Platinum Investment Management Ltd Lowers stake in Intel Corporation (INTC)

Intel Corporation (INTC) : Platinum Investment Management Ltd reduced its stake in Intel Corporation by 22.53% during the most recent quarter end. The investment management company now holds a total of 4,326,951 shares of Intel Corporation which is valued at $149,193,270 after selling 1,258,200 shares in Intel Corporation , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.Intel Corporation makes up approximately 3.68% of Platinum Investment Management Ltd’s portfolio.

Other Hedge Funds, Including , Congress Asset Management Co boosted its stake in INTC in the latest quarter, The investment management firm added 4,579 additional shares and now holds a total of 124,118 shares of Intel Corporation which is valued at $4,279,589. Intel Corporation makes up approx 0.09% of Congress Asset Management Co’s portfolio.Blackrock Investment Management reduced its stake in INTC by selling 4,622,958 shares or 25.89% in the most recent quarter. The Hedge Fund company now holds 13,234,666 shares of INTC which is valued at $459,110,564. Intel Corporation makes up approx 0.58% of Blackrock Investment Management’s portfolio.Schaper Benz Wise Investment Counsel Incwi reduced its stake in INTC by selling 8,148 shares or 2.17% in the most recent quarter. The Hedge Fund company now holds 367,909 shares of INTC which is valued at $12,729,651. Intel Corporation makes up approx 2.34% of Schaper Benz Wise Investment Counsel Incwi’s portfolio.Bradley Foster Sargent Incct boosted its stake in INTC in the latest quarter, The investment management firm added 1,411 additional shares and now holds a total of 108,636 shares of Intel Corporation which is valued at $3,750,115. Intel Corporation makes up approx 0.17% of Bradley Foster Sargent Incct’s portfolio.Whitnell reduced its stake in INTC by selling 2,298 shares or 2.38% in the most recent quarter. The Hedge Fund company now holds 94,401 shares of INTC which is valued at $3,296,483. Intel Corporation makes up approx 1.16% of Whitnell’s portfolio.

Intel Corporation closed down -0.07 points or -0.20% at $34.95 with 1,68,06,853 shares getting traded on Monday. Post opening the session at $34.9, the shares hit an intraday low of $34.64 and an intraday high of $35 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Intel Corporation reported $0.80 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on Oct 18, 2016. Analyst had a consensus of $0.72. The company had revenue of $15778.00 million for the quarter, compared to analysts expectations of $15605.45 million. The company’s revenue was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.64 EPS.

Many Wall Street Analysts have commented on Intel Corporation. Shares were Reiterated by RBC Capital Mkts on Oct 19, 2016 to “Sector Perform” and Lowered the Price Target to $ 37 from a previous price target of $38 .Shares were Reiterated by Needham on Oct 19, 2016 to “Buy” and Lowered the Price Target to $ 42 from a previous price target of $43 .Intel Corporation was Upgraded by Charter Equity to ” Buy” on Oct 19, 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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