Investors Buy Intel Corporation (INTC) on Weakness Following Insider Selling
Traders bought shares of Intel Corporation (NASDAQ:INTC) on weakness during trading hours on Wednesday following insider selling activity. $244.72 million flowed into the stock on the tick-up and $171.35 million flowed out of the stock on the tick-down, for a money net flow of $73.37 million into the stock. Of all companies tracked, Intel Corporation had the 5th highest net in-flow for the day. Intel Corporation traded down ($0.04) for the day and closed at $39.34Specifically, insider Venkata S. M. Renduchintala sold 13,996 shares of the company’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $35.47, for a total value of $496,438.12. Following the transaction, the insider now directly owns 1,536 shares of the company’s stock, valued at approximately $54,481.92. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Diane M. Bryant sold 1,639 shares of the company’s stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $34.65, for a total value of $56,791.35. Following the completion of the transaction, the executive vice president now directly owns 114,542 shares in the company, valued at $3,968,880.30. The disclosure for this sale can be found here. Insiders have sold 81,608 shares of company stock valued at $3,095,110 over the last 90 days. 0.08% of the stock is currently owned by insiders.
A number of equities research analysts have issued reports on INTC shares. B. Riley reaffirmed a “buy” rating and issued a $46.00 price target on shares of Intel Corporation in a research report on Friday, July 28th. Bank of America Corporation cut Intel Corporation from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $42.00 to $38.00 in a research report on Wednesday, June 21st. Vetr raised Intel Corporation from a “buy” rating to a “strong-buy” rating and set a $40.45 price objective for the company in a research report on Monday, June 12th. Summit Redstone restated a “hold” rating on shares of Intel Corporation in a research note on Saturday, July 22nd. Finally, BMO Capital Markets restated a “market perform” rating and issued a $34.00 price objective on shares of Intel Corporation in a research note on Sunday, July 30th. Five equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and twenty-five have assigned a buy rating to the company. Intel Corporation has a consensus rating of “Hold” and an average target price of $40.51.
The stock has a market cap of $184.86 billion, a PE ratio of 15.02 and a beta of 1.07. The firm has a 50-day moving average of $36.15 and a 200-day moving average of $35.70. Intel Corporation also saw unusually large options trading on Monday. Stock investors purchased 65,675 call options on the company. This represents an increase of 250% compared to the average daily volume of 18,768 call options.
Intel Corporation (NASDAQ:INTC) last posted its quarterly earnings data on Thursday, July 27th. The chip maker reported $0.72 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.04. The company had revenue of $14.76 billion during the quarter, compared to analysts’ expectations of $14.39 billion. Intel Corporation had a return on equity of 21.86% and a net margin of 20.60%. Intel Corporation’s revenue was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.59 EPS. On average, equities analysts forecast that Intel Corporation will post $3.01 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Tuesday, November 7th will be paid a dividend of $0.2725 per share. The ex-dividend date of this dividend is Monday, November 6th. This represents a $1.09 annualized dividend and a dividend yield of 2.77%. Intel Corporation’s dividend payout ratio is currently 41.76%.
A number of institutional investors have recently bought and sold shares of INTC. Fulton Bank N.A. boosted its holdings in shares of Intel Corporation by 2.3% in the 3rd quarter. Fulton Bank N.A. now owns 93,293 shares of the chip maker’s stock valued at $3,553,000 after buying an additional 2,094 shares in the last quarter. Beacon Financial Group grew its position in shares of Intel Corporation by 39.5% in the 3rd quarter. Beacon Financial Group now owns 44,367 shares of the chip maker’s stock worth $1,689,000 after buying an additional 12,571 shares during the last quarter. Eqis Capital Management Inc. grew its position in shares of Intel Corporation by 8.2% in the 3rd quarter. Eqis Capital Management Inc. now owns 97,326 shares of the chip maker’s stock worth $3,706,000 after buying an additional 7,413 shares during the last quarter. Curbstone Financial Management Corp grew its position in shares of Intel Corporation by 92.4% in the 3rd quarter. Curbstone Financial Management Corp now owns 84,300 shares of the chip maker’s stock worth $3,210,000 after buying an additional 40,475 shares during the last quarter. Finally, Park National Corp OH grew its position in shares of Intel Corporation by 2.7% in the 3rd quarter. Park National Corp OH now owns 854,090 shares of the chip maker’s stock worth $32,523,000 after buying an additional 22,317 shares during the last quarter. Institutional investors own 67.03% of the company’s stock.
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Intel Corporation Company Profile
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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