investment Research upgraded shares of Intel from a “sell” rating to a “hold” rating and set a $54.00 price target on the stock in a research report on Monday, July 29th. Benchmark initiated coverage on shares of Intel in a research report on Tuesday, July 23rd. They issued a “hold” rating on the stock. Finally, Robert W. Baird boosted their price target on shares of Intel from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Nine research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nineteen have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $54.19.

In other news, EVP Navin Shenoy sold 601 shares of the business’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $51.76, for a total transaction of $31,107.76. Following the completion of the sale, the executive vice president now directly owns 53,063 shares of the company’s stock, valued at $2,746,540.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Reed E. Hundt sold 10,000 shares of the business’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $52.45, for a total transaction of $524,500.00. Following the sale, the director now directly owns 44,400 shares of the company’s stock, valued at $2,328,780. The disclosure for this sale can be found here. Insiders have sold 36,524 shares of company stock worth $1,844,221 in the last quarter. Company insiders own 0.02% of the company’s stock.

INTC stock traded down $1.82 during mid-day trading on Friday, reaching $44.96. 28,211,515 shares of the stock traded hands, compared to its average volume of 25,901,184. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.04 and a current ratio of 1.48. Intel Co. has a one year low of $42.36 and a one year high of $59.59. The stock has a market capitalization of $208.87 billion, a PE ratio of 9.82, a PEG ratio of 1.44 and a beta of 0.88. The business has a 50-day moving average price of $48.65 and a two-hundred day moving average price of $50.10.

Intel (NASDAQ:INTC) last posted its quarterly earnings data on Thursday, July 25th. The chip maker reported $1.06 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.89 by $0.17. Intel had a net margin of 28.05% and a return on equity of 28.84%. The business had revenue of $16.51 billion for the quarter, compared to analysts’ expectations of $15.70 billion. During the same quarter in the previous year, the business posted $1.04 earnings per share. The business’s revenue was down 2.7% compared to the same quarter last year. On average, equities analysts expect that Intel Co. will post 4.37 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th will be given a dividend of $0.315 per share. This represents a $1.26 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date is Tuesday, August 6th. Intel’s dividend payout ratio (DPR) is 27.51%.

Intel 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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