Traders Buy Intel Corporation (INTC) on Weakness
Traders purchased shares of Intel Corporation (NASDAQ:INTC) on weakness during trading on Friday. $175.65 million flowed into the stock on the tick-up and $82.20 million flowed out of the stock on the tick-down, for a money net flow of $93.45 million into the stock. Of all equities tracked, Intel Corporation had the 6th highest net in-flow for the day. Intel Corporation traded down ($0.02) for the day and closed at $37.18
Several brokerages have recently weighed in on INTC. Jefferies Group LLC restated an “underperform” rating and issued 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 target price on shares of Intel Corporation and gave the company a “sell” rating in a research note on Tuesday, August 15th. Hilliard Lyons began coverage on shares of Intel Corporation in a research note on Wednesday, July 12th. They issued a “buy” rating and a $41.00 target price for the company. Canaccord Genuity reiterated a “hold” rating on shares of Intel Corporation in a research note on Saturday, June 3rd. Finally, Northland Securities set a $40.00 target price on shares of Intel Corporation and gave the company a “hold” rating in a research note on Friday, July 28th. Five analysts have rated the stock with a sell rating, fifteen have given a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the stock. Intel Corporation currently has a consensus rating of “Hold” and an average target price of $40.57.
The firm’s 50-day moving average is $35.74 and its 200 day moving average is $35.53. The company has a market cap of $174.71 billion, a PE ratio of 14.19 and a beta of 1.02.
Intel Corporation (NASDAQ:INTC) last posted its earnings results on Thursday, July 27th. The chip maker reported $0.72 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.04. Intel Corporation had a net margin of 20.60% and a return on equity of 21.86%. The firm had revenue of $14.76 billion during the quarter, compared to analysts’ expectations of $14.39 billion. During the same period last year, the company posted $0.59 EPS. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. Equities research analysts forecast that Intel Corporation will post $3.01 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Tuesday, November 7th will be given a $0.2725 dividend. The ex-dividend date of this dividend is Monday, November 6th. This represents a $1.09 annualized dividend and a dividend yield of 2.93%. Intel Corporation’s dividend payout ratio is 41.76%.
In other news, CEO Brian M. Krzanich sold 72,173 shares of the firm’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $33.69, for a total value of $2,431,508.37. Following the completion of 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 available at the SEC website. Also, insider Venkata S. M. Renduchintala sold 1,424 shares of the firm’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $36.40, for a total transaction of $51,833.60. Following the completion of the sale, the insider now directly owns 1,536 shares of the company’s stock, valued at $55,910.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 91,921 shares of company stock valued at $3,130,162. Corporate insiders own 0.08% of the company’s stock.
Several large investors have recently bought and sold shares of INTC. Watermark Asset Management Inc. purchased a new position in Intel Corporation during the 1st quarter valued at about $113,000. Acrospire Investment Management LLC lifted its position in Intel Corporation by 111.8% during the 2nd quarter. Acrospire Investment Management LLC now owns 3,600 shares of the chip maker’s stock valued at $121,000 after acquiring an additional 1,900 shares during the period. Mitsubishi UFJ Securities Holdings Co. Ltd. lifted its position in Intel Corporation by 53.0% during the 1st quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 4,040 shares of the chip maker’s stock valued at $146,000 after acquiring an additional 1,400 shares during the period. Orrstown Financial Services Inc. lifted its position in Intel Corporation by 23.0% during the 2nd quarter. Orrstown Financial Services Inc. now owns 4,582 shares of the chip maker’s stock valued at $155,000 after acquiring an additional 857 shares during the period. Finally, Winfield Associates Inc. lifted its position in Intel Corporation by 6.0% during the 2nd quarter. Winfield Associates Inc. now owns 4,651 shares of the chip maker’s stock valued at $156,000 after acquiring an additional 265 shares during the period. 67.03% of the stock is owned by hedge funds and other institutional investors.
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).
Receive News & Ratings for Intel Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intel Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.