Traders Sell Shares of Intel Corporation (INTC) on Strength (INTC)
Investors sold shares of Intel Corporation (NASDAQ:INTC) on strength during trading hours on Thursday. $111.65 million flowed into the stock on the tick-up and $182.39 million flowed out of the stock on the tick-down, for a money net flow of $70.74 million out of the stock. Of all stocks tracked, Intel Corporation had the 0th highest net out-flow for the day. Intel Corporation traded up $0.13 for the day and closed at $37.20
INTC has been the topic of several research reports. Zacks Investment Research downgraded shares of Intel Corporation from a “hold” rating to a “sell” rating in a report on Monday, July 17th. Stifel Nicolaus restated a “buy” rating and set a $39.00 price objective on shares of Intel Corporation in a report on Friday, July 14th. Bank of America Corporation downgraded shares of Intel Corporation from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $42.00 to $38.00 in a report on Wednesday, June 21st. Credit Suisse Group restated a “neutral” rating and set a $35.00 price objective on shares of Intel Corporation in a report on Tuesday, July 4th. Finally, ValuEngine downgraded shares of Intel Corporation from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Five investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $40.57.
The company’s 50 day moving average price is $35.74 and its 200 day moving average price is $35.53. The stock has a market capitalization 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 earnings per share (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 analyst estimates of $14.39 billion. During the same quarter in the prior year, the business posted $0.59 EPS. The business’s revenue was up 9.1% compared to the same quarter last year. On average, equities analysts expect that Intel Corporation will post $3.01 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Tuesday, November 7th will be paid a $0.2725 dividend. The ex-dividend date is Monday, November 6th. This represents a $1.09 annualized dividend and a dividend yield of 2.93%. Intel Corporation’s payout ratio is 41.76%.
In other news, insider Venkata S. M. Renduchintala sold 1,424 shares of the company’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $36.40, for a total value of $51,833.60. Following the completion of the sale, the insider now owns 1,536 shares in the company, valued at approximately $55,910.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Brian M. Krzanich sold 72,173 shares of the company’s stock in a transaction 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 completion of the sale, the chief executive officer now owns 534,746 shares of the company’s stock, valued at approximately $18,015,592.74. The disclosure for this sale can be found here. In the last quarter, insiders sold 91,921 shares of company stock valued at $3,130,162. Company insiders own 0.08% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of INTC. Watermark Asset Management Inc. purchased a new position in shares of Intel Corporation in the 1st quarter worth about $113,000. Acrospire Investment Management LLC boosted its holdings in shares of Intel Corporation by 111.8% in the 2nd quarter. Acrospire Investment Management LLC now owns 3,600 shares of the chip maker’s stock worth $121,000 after buying an additional 1,900 shares during the last quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. boosted its holdings in shares of Intel Corporation by 53.0% in the 1st quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 4,040 shares of the chip maker’s stock worth $146,000 after buying an additional 1,400 shares during the last quarter. Vigilant Capital Management LLC boosted its holdings in shares of Intel Corporation by 22.6% in the 1st quarter. Vigilant Capital Management LLC now owns 4,373 shares of the chip maker’s stock worth $158,000 after buying an additional 805 shares during the last quarter. Finally, Orrstown Financial Services Inc. boosted its holdings in shares of Intel Corporation by 23.0% in the 2nd quarter. Orrstown Financial Services Inc. now owns 4,582 shares of the chip maker’s stock worth $155,000 after buying an additional 857 shares during the last quarter. Hedge funds and other institutional investors own 67.03% 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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