Sandy Spring Bank Lowers stake in Intel Corporation (INTC)

Intel Corporation (INTC) : Sandy Spring Bank reduced its stake in Intel Corporation by 5.66% during the most recent quarter end. The investment management company now holds a total of 253,328 shares of Intel Corporation which is valued at $8,876,613 after selling 15,193 shares in Intel Corporation , the firm said in a disclosure report filed with the SEC on Aug 9, 2016.Intel Corporation makes up approximately 0.98% of Sandy Spring Bank’s portfolio.

Other Hedge Funds, Including , Chesapeake Asset Management reduced its stake in INTC by selling 2,000 shares or 4.36% in the most recent quarter. The Hedge Fund company now holds 43,918 shares of INTC which is valued at $1,523,076. Intel Corporation makes up approx 1.19% of Chesapeake Asset Management’s portfolio.Badgley Phelps Bell Inc reduced its stake in INTC by selling 165,492 shares or 88.82% in the most recent quarter. The Hedge Fund company now holds 20,826 shares of INTC which is valued at $713,291. Intel Corporation makes up approx 0.06% of Badgley Phelps Bell Inc’s portfolio.Independence Trust Co reduced its stake in INTC by selling 1,452 shares or 1.68% in the most recent quarter. The Hedge Fund company now holds 84,753 shares of INTC which is valued at $2,937,539. Intel Corporation makes up approx 4.39% of Independence Trust Co’s portfolio.

Intel Corporation closed down -0.19 points or -0.54% at $35.02 with 1,82,21,644 shares getting traded on Wednesday. Post opening the session at $35.17, the shares hit an intraday low of $34.77 and an intraday high of $35.21 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

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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