Needelman Asset Management Inc Lowers stake in Intel Corporation (INTC)

Intel Corporation (INTC) : Needelman Asset Management Inc reduced its stake in Intel Corporation by 0.22% during the most recent quarter end. The investment management company now holds a total of 34,780 shares of Intel Corporation which is valued at $1,136,610 after selling 75 shares in Intel Corporation , the firm said in a disclosure report filed with the SEC on Jul 5, 2016.Intel Corporation makes up approximately 3.27% of Needelman Asset Management Inc’s portfolio.

Other Hedge Funds, Including , Cullinan Associates Inc boosted its stake in INTC in the latest quarter, The investment management firm added 3,300 additional shares and now holds a total of 325,006 shares of Intel Corporation which is valued at $10,643,947. Intel Corporation makes up approx 0.87% of Cullinan Associates Inc’s portfolio.

Intel Corporation opened for trading at $34.04 and hit $34.5 on the upside on Monday, eventually ending the session at $34.38, with a gain of 1.12% or 0.38 points. The heightened volatility saw the trading volume jump to 2,38,20,667 shares. Company has a market cap of $162,342 M.

On the company’s financial health, Intel Corporation reported $0.54 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Apr 19, 2016. Analyst had a consensus of $0.48. The company had revenue of $13801.00 million for the quarter, compared to analysts expectations of $13826.41 million. The company’s revenue was up 8.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.41 EPS.

Many Wall Street Analysts have commented on Intel Corporation. Company shares were Reiterated by Cowen on Jul 11, 2016 to “Market Perform”, Firm has raised the Price Target to $ 36 from a previous price target of $32 .Company shares were Reiterated by RBC Capital Mkts on Jul 8, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 34 from a previous price target of $33 .Intel Corporation was Upgraded by Bernstein to ” Mkt Perform” on Jul 8, 2016.

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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