Traders Buy Shares of Intel Corp. (INTC) on Weakness
Traders purchased shares of Intel Corp. (NASDAQ:INTC) on weakness during trading on Friday. $153.74 million flowed into the stock on the tick-up and $85.47 million flowed out of the stock on the tick-down, for a money net flow of $68.27 million into the stock. Of all stocks tracked, Intel Corp. had the 20th highest net in-flow for the day. Intel Corp. traded down ($0.13) for the day and closed at $35.07
INTC has been the subject of a number of analyst reports. Summit Research lowered their price objective on Intel Corp. to $38.00 and set a “buy” rating for the company in a research report on Tuesday, March 22nd. Robert W. Baird restated an “outperform” rating and set a $38.00 price objective on shares of Intel Corp. in a research report on Sunday, March 20th. Sterne Agee CRT restated a “buy” rating and set a $38.00 price objective on shares of Intel Corp. in a research report on Tuesday, April 5th. Royal Bank Of Canada raised their price objective on Intel Corp. from $31.00 to $33.00 and gave the stock a “sector perform” rating in a research report on Friday, April 1st. Finally, Sanford C. Bernstein reiterated a “sell” rating on shares of Intel Corp. in a report on Tuesday, April 5th. Four equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and thirty have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $36.13.
The firm has a market cap of $165.60 billion and a price-to-earnings ratio of 14.98. The company’s 50 day moving average is $32.43 and its 200 day moving average is $31.29.
Intel Corp. (NASDAQ:INTC) last announced its quarterly earnings results on Tuesday, April 19th. The chip maker reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.06. The firm earned $13.80 billion during the quarter, compared to analysts’ expectations of $13.83 billion. During the same quarter in the previous year, the firm posted $0.41 EPS. The firm’s revenue for the quarter was up 8.0% on a year-over-year basis. Analysts anticipate that Intel Corp. will post $2.41 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 1st. Investors of record on Sunday, August 7th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 2.97%. The ex-dividend date of this dividend is Wednesday, August 3rd.
In related news, Chairman Andy D. Bryant sold 185,740 shares of the business’s stock in a transaction that occurred on Thursday, April 21st. The shares were sold at an average price of $31.98, for a total value of $5,939,965.20. Following the completion of the transaction, the chairman now owns 386,731 shares of the company’s stock, valued at $12,367,657.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Brian M. Krzanich sold 71,413 shares of the business’s stock in a transaction that occurred on Monday, May 23rd. The stock was sold at an average price of $30.35, for a total transaction of $2,167,384.55. Following the completion of the transaction, the chief executive officer now directly owns 462,054 shares of the company’s stock, valued at approximately $14,023,338.90. The disclosure for this sale can be found here.
A number of institutional investors have modified their holdings of the company. Balasa Dinverno & Foltz LLC increased its position in shares of Intel Corp. by 0.4% in the fourth quarter. Balasa Dinverno & Foltz LLC now owns 50,276 shares of the chip maker’s stock worth $1,732,000 after buying an additional 208 shares during the period. Bollard Group LLC increased its position in shares of Intel Corp. by 0.7% in the fourth quarter. Bollard Group LLC now owns 31,159 shares of the chip maker’s stock worth $1,073,000 after buying an additional 215 shares during the last quarter. Holderness Investments Co. increased its position in shares of Intel Corp. by 0.3% in the fourth quarter. Holderness Investments Co. now owns 77,832 shares of the chip maker’s stock worth $2,681,000 after buying an additional 237 shares during the last quarter. Johnson Financial Group Inc. increased its position in shares of Intel Corp. by 0.3% in the fourth quarter. Johnson Financial Group Inc. now owns 107,153 shares of the chip maker’s stock worth $3,691,000 after buying an additional 364 shares during the last quarter. Finally, Horizon Investments LLC increased its position in shares of Intel Corp. by 0.8% in the fourth quarter. Horizon Investments LLC now owns 56,026 shares of the chip maker’s stock worth $1,930,000 after buying an additional 423 shares during the last quarter.
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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