Investors Sell Intel Corp. (INTC) on Strength Following Insider Selling
Traders sold shares of Intel Corp. (NASDAQ:INTC) on strength during trading hours on Thursday following insider selling activity. $73.71 million flowed into the stock on the tick-up and $105.10 million flowed out of the stock on the tick-down, for a money net flow of $31.39 million out of the stock. Of all equities tracked, Intel Corp. had the 0th highest net out-flow for the day. Intel Corp. traded up $0.08 for the day and closed at $38.07Specifically, VP Gregory R. Pearson sold 1,506 shares of the company’s stock in a transaction that occurred on Friday, July 22nd. The stock was sold at an average price of $34.46, for a total value of $51,896.76. Following the sale, the vice president now owns 84,505 shares in the company, valued at approximately $2,912,042.30. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Brian M. Krzanich sold 67,508 shares of the company’s stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $37.71, for a total value of $2,545,726.68. Following the completion of the sale, the chief executive officer now owns 420,506 shares in the company, valued at approximately $15,857,281.26. The disclosure for this sale can be found here. 0.09% of the stock is owned by corporate insiders.
INTC has been the topic of several recent research reports. Zacks Investment Research upgraded Intel Corp. from a “hold” rating to a “buy” rating and set a $42.00 price objective on the stock in a research report on Monday, September 26th. Vetr lowered Intel Corp. from a “hold” rating to a “sell” rating and set a $34.32 price objective on the stock. in a research report on Monday, August 29th. Wells Fargo & Co. restated a “buy” rating on shares of Intel Corp. in a research report on Sunday, September 4th. BlueFin Research restated a “buy” rating on shares of Intel Corp. in a research report on Monday. Finally, Morgan Stanley restated an “underweight” rating and issued a $31.00 price objective on shares of Intel Corp. in a research report on Wednesday, September 14th. Three research analysts have rated the stock with a sell rating, sixteen have given a hold rating, thirty-two have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $39.59.
The company has a market cap of $180.11 billion, a price-to-earnings ratio of 18.46 and a beta of 1.09. The firm has a 50 day moving average price of $36.46 and a 200 day moving average price of $33.43.
Intel Corp. (NASDAQ:INTC) last released its quarterly earnings data on Wednesday, July 20th. The chip maker reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.06. The company had revenue of $13.50 billion for the quarter, compared to the consensus estimate of $13.54 billion. Intel Corp. had a return on equity of 19.99% and a net margin of 17.84%. The company’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.55 earnings per share. On average, equities analysts predict that Intel Corp. will post $2.58 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Monday, November 7th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date is Thursday, November 3rd. Intel Corp.’s payout ratio is 50.24%.
A number of large investors have recently added to or reduced their stakes in INTC. Carnick & Kubik LLC purchased a new position in Intel Corp. during the first quarter worth about $100,000. Global X Management Co. LLC boosted its position 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 during the period. Penserra Capital Management LLC boosted its position 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 during the period. Nelson Roberts Investment Advisors LLC boosted its position 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 during the period. Finally, Proficio Capital Partners LLC boosted its position 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 during the period. 64.77% of the stock is currently owned by institutional investors.
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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