Norway Savings Bank Sells 806 Shares of Intel Co. (NASDAQ:INTC)


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Norway Savings Bank trimmed its position in Intel Co. (NASDAQ:INTC) by 2.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 35,734 shares of the chip maker’s stock after selling 806 shares during the period. Norway Savings Bank’s holdings in Intel were worth $1,780,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently made changes to their positions in INTC. FMR LLC lifted its stake in shares of Intel by 39.2% in the 2nd quarter. FMR LLC now owns 29,092,410 shares of the chip maker’s stock valued at $1,740,598,000 after acquiring an additional 8,197,324 shares during the last quarter. WFA of San Diego LLC acquired a new stake in Intel in the second quarter valued at $426,000. Neuberger Berman Group LLC increased its holdings in Intel by 67.6% in the second quarter. Neuberger Berman Group LLC now owns 1,581,474 shares of the chip maker’s stock valued at $94,511,000 after purchasing an additional 637,758 shares during the period. Soundwatch Capital LLC acquired a new stake in Intel in the second quarter valued at $224,000. Finally, Hayek Kallen Investment Management increased its holdings in Intel by 2.7% in the second quarter. Hayek Kallen Investment Management now owns 114,783 shares of the chip maker’s stock valued at $6,867,000 after purchasing an additional 2,982 shares during the period. Institutional investors own 60.73% of the company’s stock.

In other Intel news, EVP Navin Shenoy sold 2,848 shares of Intel stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $44.96, for a total transaction of $128,046.08. Following the transaction, the executive vice president now owns 72,272 shares of the company’s stock, valued at approximately $3,249,349.12. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Robert Holmes Swan bought 8,021 shares of the business’s stock in a transaction dated Wednesday, October 28th. The stock was acquired at an average price of $44.96 per share, for a total transaction of $360,624.16. Following the purchase, the chief executive officer now directly owns 309,844 shares in the company, valued at $13,930,586.24. The disclosure for this purchase can be found here. 0.04% of the stock is currently owned by company insiders.

A number of analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft decreased their price objective on Intel from $60.00 to $55.00 and set a “hold” rating for the company in a report on Friday, October 23rd. Zacks Investment Research upgraded Intel from a “sell” rating to a “hold” rating and set a $49.00 price objective for the company in a report on Tuesday, December 22nd. Sanford C. Bernstein set a $40.00 price objective on Intel and gave the company a “sell” rating in a report on Wednesday. Smith Barney Citigroup decreased their price objective on Intel from $53.00 to $50.00 in a report on Friday, October 23rd. Finally, Bank of America downgraded Intel to a “sell” rating and set a $45.00 price objective for the company. in a report on Tuesday, December 15th. Eleven equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and fifteen have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $58.22.

Shares of INTC opened at $56.95 on Thursday. Intel Co. has a one year low of $43.61 and a one year high of $69.29. The company has a market cap of $233.38 billion, a PE ratio of 11.17, a P/E/G ratio of 1.36 and a beta of 0.74. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.66 and a quick ratio of 1.24. The stock has a 50-day moving average of $49.47 and a 200-day moving average of $50.52.

Intel (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, October 22nd. The chip maker reported $1.11 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.10 by $0.01. Intel had a net margin of 28.10% and a return on equity of 29.44%. The business had revenue of $18.33 billion for the quarter, compared to analysts’ expectations of $18.26 billion. During the same quarter last year, the firm earned $1.42 EPS. The firm’s revenue for the quarter was down 4.5% compared to the same quarter last year. Analysts expect that Intel Co. will post 4.89 EPS for the current fiscal year.

Intel Profile

Intel Corporation designs, manufactures, and sells essential technologies for the cloud, smart, and connected devices worldwide. The company operates through DCG, IOTG, Mobileye, NSG, PSG, CCG, and All Other segments. It offers platform products, such as central processing units and chipsets, and system-on-chip and multichip packages; and non-platform or adjacent products comprising accelerators, boards and systems, connectivity products, and memory and storage products.

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Institutional Ownership by Quarter for Intel (NASDAQ:INTC)

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