Traders Sell Shares of Intel Corp. (INTC) on Strength (INTC)
Investors sold shares of Intel Corp. (NASDAQ:INTC) on strength during trading on Friday. $60.83 million flowed into the stock on the tick-up and $92.76 million flowed out of the stock on the tick-down, for a money net flow of $31.93 million out of the stock. Of all stocks tracked, Intel Corp. had the 0th highest net out-flow for the day. Intel Corp. traded up $0.17 for the day and closed at $35.26
INTC has been the subject of several research reports. Royal Bank Of Canada restated a “hold” rating on shares of Intel Corp. in a report on Saturday, July 9th. B. Riley restated a “buy” rating and set a $42.00 price target on shares of Intel Corp. in a report on Tuesday, July 26th. Sterne Agee CRT restated a “buy” rating on shares of Intel Corp. in a report on Tuesday, May 3rd. Argus restated a “buy” rating and set a $41.00 price target on shares of Intel Corp. in a report on Monday, July 25th. Finally, Sanford C. Bernstein set a $31.00 price target on shares of Intel Corp. and gave the stock a “hold” rating in a report on Thursday, July 21st. Three investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and twenty-nine have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $37.09.
The stock has a market cap of $166.82 billion and a PE ratio of 17.10. The company’s 50 day moving average price is $34.90 and its 200 day moving average price is $32.10.
Intel Corp. (NASDAQ:INTC) last issued its quarterly earnings results on Wednesday, July 20th. The chip maker reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.06. The firm had revenue of $13.50 billion for the quarter, compared to analysts’ expectations of $13.54 billion. During the same period in the prior year, the company earned $0.55 EPS. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. On average, equities research analysts anticipate that Intel Corp. will post $2.50 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 1st. Stockholders of record on Sunday, August 7th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Wednesday, August 3rd. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.95%.
In related news, CEO Brian M. Krzanich sold 71,413 shares of the stock in a transaction dated Friday, July 1st. The stock was sold at an average price of $32.73, for a total transaction of $2,337,347.49. Following the sale, the chief executive officer now owns 435,796 shares of the company’s stock, valued at approximately $14,263,603.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Venkata S. M. Renduchintala sold 13,997 shares of the stock in a transaction dated Thursday, July 28th. The stock was sold at an average price of $34.71, for a total value of $485,835.87. The disclosure for this sale can be found here.
A number of hedge funds recently modified their holdings of INTC. Vanguard Group Inc. boosted its stake in shares of Intel Corp. by 2.3% in the fourth quarter. Vanguard Group Inc. now owns 283,264,301 shares of the chip maker’s stock worth $9,758,455,000 after buying an additional 6,429,434 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Intel Corp. by 3.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 33,438,685 shares of the chip maker’s stock worth $1,152,136,000 after buying an additional 1,157,603 shares during the period. ProShare Advisors LLC boosted its stake in shares of Intel Corp. by 0.3% in the fourth quarter. ProShare Advisors LLC now owns 2,671,825 shares of the chip maker’s stock worth $92,044,000 after buying an additional 7,527 shares during the period. BNP Paribas Arbitrage SA boosted its stake in shares of Intel Corp. by 83.5% in the fourth quarter. BNP Paribas Arbitrage SA now owns 2,161,750 shares of the chip maker’s stock worth $74,472,000 after buying an additional 983,566 shares during the period. Finally, GAM Holding AG boosted its stake in shares of Intel Corp. by 50.8% in the fourth quarter. GAM Holding AG now owns 2,066,066 shares of the chip maker’s stock worth $71,172,000 after buying an additional 696,299 shares during the period.
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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