The New Intel Corp Holding in Vuzix Corp
Intel Corp filed with the SEC SC 13D/A form for Vuzix Corp. The form can be accessed here: 000005086316000157. As reported in Intel Corp’s form, the filler as of late owns 22% or 4,962,600 shares of the Information Technology–company.
Vuzix Corp stake is a new one for the for this institutional investor and it was filed because of activity on November 16, 2016. We feel this shows Intel Corp’s positive view for the stock.
Reasons Why Intel Corp Bought – Vuzix Corp Stock
Purpose of Transaction
The second to last and last paragraph of Item 4 of the Schedule 13D are hereby deleted in their entirety.
Item 4 of Schedule 13D is hereby further amended and supplemented by adding the following at the end thereof:
On November 16, 2016, the Issuer filed a Current Report on Form8‑K, disclosing that on November10, 2016 it had received a letter from Intel. The letter informed the Issuer that Intel had been evaluating it alternatives with respect to its significant investment in and strategic relationship with the Issuer and that Intel had determined that it no longer desires to pursue any strategic relationship with the Issuer. Intel stated in the letter that the Issuer’s technology does not fit into Intel’s strategic plans. In the letter, Intel further stated that, although it had not made any final decisions regarding its Issuer stock (and any such decision would be subject to obtaining the requisite Intel corporate approvals), it wanted to work with the Issuer to undertake an orderly disposition of some or all of its Issuer stock, subject to pricing and other conditions, that would be less disruptive in the markets. In order to facilitate any sales of the Issuer’s stock, in the event Intel determines to do so, Intel also requested that, unless it notifies the Issuer otherwise, the Issuer should no longer provide Intel with any non-public information.
Except as set forth in the Schedule 13D, as amended, Intel, and to Intel’s knowledge, the persons set forth on Schedule A to the Schedule 13D have no plans or proposals that would result in or relate to any of the transactions, events or actions described in subparagraphs (a) through (j) of Item 4 of Schedule 13D (although the Reporting Person reserves the right to develop such plans).
Vuzix Corp Institutional Sentiment
Latest Security and Exchange filings show 21 investors own Vuzix Corp. The institutional ownership in Q3 2015 is low, at 5.41% of the outstanding shares. This is increased by 283537 the total institutional shares. 949332 were the shares owned by these institutional investors. In total 7 funds opened new Vuzix Corp stakes, 5 increased stakes. There were 3 that closed positions and 6 reduced them.
Scott Burney Bluefin Trading Llc is an institutional investor bullish on Vuzix Corp, owning 36007 shares as of Q3 2015 for 0.01% of its portfolio. Jean First Eagle Investment Management Llc owns 150000 shares or less than 0.01% of its portfolio. MD Macroview Investment Management Llc have less than 0.01% of their stock portfolio for 100 shares. Further, Coe Capital Management Llc reported stake worth less than 0.01% of its US stock portfolio. The CA Akanthos Capital Management Llc owns 395200 shares. Vuzix Corp is 2.80% of the manager’s US portfolio.
SEC Form 13D is filed within 10 days, by anyone who acquires beneficial ownership of 5%+ of any public firm. Activist investors and practices such as: company breakups, hostile takeovers, and change of control events, are permitted for this form filers. A filer must promptly update its 13D filing in case of acquisition or disposition of 1% or more of the securities that are the subject of the filing.
Insitutional Activity: The institutional sentiment increased to 1.08 in 2016 Q2. Its up 0.50, from 0.58 in 2016Q1. The ratio increased, as 6 funds sold all Vuzix Corporation shares owned while 6 reduced positions. 6 funds bought stakes while 7 increased positions. They now own 1.27 million shares or 5.32% more from 1.20 million shares in 2016Q1.
Thompson Davis & has invested 0.08% of its portfolio in Vuzix Corporation (NASDAQ:VUZI). Moreover, Goldman Sachs Inc has 0% invested in Vuzix Corporation (NASDAQ:VUZI) for 13,125 shares. Schwab Charles Invest Mgmt holds 0% of its portfolio in Vuzix Corporation (NASDAQ:VUZI) for 35,500 shares. Blackrock Investment Mgmt Limited Liability Corporation last reported 0% of its portfolio in the stock. Geode Cap Mgmt Ltd Liability Company last reported 0% of its portfolio in the stock. Susquehanna Llp holds 0% of its portfolio in Vuzix Corporation (NASDAQ:VUZI) for 88,052 shares. Blackrock Institutional Tru Na accumulated 110,432 shares or 0% of the stock. Moreover, Ladenburg Thalmann Serv has 0% invested in Vuzix Corporation (NASDAQ:VUZI) for 177 shares. Grp One Trading Limited Partnership holds 0% or 6,211 shares in its portfolio. Royal Bancorporation Of Canada owns 600 shares or 0% of their US portfolio. Mount Lucas Ltd Partnership holds 0.01% or 8,000 shares in its portfolio. Blackrock Fund Advsr reported 31,372 shares or 0% of all its holdings. Morgan Stanley holds 1,059 shares or 0% of its portfolio. Bank & Trust Of America De last reported 18 shares in the company. Akanthos Cap Ltd Co has invested 2.39% of its portfolio in Vuzix Corporation (NASDAQ:VUZI).
The stock increased 1.86% or $0.15 during the last trading session, hitting $8.2. Vuzix Corporation (NASDAQ:VUZI) has risen 54.72% since April 15, 2016 and is uptrending. It has outperformed by 50.09% the S&P500.
Vuzix Corporation (NASDAQ:VUZI) Ratings Coverage
Out of 4 analysts covering Vuzix (NASDAQ:VUZI), 4 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. $11 is the highest target while $7.0 is the lowest. The $10.25 average target is 25.00% above today’s ($8.2) stock price. Vuzix has been the topic of 7 analyst reports since August 17, 2015 according to StockzIntelligence Inc. The company was reinitiated on Monday, September 28 by Chardan Capital Markets. On Thursday, December 10 the stock rating was initiated by H.C. Wainwright with “Buy”. On Friday, October 28 the stock rating was initiated by Maxim Group with “Buy”. The stock has “Buy” rating given by Chardan Capital Markets on Monday, August 17. The firm earned “Buy” rating on Thursday, December 10 by Rodman & Renshaw. The rating was downgraded by Zacks to “Hold” on Friday, August 21. As per Monday, December 14, the company rating was maintained by Chardan Capital Markets.
More important recent Vuzix Corporation (NASDAQ:VUZI) news were published by: Streetinsider.com which released: “Vuzix Corp. (VUZI) Says Intel (INTC) No Longer Plans to Pursue Strategic …” on November 16, 2016, also Usatoday.com published article titled: “Vuzix Corp. sees future in augmented reality”, Streetinsider.com published: “Vuzix Corp. (VUZI) Shares Tick Lower Amid Reschedule Q3 Conf. Call” on November 11, 2016. More interesting news about Vuzix Corporation (NASDAQ:VUZI) was released by: Streetinsider.com and their article: “Vuzix Corp. (VUZI) Plans to Commence Commercial Shipments of M300 This Month” with publication date: November 07, 2016.
According to Zacks Investment Research, “Vuzix Corporation designs, manufactures, and sells display devices that are worn like eyeglasses and feature built-in video screens that enable the user to view video and digital content, such as movies, computer data, the Internet or video games. It produces both monocular and binocular Video Eyewear devices. The Company focuses on consumer markets for gaming and mobile video and on rugged mobile displays for defence and industrial applications. Vuzix Corporation is based in Rochester, New York.”
VUZI Company Profile
Vuzix Corporation, incorporated on October 16, 1997, is engaged in the design, manufacture, marketing and sale of wearable display devices and smart glasses devices known commercially as Video Eyewear (also referred to as head mounted displays (HMDs), Smart Glasses, wearable displays, video glasses, personal viewers, near-eye virtual displays, and near-eye displays or NEDs). These devices are worn like eyeglasses and feature built-in video screens and in some cases a computer, that enable the user to view and interact with video and digital content, such as movies, computer data, the Internet or video games. The Company’s Video Eyewear products provide virtual large high-resolution screens, fit in a user’s pocket or purse and can be viewed practically anywhere, anytime. The Company’s Video Eyewear are designed to work with mobile electronic devices, such as cell phones, laptop computers, tablets, portable media players and gaming systems.
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