Investors Buy Large Volume of Put Options on Intel Corporation (INTC)
Intel Corporation (NASDAQ:INTC) saw some unusual options trading activity on Tuesday. Stock traders acquired 21,588 put options on the company. This represents an increase of 118% compared to the typical volume of 9,902 put options.
A number of equities research analysts have recently weighed in on the stock. Jefferies Group LLC set a $38.00 price target on shares of Intel Corporation and gave the company a “hold” rating in a research report on Saturday, June 3rd. B. Riley reiterated a “buy” rating and issued a $46.00 price target on shares of Intel Corporation in a research report on Friday, July 28th. Bank of America Corporation downgraded shares of Intel Corporation from a “buy” rating to a “neutral” rating and dropped their price target for the company from $42.00 to $38.00 in a research report on Wednesday, June 21st. Vetr upgraded shares of Intel Corporation from a “buy” rating to a “strong-buy” rating and set a $40.45 price target for the company in a research report on Monday, June 12th. Finally, Summit Redstone reiterated a “hold” rating on shares of Intel Corporation in a research report on Saturday, July 22nd. Six equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, twenty-eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Intel Corporation presently has an average rating of “Hold” and an average target price of $40.55.
In other news, CEO Brian M. Krzanich sold 72,173 shares of Intel Corporation stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $33.69, for a total value of $2,431,508.37. Following the completion of the sale, the chief executive officer now directly owns 534,746 shares in the company, valued at $18,015,592.74. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Venkata S. M. Renduchintala sold 13,996 shares of Intel Corporation stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $35.47, for a total transaction of $496,438.12. Following the completion of the sale, the insider now owns 1,536 shares of the company’s stock, valued at $54,481.92. The disclosure for this sale can be found here. Over the last quarter, insiders sold 91,921 shares of company stock valued at $3,130,162. 0.08% of the stock is owned by company insiders.
A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in Intel Corporation by 2.5% during the second quarter. Vanguard Group Inc. now owns 333,500,073 shares of the chip maker’s stock valued at $11,252,292,000 after buying an additional 8,087,302 shares during the last quarter. Capital World Investors increased its holdings in Intel Corporation by 5.5% during the second quarter. Capital World Investors now owns 197,750,361 shares of the chip maker’s stock valued at $6,672,097,000 after buying an additional 10,257,260 shares during the last quarter. Capital Research Global Investors increased its holdings in Intel Corporation by 9.1% during the second quarter. Capital Research Global Investors now owns 128,581,621 shares of the chip maker’s stock valued at $4,338,344,000 after buying an additional 10,744,753 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Intel Corporation by 0.4% during the second quarter. Dimensional Fund Advisors LP now owns 50,601,299 shares of the chip maker’s stock valued at $1,707,253,000 after buying an additional 177,919 shares during the last quarter. Finally, Legal & General Group Plc increased its holdings in Intel Corporation by 1.6% during the second quarter. Legal & General Group Plc now owns 25,508,803 shares of the chip maker’s stock valued at $860,658,000 after buying an additional 412,747 shares during the last quarter. 67.09% of the stock is owned by institutional investors and hedge funds.
Intel Corporation (NASDAQ:INTC) opened at 35.54 on Friday. The company has a 50-day moving average of $35.40 and a 200 day moving average of $35.53. Intel Corporation has a 12-month low of $33.23 and a 12-month high of $38.45. The company has a market capitalization of $167.00 billion, a P/E ratio of 13.56 and a beta of 1.02.
Intel Corporation (NASDAQ:INTC) last announced its earnings results on Thursday, July 27th. The chip maker reported $0.72 EPS for the quarter, beating the Zacks’ 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 business had revenue of $14.76 billion during the quarter, compared to analysts’ expectations of $14.39 billion. During the same period in the prior year, the company earned $0.59 earnings per share. The firm’s revenue was up 9.1% on a year-over-year basis. Equities research analysts forecast that Intel Corporation will post $3.01 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Monday, August 7th were issued a dividend of $0.2725 per share. The ex-dividend date was Thursday, August 3rd. This represents a $1.09 dividend on an annualized basis and a yield of 3.07%. Intel Corporation’s dividend payout ratio is currently 41.76%.
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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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