Traders Buy Intel Corporation (INTC) on Weakness
Investors purchased shares of Intel Corporation (NASDAQ:INTC) on weakness during trading on Thursday. $260.58 million flowed into the stock on the tick-up and $83.86 million flowed out of the stock on the tick-down, for a money net flow of $176.72 million into the stock. Of all stocks tracked, Intel Corporation had the highest net in-flow for the day. Intel Corporation traded down ($0.29) for the day and closed at $44.65
A number of research firms recently commented on INTC. Jefferies Group LLC reissued an “underperform” rating and set a $30.00 price objective (up previously from $29.00) on shares of Intel Corporation in a report on Friday, July 28th. They noted that the move was a valuation call. Sanford C. Bernstein set a $30.00 price target on shares of Intel Corporation and gave the company a “sell” rating in a report on Tuesday, August 15th. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $40.00 price target (up previously from $37.00) on shares of Intel Corporation in a report on Friday, October 6th. KeyCorp reaffirmed a “buy” rating and issued a $50.00 price target on shares of Intel Corporation in a report on Friday, October 27th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $43.00 price target on shares of Intel Corporation in a report on Friday, October 27th. Five equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, twenty-seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $43.40.
The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.27 and a current ratio of 1.60. The firm has a market cap of $210,319.19, a P/E ratio of 14.13, a PEG ratio of 1.64 and a beta of 1.09.
Intel Corporation (NASDAQ:INTC) last announced its quarterly earnings data on Thursday, October 26th. The chip maker reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.21. The business had revenue of $16.15 billion for the quarter, compared to the consensus estimate of $15.73 billion. Intel Corporation had a net margin of 22.31% and a return on equity of 22.65%. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.80 earnings per share. sell-side analysts expect that Intel Corporation will post 3.25 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Tuesday, November 7th will be paid a dividend of $0.2725 per share. This represents a $1.09 annualized dividend and a dividend yield of 2.44%. The ex-dividend date of this dividend is Monday, November 6th. Intel Corporation’s payout ratio is 38.11%.
In related news, Chairman Andy D. Bryant sold 89,087 shares of the company’s stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $44.80, for a total transaction of $3,991,097.60. Following the completion of the transaction, the chairman now owns 428,789 shares of the company’s stock, valued at $19,209,747.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brian M. Krzanich sold 61,860 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $38.74, for a total transaction of $2,396,456.40. Following the transaction, the chief executive officer now directly owns 543,948 shares of the company’s stock, valued at approximately $21,072,545.52. The disclosure for this sale can be found here. Insiders have sold 659,036 shares of company stock worth $28,872,880 in the last three months. Insiders own 0.08% of the company’s stock.
A number of hedge funds have recently modified their holdings of INTC. Lourd Capital LLC increased its position in Intel Corporation by 1.1% during the first quarter. Lourd Capital LLC now owns 9,094 shares of the chip maker’s stock worth $328,000 after purchasing an additional 99 shares during the last quarter. Virtu Financial LLC acquired a new stake in shares of Intel Corporation in the first quarter worth $822,000. Alerus Financial NA increased its position in shares of Intel Corporation by 3.5% in the first quarter. Alerus Financial NA now owns 66,462 shares of the chip maker’s stock worth $2,397,000 after acquiring an additional 2,238 shares in the last quarter. Vigilant Capital Management LLC increased its position in shares of Intel Corporation by 22.6% in the first quarter. Vigilant Capital Management LLC now owns 4,373 shares of the chip maker’s stock worth $158,000 after acquiring an additional 805 shares in the last quarter. Finally, Wetherby Asset Management Inc. increased its position in shares of Intel Corporation by 0.8% in the first quarter. Wetherby Asset Management Inc. now owns 91,792 shares of the chip maker’s stock worth $3,311,000 after acquiring an additional 706 shares in the last quarter. 66.90% of the stock is owned by hedge funds and other institutional investors.
About Intel Corporation
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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