Sonora Investment Management LLC Sells 23,080 Shares of Intel Co. (NASDAQ:INTC)

Sonora Investment Management LLC lessened its stake in Intel Co. (NASDAQ:INTC) by 21.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 82,660 shares of the chip maker’s stock after selling 23,080 shares during the quarter. Sonora Investment Management LLC’s holdings in Intel were worth $4,118,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Baron Financial Group LLC bought a new stake in Intel in the third quarter valued at about $34,000. Holloway Wealth Management LLC bought a new stake in Intel in the third quarter valued at about $41,000. Grace Capital bought a new stake in Intel in the third quarter valued at about $53,000. NuWave Investment Management LLC increased its holdings in Intel by 400.0% in the fourth quarter. NuWave Investment Management LLC now owns 1,205 shares of the chip maker’s stock valued at $60,000 after purchasing an additional 964 shares during the last quarter. Finally, Guinness Atkinson Asset Management Inc increased its holdings in Intel by 45.6% in the third quarter. Guinness Atkinson Asset Management Inc now owns 1,420 shares of the chip maker’s stock valued at $74,000 after purchasing an additional 445 shares during the last quarter. Institutional investors and hedge funds own 60.73% of the company’s stock.

A number of research firms have issued reports on INTC. UBS Group decreased their target price on Intel from $67.00 to $62.00 and set a “buy” rating for the company in a research note on Friday, October 23rd. Deutsche Bank Aktiengesellschaft decreased their target price on Intel from $60.00 to $55.00 and set a “hold” rating for the company in a research note on Friday, October 23rd. Sanford C. Bernstein set a $40.00 target price on Intel and gave the company a “sell” rating in a research note on Wednesday. BMO Capital Markets raised Intel from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $50.00 to $70.00 in a research note on Thursday. Finally, Royal Bank of Canada set a $40.00 target price on Intel and gave the company a “sell” rating in a research note on Wednesday. Eleven investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eighteen have given a buy rating to the company’s stock. Intel has a consensus rating of “Hold” and a consensus price target of $59.62.

In other news, VP Kevin Thomas Mcbride sold 589 shares of the business’s stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $44.96, for a total value of $26,481.44. Following the completion of the sale, the vice president now owns 14,486 shares of the company’s stock, valued at $651,290.56. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Robert Holmes Swan bought 8,021 shares of Intel stock in a transaction dated Wednesday, October 28th. The stock was acquired at an average cost of $44.96 per share, with a total value of $360,624.16. Following the transaction, the chief executive officer now owns 309,844 shares of the company’s stock, valued at approximately $13,930,586.24. The disclosure for this purchase can be found here. 0.04% of the stock is owned by corporate insiders.

NASDAQ:INTC opened at $56.95 on Thursday. The company has a quick ratio of 1.24, a current ratio of 1.66 and a debt-to-equity ratio of 0.48. The stock’s 50 day moving average price is $49.47 and its two-hundred day moving average price is $50.52. The firm has a market capitalization of $233.38 billion, a price-to-earnings ratio of 11.17, a P/E/G ratio of 1.36 and a beta of 0.74. Intel Co. has a 12-month low of $43.61 and a 12-month high of $69.29.

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

Intel Company 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.

Further Reading: Hold Rating