INTC--Intel gets rid of holdings in five firms
By Chris Kraeuter, CBS.MarketWatch.com
Last Update: 8:53 PM ET Feb. 14, 2002
SANTA CLARA, Calif. (CBS.MW) -- Intel has closed out ownership stakes in five companies and reduced its holding in two others, according to filings with the Securities and Exchange Commission.
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Also, Intel (INTC: news, chart, profile) detailed that it had investments in 520 companies with a fair market value of $3.3 billion. The company has a long-standing policy of investing in startups that possess technologies deemed commercially promising.
Intel disposed of its stock holdings in Ibeam Broadcasting (IBEMQ: news, chart, profile). Intel had owned 10.4 million shares, or 8 percent of the outstanding float. Ibeam was a streaming media company -- its stock no longer trades.
Intel also disposed of its stake in Nova Measuring Instruments (NVMI: news, chart, profile). Intel reported in March 2001 that it owned 1.3 million shares, or 8.74 percent of shares outstanding, of the Israel-based chip-equipment manufacturing. Its shares currently trade for $3.70.
Moreover, Intel sold down its position in ITXC (ITXC: news, chart, profile). In February of last year, Intel owned 3 million shares, or 6.83 percent, of the Internet telephony company. Shares currently trade around $6.34.
Intel disposed of its stake in Integrated Circuit Systems (ICST: news, chart, profile), a fabless chipmaker. Intel had 6.17 million shares, equating to 9.55 percent of shares outstanding, at the beginning of last year. Integrated Circuit's shares closed Thursday at $20.27.
Intel disposed of its stake in Raindance Communications (RNDC: news, chart, profile) after reporting a 5.22 percent stake last year. Shares of Raindance currently trade around $4.
Intel also cut its stake in Integrated Telecom Express (ITXI: news, chart, profile) to 714,286 shares, or 1.67 percent of shares outstanding. One year ago, Intel owned 2.1 million shares, representing 5.02 percent of shares outstanding of the communications chipset company. Integrated Telecom's shares recently traded for $1.60.
Intel cut its Be Inc. (BEOS: news, chart, profile) stake to 1.54 million shares, or 0.65 percent of shares outstanding, from 3 million shares held in January 2000. Be Inc. sold its software and intellectual property to Palm Inc. Its stock now trades for 10 cents.
Intel made the disclosures in separate 13G filings, which are initially filed when an ownership stake passes 5 percent. The Thursday filings from Intel were prompted because the company's stakes fell below 5 percent.
In addition, Intel detailed recent Rule 144 transactions involving interests held by some of its executives.
Michael R. Splinter, executive vice president and director of sales and marketing group, filed to sell 102,784 shares with a value of $3.4 million.
On Feb. 1, Sean Maloney, executive vice president and general manager of Intel's communications group, filed to sell 113,600 shares with a value of $3.69 million.
On. Jan. 29, F. Thomas Dunlap Jr., senior vice president and general counsel and secretary, filed to sell 192,000 shares valued at $6.5 million.
On Jan. 28, David Yoffie, an Intel director and professor at Harvard Business School, filed to sell 80,000 shares carrying a value of $2.725 million.
Chris |
