Cadence Capital Management Lowers stake in Intel Corporation (INTC)

Intel Corporation (INTC) : Cadence Capital Management reduced its stake in Intel Corporation by 9.81% during the most recent quarter end. The investment management company now holds a total of 376,234 shares of Intel Corporation which is valued at $12,886,015 after selling 40,917 shares in Intel Corporation , the firm said in a disclosure report filed with the SEC on Aug 3, 2016.Intel Corporation makes up approximately 0.94% of Cadence Capital Management’s portfolio.

Other Hedge Funds, Including , Intrust Bank Na boosted its stake in INTC in the latest quarter, The investment management firm added 4,984 additional shares and now holds a total of 28,165 shares of Intel Corporation which is valued at $964,651. Intel Corporation makes up approx 0.38% of Intrust Bank Na’s portfolio.Telemus Capital boosted its stake in INTC in the latest quarter, The investment management firm added 13,599 additional shares and now holds a total of 39,173 shares of Intel Corporation which is valued at $1,398,084. Intel Corporation makes up approx 0.16% of Telemus Capital’s portfolio.Stewart Patten Co boosted its stake in INTC in the latest quarter, The investment management firm added 5,578 additional shares and now holds a total of 537,814 shares of Intel Corporation which is valued at $19,194,582. Intel Corporation makes up approx 3.66% of Stewart Patten Co’s portfolio.Deroy Devereaux Private Investment Counsel Inc reduced its stake in INTC by selling 5,400 shares or 14.95% in the most recent quarter. The Hedge Fund company now holds 30,727 shares of INTC which is valued at $1,075,752. Intel Corporation makes up approx 0.14% of Deroy Devereaux Private Investment Counsel Inc’s portfolio.

Intel Corporation opened for trading at $34.9 and hit $35.17 on the upside on Monday, eventually ending the session at $35.04, with a gain of 0.17% or 0.06 points. The heightened volatility saw the trading volume jump to 1,94,97,332 shares. Company has a market cap of $165,774 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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