Intel Co. (INTC) Short Interest Up 9.1% in August
Intel Co. (NASDAQ:INTC) saw a large increase in short interest in August. As of August 15th, there was short interest totalling 100,813,296 shares, an increase of 9.1% from the July 31st total of 92,381,592 shares. Based on an average daily volume of 24,338,484 shares, the short-interest ratio is currently 4.1 days. Approximately 2.1% of the company’s stock are short sold.
A number of research analysts recently commented on INTC shares. Zacks Investment Research downgraded Intel from a “hold” rating to a “sell” rating in a research note on Monday, July 17th. Stifel Nicolaus reissued a “buy” rating and issued a $39.00 price target on shares of Intel in a research note on Friday, July 14th. Bank of America Corporation lowered Intel from a “buy” rating to a “neutral” rating and cut their price objective for the company from $42.00 to $38.00 in a report on Wednesday, June 21st. Credit Suisse Group restated a “neutral” rating and issued a $35.00 price objective on shares of Intel in a report on Tuesday, July 4th. Finally, Raymond James Financial, Inc. restated an “underperform” rating on shares of Intel in a report on Friday, July 14th. Seven equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $40.58.
In related news, CEO Brian M. Krzanich sold 72,173 shares of the company’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $33.69, for a total transaction of $2,431,508.37. Following the sale, the chief executive officer now directly owns 534,746 shares of the company’s stock, valued at approximately $18,015,592.74. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Venkata S. M. Renduchintala sold 13,996 shares of the company’s stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $35.47, for a total value of $496,438.12. Following the sale, the insider now directly owns 1,536 shares in the company, valued at $54,481.92. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 91,921 shares of company stock worth $3,130,162. 0.08% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of INTC. M Holdings Securities Inc. boosted its position in Intel by 29.0% in the second quarter. M Holdings Securities Inc. now owns 20,188 shares of the chip maker’s stock valued at $681,000 after buying an additional 4,542 shares during the last quarter. Griffin Asset Management Inc. bought a new stake in shares of Intel during the second quarter worth $4,400,000. Gs Investments Inc. bought a new stake in shares of Intel during the second quarter worth $820,000. Aldebaran Financial Inc. raised its stake in shares of Intel by 2.6% in the second quarter. Aldebaran Financial Inc. now owns 8,713 shares of the chip maker’s stock worth $294,000 after buying an additional 218 shares during the last quarter. Finally, USA Financial Portformulas Corp bought a new stake in shares of Intel during the second quarter worth $5,522,000. 67.07% of the stock is owned by institutional investors.
Intel (INTC) opened at 34.89 on Thursday. The firm has a market cap of $163.95 billion, a P/E ratio of 13.32 and a beta of 1.01. Intel has a 12 month low of $33.23 and a 12 month high of $38.45. The firm’s 50-day moving average price is $35.18 and its 200-day moving average price is $35.58.
Intel (NASDAQ:INTC) last released its quarterly earnings results on Thursday, July 27th. The chip maker reported $0.72 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.04. Intel had a net margin of 19.02% and a return on equity of 16.63%. The business had revenue of $14.76 billion for the quarter, compared to the consensus estimate of $14.39 billion. During the same period last year, the firm earned $0.59 earnings per share. The company’s quarterly revenue was up 9.1% on a year-over-year basis. On average, equities research analysts expect that Intel will post $3.01 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Monday, August 7th will be paid a $0.2725 dividend. The ex-dividend date of this dividend is Thursday, August 3rd. This represents a $1.09 dividend on an annualized basis and a dividend yield of 3.12%. Intel’s dividend payout ratio (DPR) is presently 41.76%.
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Intel Corporation is engaged in designing and manufacturing products and technologies, such as the cloud. The Company’s segments are Client Computing Group (CCG), Data Center Group (DCG), Internet of Things Group (IOTG), Non-Volatile Memory Solutions Group (NSG), Intel Security Group (ISecG), Programmable Solutions Group (PSG), All Other and New Technology Group (NTG).
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