Intel Corp. (INTC) Sees Unusually-High Trading Volume Following Better-Than-Expected Earnings
Intel Corp. (NASDAQ:INTC) shares saw an uptick in trading volume on Tuesday following a better than expected earnings announcement. 39,117,478 shares changed hands during trading, an increase of 81% from the previous session’s volume of 21,573,724 shares.The stock last traded at $37.75 and had previously closed at $37.29.
The chip maker reported $0.80 EPS for the quarter, topping the consensus estimate of $0.72 by $0.08. Intel Corp. had a net margin of 17.84% and a return on equity of 19.99%.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Monday, November 7th will be given a $0.26 dividend. The ex-dividend date is Thursday, November 3rd. This represents a $1.04 annualized dividend and a dividend yield of 2.75%. Intel Corp.’s dividend payout ratio is presently 50.24%.
A number of research firms have issued reports on INTC. Sanford C. Bernstein restated an “underperform” rating and issued a $26.00 target price on shares of Intel Corp. in a report on Monday, June 20th. Zacks Investment Research upgraded shares of Intel Corp. from a “hold” rating to a “buy” rating and set a $36.00 target price on the stock in a report on Tuesday, June 21st. Vetr lowered shares of Intel Corp. from a “buy” rating to a “hold” rating and set a $32.02 target price on the stock. in a report on Wednesday, June 22nd. Argus restated a “buy” rating and issued a $41.00 target price on shares of Intel Corp. in a report on Wednesday, June 29th. Finally, Citigroup Inc. restated a “neutral” rating and issued a $35.00 target price (up from $31.00) on shares of Intel Corp. in a report on Thursday, June 30th. Three analysts have rated the stock with a sell rating, fifteen have issued a hold rating and thirty-three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $40.00.
In other news, CEO Brian M. Krzanich sold 67,508 shares of Intel Corp. stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $37.71, for a total transaction of $2,545,726.68. Following the sale, the chief executive officer now owns 420,506 shares of the company’s stock, valued at approximately $15,857,281.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through 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 stock was sold at an average price of $34.69, for a total value of $15,440,345.55. Following the sale, the chairman now directly owns 399,557 shares in the company, valued at approximately $13,860,632.33. The disclosure for this sale can be found here. 0.09% of the stock is owned by corporate insiders.
Several hedge funds have recently made changes to their positions in INTC. James Investment Research Inc. raised its stake in shares of Intel Corp. by 12.8% in the second quarter. James Investment Research Inc. now owns 661,825 shares of the chip maker’s stock valued at $21,708,000 after buying an additional 75,124 shares during the last quarter. Park National Corp OH raised its stake in shares of Intel Corp. by 2.7% in the second quarter. Park National Corp OH now owns 813,717 shares of the chip maker’s stock valued at $26,689,000 after buying an additional 21,481 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in shares of Intel Corp. by 5.2% in the second quarter. Nisa Investment Advisors LLC now owns 1,796,286 shares of the chip maker’s stock valued at $58,917,000 after buying an additional 89,568 shares during the last quarter. NN Investment Partners Holdings N.V. purchased a new stake in shares of Intel Corp. during the first quarter valued at $132,302,000. Finally, CIBC World Markets Inc. raised its stake in shares of Intel Corp. by 14.2% in the second quarter. CIBC World Markets Inc. now owns 532,676 shares of the chip maker’s stock valued at $17,472,000 after buying an additional 66,041 shares during the last quarter. 64.82% of the stock is currently owned by institutional investors.
The stock has a market cap of $178.60 billion, a P/E ratio of 18.31 and a beta of 1.09. The firm has a 50 day moving average of $36.91 and a 200 day moving average of $33.70.
Intel Corp. Company Profile
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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