Traders Sell Shares of Intel Corp. (INTC) on Strength (INTC)
Investors sold shares of Intel Corp. (NASDAQ:INTC) on strength during trading hours on Monday. $77.28 million flowed into the stock on the tick-up and $121.32 million flowed out of the stock on the tick-down, for a money net flow of $44.04 million out of the stock. Of all companies tracked, Intel Corp. had the 0th highest net out-flow for the day. Intel Corp. traded up $0.34 for the day and closed at $34.91
Several brokerages have issued reports on INTC. Wells Fargo & Co. reaffirmed a “buy” rating on shares of Intel Corp. in a report on Wednesday, April 20th. JPMorgan Chase & Co. upped their price target on shares of Intel Corp. from $38.00 to $39.00 and gave the company an “overweight” rating in a report on Wednesday, April 20th. Cowen and Company reaffirmed an “in-line” rating and issued a $33.00 price target on shares of Intel Corp. in a report on Monday, April 18th. Mizuho reaffirmed a “buy” rating and issued a $36.00 price target on shares of Intel Corp. in a report on Friday, April 22nd. Finally, Sanford C. Bernstein reaffirmed a “sell” rating on shares of Intel Corp. in a report on Monday, June 13th. Four analysts have rated the stock with a sell rating, seventeen have given a hold rating and twenty-nine have assigned a buy rating to the company’s stock. Intel Corp. presently has an average rating of “Buy” and an average target price of $36.96.
The stock has a market cap of $165.11 billion and a price-to-earnings ratio of 16.93. The firm has a 50 day moving average price of $34.22 and a 200-day moving average price of $31.78.
Intel Corp. (NASDAQ:INTC) last announced its quarterly earnings data on Wednesday, July 20th. The chip maker reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.06. During the same quarter in the previous year, the business posted $0.55 EPS. The company earned $13.50 billion during the quarter, compared to analyst estimates of $13.54 billion. The company’s revenue was up 2.6% on a year-over-year basis. Equities analysts expect that Intel Corp. will post $2.50 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 1st. Stockholders of record on Sunday, August 7th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, August 3rd. This represents a $1.04 annualized dividend and a dividend yield of 2.98%.
In other news, Chairman Andy D. Bryant sold 445,095 shares of the firm’s stock in a transaction on Monday, July 25th. The shares were sold at an average price of $34.69, for a total value of $15,440,345.55. Following the sale, the chairman now owns 399,557 shares in the company, valued at $13,860,632.33. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Gregory R. Pearson sold 1,506 shares of the firm’s stock in a transaction on Friday, July 22nd. The stock was sold at an average price of $34.46, for a total transaction of $51,896.76. Following the completion of the sale, the vice president now owns 84,505 shares in the company, valued at approximately $2,912,042.30. The disclosure for this sale can be found here.
Several large investors recently made changes to their positions in INTC. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Intel Corp. by 57.9% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 648,775 shares of the chip maker’s stock valued at $22,350,000 after buying an additional 237,800 shares during the last quarter. Farr Miller & Washington LLC DC increased its stake in Intel Corp. by 1.0% in the fourth quarter. Farr Miller & Washington LLC DC now owns 74,835 shares of the chip maker’s stock worth $2,578,000 after buying an additional 760 shares in the last quarter. Frontier Investment Mgmt Co. increased its stake in Intel Corp. by 34.2% in the fourth quarter. Frontier Investment Mgmt Co. now owns 519,169 shares of the chip maker’s stock worth $17,854,000 after buying an additional 132,269 shares in the last quarter. King Luther Capital Management Corp increased its stake in Intel Corp. by 4.6% in the fourth quarter. King Luther Capital Management Corp now owns 144,186 shares of the chip maker’s stock worth $4,967,000 after buying an additional 6,308 shares in the last quarter. Finally, Autus Asset Management LLC increased its stake in Intel Corp. by 283.4% in the fourth quarter. Autus Asset Management LLC now owns 53,869 shares of the chip maker’s stock worth $1,856,000 after buying an additional 39,819 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.