Traders Sell Intel Corp. (INTC) on Strength Following Insider Selling
Investors sold shares of Intel Corp. (NASDAQ:INTC) on strength during trading on Wednesday following insider selling activity. $101.27 million flowed into the stock on the tick-up and $163.68 million flowed out of the stock on the tick-down, for a money net flow of $62.41 million out of the stock. Of all companies tracked, Intel Corp. had the 0th highest net out-flow for the day. Intel Corp. traded up $0.45 for the day and closed at $37.99Specifically, VP Gregory R. Pearson sold 1,506 shares of Intel Corp. stock in a transaction that occurred on Friday, July 22nd. The stock was sold at an average price of $34.46, for a total transaction of $51,896.76. Following the sale, the vice president now directly owns 84,505 shares in the company, valued at $2,912,042.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Andy D. Bryant sold 445,095 shares of Intel Corp. stock in a transaction that occurred on Monday, July 25th. The shares were sold at an average price of $34.69, for a total value of $15,440,345.55. Following the sale, the chairman now owns 399,557 shares in the company, valued at $13,860,632.33. The disclosure for this sale can be found here. 0.09% of the stock is owned by insiders.
Several equities research analysts recently weighed in on INTC shares. B. Riley restated a “buy” rating and set a $42.00 price target on shares of Intel Corp. in a research report on Wednesday, August 17th. Robert W. Baird lifted their price target on Intel Corp. from $40.00 to $42.00 and gave the company an “outperform” rating in a research report on Monday, September 19th. Brean Capital restated a “buy” rating and set a $40.00 price target (up from $38.00) on shares of Intel Corp. in a research report on Thursday, September 22nd. Zacks Investment Research upgraded Intel Corp. from a “hold” rating to a “buy” rating and set a $42.00 price target on the stock in a research report on Monday, September 26th. Finally, Citigroup Inc. restated a “neutral” rating and set a $35.00 price target on shares of Intel Corp. in a research report on Wednesday, August 17th. Three analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, thirty-two have issued a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $39.59.
The stock has a 50-day moving average of $36.38 and a 200-day moving average of $33.40. The stock has a market capitalization of $179.73 billion, a PE ratio of 18.42 and a beta of 1.09.
Intel Corp. (NASDAQ:INTC) last released its quarterly earnings results on Wednesday, July 20th. The chip maker reported $0.59 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.06. Intel Corp. had a net margin of 17.84% and a return on equity of 19.99%. The business had revenue of $13.50 billion for the quarter, compared to analyst estimates of $13.54 billion. During the same quarter in the previous year, the business earned $0.55 earnings per share. The firm’s revenue was up 2.6% compared to the same quarter last year. Equities analysts predict that Intel Corp. will post $2.58 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Monday, November 7th will be issued a dividend of $0.26 per share. The ex-dividend date is Thursday, November 3rd. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.74%. Intel Corp.’s dividend payout ratio is currently 50.24%.
Large investors have recently added to or reduced their stakes in the stock. Carnick & Kubik LLC purchased a new stake in Intel Corp. during the first quarter worth about $100,000. Global X Management Co. LLC raised its stake in Intel Corp. by 52.0% in the second quarter. Global X Management Co. LLC now owns 3,037 shares of the chip maker’s stock worth $100,000 after buying an additional 1,039 shares in the last quarter. Penserra Capital Management LLC raised its stake in Intel Corp. by 36.3% in the second quarter. Penserra Capital Management LLC now owns 3,178 shares of the chip maker’s stock worth $104,000 after buying an additional 847 shares in the last quarter. Nelson Roberts Investment Advisors LLC raised its stake in Intel Corp. by 55.3% in the second quarter. Nelson Roberts Investment Advisors LLC now owns 3,443 shares of the chip maker’s stock worth $113,000 after buying an additional 1,226 shares in the last quarter. Finally, Proficio Capital Partners LLC raised its stake in Intel Corp. by 143.0% in the second quarter. Proficio Capital Partners LLC now owns 3,395 shares of the chip maker’s stock worth $118,000 after buying an additional 1,998 shares in the last quarter. Institutional investors and hedge funds own 64.77% of the company’s stock.
About Intel Corp.
Intel Corporation is engaged in the design and manufacture of digital technology platforms. The Company’s segments include Client Computing Group (CCG), Data Center Group (DCG), Internet of Things Group (IOTG), Software and Services (SSG) and All Other. CCG segment includes platforms designed for notebooks (including Ultrabook devices), 2 in 1 systems, desktops (including all-in-ones and personal computers (PCs)), tablets, phones, wireless and wired connectivity products, and mobile communication components.
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