Investors Buy Intel Corp. (INTC) on Weakness
Traders purchased shares of Intel Corp. (NASDAQ:INTC) on weakness during trading on Wednesday. $100.74 million flowed into the stock on the tick-up and $70.18 million flowed out of the stock on the tick-down, for a money net flow of $30.56 million into the stock. Of all stocks tracked, Intel Corp. had the 10th highest net in-flow for the day. Intel Corp. traded down ($0.19) for the day and closed at $35.02
A number of research analysts have issued reports on INTC shares. Wells Fargo & Co. reiterated a “buy” rating on shares of Intel Corp. in a research note on Wednesday, April 20th. B. Riley restated a “buy” rating and issued a $42.00 price target on shares of Intel Corp. in a research note on Wednesday. JPMorgan Chase & Co. boosted their price target on Intel Corp. from $38.00 to $39.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 20th. Citigroup Inc. restated a “neutral” rating and issued a $35.00 price target on shares of Intel Corp. in a research note on Wednesday. Finally, Mizuho restated a “buy” rating and issued a $36.00 price target on shares of Intel Corp. in a research note on Friday, April 22nd. Four investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and twenty-nine have issued a buy rating to the company’s stock. Intel Corp. has an average rating of “Buy” and an average target price of $36.96.
The stock has a 50 day moving average of $34.46 and a 200-day moving average of $31.84. The stock has a market cap of $165.68 billion and a P/E ratio of 16.98.
Intel Corp. (NASDAQ:INTC) last announced its earnings results on Wednesday, July 20th. The chip maker reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.06. The business had revenue of $13.50 billion for the quarter, compared to analyst estimates of $13.54 billion. Intel Corp.’s quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter last year, the company posted $0.55 EPS. On average, equities analysts anticipate that Intel Corp. will post $2.50 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 1st. Stockholders of record on Sunday, August 7th will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Wednesday, August 3rd. This represents a $1.04 annualized dividend and a dividend yield of 2.97%.
In related news, VP Gregory R. Pearson sold 1,506 shares of the stock in a transaction dated Friday, July 22nd. The shares were sold at an average price of $34.46, for a total transaction of $51,896.76. Following the completion of the transaction, the vice president now directly owns 84,505 shares of the company’s stock, valued at $2,912,042.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Brian M. Krzanich sold 71,413 shares of the stock in a transaction dated 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 transaction, the chief executive officer now directly owns 462,054 shares of the company’s stock, valued at $14,023,338.90. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors have recently bought and sold shares of INTC. Cobblestone Capital Advisors LLC NY boosted its position in Intel Corp. by 11.0% in the fourth quarter. Cobblestone Capital Advisors LLC NY now owns 29,280 shares of the chip maker’s stock valued at $1,009,000 after buying an additional 2,913 shares in the last quarter. Bollard Group LLC boosted its position in Intel Corp. by 0.7% in the fourth quarter. Bollard Group LLC now owns 31,159 shares of the chip maker’s stock valued at $1,073,000 after buying an additional 215 shares in the last quarter. Birch Hill Investment Advisors LLC boosted its position in Intel Corp. by 1.9% in the fourth quarter. Birch Hill Investment Advisors LLC now owns 31,973 shares of the chip maker’s stock valued at $1,101,000 after buying an additional 600 shares in the last quarter. Buckingham Asset Management LLC boosted its position in Intel Corp. by 3.3% in the fourth quarter. Buckingham Asset Management LLC now owns 34,721 shares of the chip maker’s stock valued at $1,196,000 after buying an additional 1,114 shares in the last quarter. Finally, Bronfman E.L. Rothschild L.P. purchased a new position in Intel Corp. during the fourth quarter valued at about $1,312,000.
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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