Renaissance Investment Group Lowers stake in Intel Corporation (INTC)

Intel Corporation (INTC) : Renaissance Investment Group reduced its stake in Intel Corporation by 3.99% during the most recent quarter end. The investment management company now holds a total of 37,253 shares of Intel Corporation which is valued at $1.2 Million after selling 1,550 shares in Intel Corporation according to a report filed by the company on Apr 1, 2016 with the SEC.Intel Corporation makes up approximately 0.60% of Renaissance Investment Group’s portfolio.

Other Hedge Funds, Including , Beacon Financial Group boosted its stake in INTC in the latest quarter, The investment management firm added 233,212 additional shares and now holds a total of 240,392 shares of Intel Corporation which is valued at $7.8 Million. Intel Corporation makes up approx 1.69% of Beacon Financial Group’s portfolio.

On the company’s financial health, Intel Corporation reported $0.74 EPS for the quarter, beating the analyst consensus estimate by $ 0.11 according to the earnings call on Jan 14, 2016. Analyst had a consensus of $0.63. The company had revenue of $14914.00 million for the quarter, compared to analysts expectations of $14801.83 million. The company’s revenue was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.74 EPS.

Investors should note that on Mar 17, 2016, Intel Corporation announced a cash dividend of $0.2600. The company’s management has announced May 5, 2016 as the ex-dividend date and fixed the record date on May 7, 2016. The payable date has been fixed on Jun 1, 2016.

Many Wall Street Analysts have commented on Intel Corporation. Intel Corporation was Initiated by Brean Capital to “Buy” on Apr 7, 2016. Intel Corporation was Downgraded by Exane BNP Paribas to ” Neutral” on Apr 4, 2016. Company shares were Reiterated by RBC Capital Mkts on Apr 1, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 33 from a previous price target of $31 .

Intel Corporation opened for trading at $31.9 and hit $32.34 on the upside on Monday, eventually ending the session at $31.67, with a gain of 0.13% or 0.04 points. The heightened volatility saw the trading volume jump to 1,97,07,683 shares. Company has a market cap of $149,609 M.

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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