Traders Buy Intel Corporation (INTC) on Weakness
Traders purchased shares of Intel Corporation (NASDAQ:INTC) on weakness during trading on Friday. $317.53 million flowed into the stock on the tick-up and $285.17 million flowed out of the stock on the tick-down, for a money net flow of $32.36 million into the stock. Of all stocks tracked, Intel Corporation had the 24th highest net in-flow for the day. Intel Corporation traded down ($1.02) for the day and closed at $44.63
A number of brokerages have issued reports on INTC. B. Riley reissued a “buy” rating and set a $46.00 target price on shares of Intel Corporation in a research note on Friday, July 28th. BidaskClub upgraded shares of Intel Corporation from a “hold” rating to a “buy” rating in a report on Thursday, August 10th. Vetr downgraded shares of Intel Corporation from a “strong-buy” rating to a “buy” rating and set a $40.26 price target on the stock. in a report on Tuesday, August 8th. Canaccord Genuity raised their price target on shares of Intel Corporation from $41.00 to $45.00 and gave the company a “hold” rating in a report on Friday. Finally, Sanford C. Bernstein set a $30.00 target price on shares of Intel Corporation and gave the stock a “sell” rating in a report on Tuesday, August 15th. Five 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 issued a strong buy rating to the company’s stock. Intel Corporation presently has a consensus rating of “Buy” and a consensus price target 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 company has a market cap of $208,868.41, a price-to-earnings ratio of 14.03, a P/E/G ratio of 1.63 and a beta of 1.09.
Intel Corporation (NASDAQ:INTC) last released its earnings results on Thursday, October 26th. The chip maker reported $1.01 EPS for the quarter, beating the consensus estimate of $0.80 by $0.21. Intel Corporation had a net margin of 22.31% and a return on equity of 22.65%. The firm had revenue of $16.15 billion for the quarter, compared to analyst estimates of $15.73 billion. During the same period last year, the firm earned $0.80 EPS. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. sell-side analysts forecast that Intel Corporation will post 3.25 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Tuesday, November 7th will be issued a $0.2725 dividend. This represents a $1.09 annualized dividend and a yield of 2.44%. The ex-dividend date is Monday, November 6th. Intel Corporation’s dividend payout ratio is currently 38.11%.
In other news, CEO Brian M. Krzanich sold 61,860 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $38.74, for a total value of $2,396,456.40. Following the sale, the chief executive officer now directly owns 543,948 shares in the company, valued at approximately $21,072,545.52. 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 that occurred on Tuesday, November 7th. The shares were sold at an average price of $46.73, for a total transaction of $66,543.52. Following the completion of the sale, the insider now owns 1,536 shares in the company, valued at $71,777.28. The disclosure for this sale can be found here. Over the last three months, insiders sold 659,036 shares of company stock worth $28,872,880. Insiders own 0.08% of the company’s stock.
A number of large investors have recently bought and sold shares of INTC. BTC Capital Management Inc. boosted its position in Intel Corporation by 0.9% during the 1st quarter. BTC Capital Management Inc. now owns 111,343 shares of the chip maker’s stock worth $4,016,000 after buying an additional 968 shares during the period. Wedgewood Investors Inc. PA boosted its position in Intel Corporation by 0.8% during the 1st quarter. Wedgewood Investors Inc. PA now owns 24,982 shares of the chip maker’s stock worth $901,000 after buying an additional 198 shares during the period. Callahan Advisors LLC boosted its position in Intel Corporation by 1.5% during the 1st quarter. Callahan Advisors LLC now owns 279,519 shares of the chip maker’s stock worth $10,082,000 after buying an additional 4,181 shares during the period. WealthTrust Axiom LLC boosted its position in Intel Corporation by 0.6% during the 1st quarter. WealthTrust Axiom LLC now owns 147,605 shares of the chip maker’s stock worth $5,324,000 after buying an additional 916 shares during the period. Finally, Dowling & Yahnke LLC raised its holdings in Intel Corporation by 1.4% during the 1st quarter. Dowling & Yahnke LLC now owns 196,323 shares of the chip maker’s stock worth $7,081,000 after purchasing an additional 2,682 shares during the last quarter. Institutional investors and hedge funds own 67.17% of the company’s stock.
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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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