Minneapolis Portfolio Management Group Exits Position in Intel Corporation (INTC)

Intel Corporation (INTC) : Minneapolis Portfolio Management Group has sold out all of its stake in Intel Corporation during the most recent quarter, according to the disclosure filed by the company on Aug 1, 2016 with the SEC. The investment management company has sold out 872,045 shares of Intel Corporation which is valued at $29,867,541.

Other Hedge Funds, Including , Yacktman Asset Management Lp reduced its stake in INTC by selling 1,200 shares or 0.06% in the most recent quarter. The Hedge Fund company now holds 2,028,100 shares of INTC which is valued at $69,462,425. Intel Corporation makes up approx 0.56% of Yacktman Asset Management Lp’s portfolio.Strs Ohio reduced its stake in INTC by selling 172,373 shares or 4.52% in the most recent quarter. The Hedge Fund company now holds 3,643,561 shares of INTC which is valued at $126,905,230. Intel Corporation makes up approx 0.54% of Strs Ohio’s portfolio. Private Capital Advisors added INTC to its portfolio by purchasing 201,125 company shares during the most recent quarter which is valued at $6,970,993. Intel Corporation makes up approx 2.56% of Private Capital Advisors’s portfolio.Farmers Merchants Investments Inc boosted its stake in INTC in the latest quarter, The investment management firm added 1,215 additional shares and now holds a total of 285,683 shares of Intel Corporation which is valued at $10,196,026. Intel Corporation makes up approx 1.10% of Farmers Merchants Investments Inc’s portfolio.

Intel Corporation opened for trading at $34.29 and hit $34.62 on the upside on Thursday, eventually ending the session at $34.58, with a gain of 0.96% or 0.33 points. The heightened volatility saw the trading volume jump to 1,63,62,642 shares. Company has a market cap of $163,598 M.

On the company’s financial health, Intel Corporation reported $0.59 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Jul 20, 2016. Analyst had a consensus of $0.53. The company had revenue of $13533.00 million for the quarter, compared to analysts expectations of $13549.95 million. The company’s revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.55 EPS.

Many Wall Street Analysts have commented on Intel Corporation. Company shares were Reiterated by Nomura on Aug 2, 2016 to “Buy”, Firm has raised the Price Target to $ 38 from a previous price target of $35 .Company shares were Reiterated by Mizuho on Jul 21, 2016 to “Buy”, Firm has raised the Price Target to $ 38 from a previous price target of $36 .Company shares were Reiterated by MKM Partners on Jul 21, 2016 to “Buy”, Firm has raised the Price Target to $ 40 from a previous price target of $39 .

Intel Corporation is engaged in the design and manufacture of digital technology platforms. The Company sells these platforms to original equipment manufacturers (OEMs) original design manufacturers (ODMs) and industrial and communications equipment manufacturers in the computing and communications industries. The Company’s platforms are used to deliver a range of computing experiences in notebooks 2 in 1 systems desktops servers tablets smartphones and the Internet of Things. It also develops and sells software and services focused on security and technology integration. The Company’s operating segments include the PC Client Group (PCCG) the Data Center Group (DCG) the Internet of Things Group (IOTG) the Mobile and Communications Group (MCG) the software and services (SSG) and all other. SSG segment includes McAfee and software and services group. All Other segment includes Non-Volatile Memory Solutions Group Netbook Group and New Devices Group.

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