Cascade Investment Advisors Inc. Reduces Stake in Intel Co. (NASDAQ:INTC)

Cascade Investment Advisors Inc. lessened its position in Intel Co. (NASDAQ:INTC) by 3.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 58,099 shares of the chip maker’s stock after selling 2,270 shares during the period. Intel comprises 3.3% of Cascade Investment Advisors Inc.’s portfolio, making the stock its 3rd largest holding. Cascade Investment Advisors Inc.’s holdings in Intel were worth $3,476,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. lifted its stake in shares of Intel by 2.9% in the first quarter. BlackRock Inc. now owns 311,391,281 shares of the chip maker’s stock worth $16,852,495,000 after buying an additional 8,659,315 shares in the last quarter. Capital International Investors lifted its stake in shares of Intel by 0.9% in the fourth quarter. Capital International Investors now owns 142,522,918 shares of the chip maker’s stock worth $8,529,995,000 after buying an additional 1,323,789 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Intel by 4.1% during the first quarter. Geode Capital Management LLC now owns 71,885,174 shares of the chip maker’s stock valued at $3,884,421,000 after purchasing an additional 2,854,177 shares during the last quarter. Norges Bank purchased a new position in shares of Intel during the fourth quarter valued at approximately $2,966,694,000. Finally, Bank of New York Mellon Corp raised its holdings in shares of Intel by 7.1% during the first quarter. Bank of New York Mellon Corp now owns 40,788,450 shares of the chip maker’s stock valued at $2,207,470,000 after purchasing an additional 2,709,735 shares during the last quarter. Hedge funds and other institutional investors own 64.95% of the company’s stock.

Shares of NASDAQ:INTC opened at $58.98 on Wednesday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.35 and a current ratio of 1.74. The firm has a fifty day moving average price of $60.49 and a 200 day moving average price of $59.54. Intel Co. has a fifty-two week low of $43.63 and a fifty-two week high of $69.29. The firm has a market cap of $252.05 billion, a price-to-earnings ratio of 11.43, a P/E/G ratio of 1.65 and a beta of 0.78.

Intel (NASDAQ:INTC) last issued its earnings results on Thursday, April 23rd. The chip maker reported $1.45 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.28 by $0.17. Intel had a net margin of 30.02% and a return on equity of 31.64%. The firm had revenue of $19.83 billion during the quarter, compared to analyst estimates of $18.65 billion. During the same quarter in the prior year, the business earned $0.89 earnings per share. Intel’s revenue for the quarter was up 23.5% on a year-over-year basis. As a group, research analysts predict that Intel Co. will post 4.81 earnings per share for the current year.

Several research analysts have recently weighed in on INTC shares. BNP Paribas raised shares of Intel from a “neutral” rating to an “outperform” rating and set a $65.00 price objective for the company in a report on Tuesday, March 24th. Vertical Group started coverage on shares of Intel in a report on Tuesday, March 24th. They set a “buy” rating for the company. Wells Fargo & Co boosted their price objective on shares of Intel from $56.00 to $60.00 and gave the company an “equal weight” rating in a report on Friday, April 24th. Tigress Financial reaffirmed a “buy” rating on shares of Intel in a report on Friday, June 5th. Finally, Roth Capital reaffirmed a “buy” rating on shares of Intel in a report on Friday, April 24th. Eight research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and twenty-one have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $65.50.

In related news, EVP Navin Shenoy sold 2,848 shares of the firm’s stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $58.83, for a total value of $167,547.84. Following the transaction, the executive vice president now owns 77,709 shares of the company’s stock, valued at approximately $4,571,620.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Venkata S. M. Renduchintala sold 46,544 shares of the firm’s stock in a transaction dated Wednesday, April 29th. The stock was sold at an average price of $60.67, for a total transaction of $2,823,824.48. Following the completion of the transaction, the insider now directly owns 126,240 shares in the company, valued at approximately $7,658,980.80. The disclosure for this sale can be found here. Insiders have sold 56,410 shares of company stock valued at $3,411,259 in the last quarter. 0.04% of the stock is owned by company insiders.

About Intel

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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