Traders Buy Shares of Intel Corp. (INTC) on Weakness
Investors purchased shares of Intel Corp. (NASDAQ:INTC) on weakness during trading hours on Monday. $136.16 million flowed into the stock on the tick-up and $90.02 million flowed out of the stock on the tick-down, for a money net flow of $46.14 million into the stock. Of all stocks tracked, Intel Corp. had the 3rd highest net in-flow for the day. Intel Corp. traded down ($0.02) for the day and closed at $35.05
A number of research firms have issued reports on INTC. Brean Capital reaffirmed a “buy” rating on shares of Intel Corp. in a report on Monday. Canaccord Genuity lifted their price objective on shares of Intel Corp. from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Monday. Royal Bank Of Canada lifted their price objective on shares of Intel Corp. from $34.00 to $36.00 and gave the stock a “sector perform” rating in a report on Monday. Citigroup Inc. reaffirmed a “neutral” rating and set a $35.00 price objective on shares of Intel Corp. in a report on Tuesday, July 12th. Finally, Cowen and Company reaffirmed a “market perform” rating and set a $36.00 price objective (up from $32.00) on shares of Intel Corp. in a report on Monday, July 11th. Four investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and thirty have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $36.22.
The firm has a 50 day moving average of $32.61 and a 200 day moving average of $31.26. The stock has a market capitalization of $165.51 billion and a price-to-earnings ratio of 14.97.
Intel Corp. (NASDAQ:INTC) last released its earnings results on Tuesday, April 19th. The chip maker reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.06. The firm earned $13.80 billion during the quarter, compared to analysts’ expectations of $13.83 billion. The business’s revenue was up 8.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.41 EPS. On average, equities analysts predict that Intel Corp. will post $2.41 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 1st. Stockholders of record on Sunday, August 7th will be given a $0.26 dividend. The ex-dividend date is Wednesday, August 3rd. This represents a $1.04 annualized dividend and a dividend yield of 2.97%.
In other news, CEO Brian M. Krzanich sold 71,413 shares of the firm’s stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $32.73, for a total value of $2,337,347.49. Following the transaction, the chief executive officer now owns 435,796 shares in the company, valued at $14,263,603.08. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP William M. Holt sold 4,603 shares of the firm’s stock in a transaction that occurred on Tuesday, April 26th. The shares were sold at an average price of $31.35, for a total value of $144,304.05. Following the completion of the transaction, the vice president now owns 22,131 shares in the company, valued at approximately $693,806.85. The disclosure for this sale can be found here.
Other institutional investors have recently added to or reduced their stakes in the company. Linscomb & Williams Inc. increased its position in Intel Corp. by 2.0% in the fourth quarter. Linscomb & Williams Inc. now owns 108,020 shares of the chip maker’s stock valued at $3,721,000 after buying an additional 2,110 shares during the period. Wedge Capital Management L L P NC bought a new stake in Intel Corp. during the fourth quarter valued at approximately $39,295,000. Simmons First Trust Co. NA boosted its stake in Intel Corp. by 119.9% in the fourth quarter. Simmons First Trust Co. NA now owns 211,274 shares of the chip maker’s stock valued at $7,278,000 after buying an additional 115,208 shares in the last quarter. Swiss National Bank boosted its stake in Intel Corp. by 2.1% in the fourth quarter. Swiss National Bank now owns 8,641,802 shares of the chip maker’s stock valued at $297,710,000 after buying an additional 176,100 shares in the last quarter. Finally, Korea Investment CORP boosted its stake in Intel Corp. by 8.3% in the fourth quarter. Korea Investment CORP now owns 2,359,974 shares of the chip maker’s stock valued at $81,301,000 after buying an additional 180,400 shares in 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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