Traders Sell Shares of Intel Corp. (INTC) on Strength (INTC)
Traders sold shares of Intel Corp. (NASDAQ:INTC) on strength during trading hours on Friday. $52.65 million flowed into the stock on the tick-up and $73.97 million flowed out of the stock on the tick-down, for a money net flow of $21.32 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 $0.06 for the day and closed at $36.08
A number of equities research analysts have weighed in on the company. Bank of America Corp. reiterated a “buy” rating and issued a $42.00 target price on shares of Intel Corp. in a report on Sunday. Wells Fargo & Co. restated a “buy” rating on shares of Intel Corp. in a report on Sunday. Vetr upgraded Intel Corp. from a “sell” rating to a “hold” rating and set a $35.27 price objective for the company in a report on Thursday. Roth Capital assumed coverage on Intel Corp. in a report on Thursday. They set a “buy” rating and a $40.00 price objective for the company. Finally, RBC Capital Markets restated a “sector perform” rating and set a $36.00 price objective on shares of Intel Corp. in a report on Wednesday. Three equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and twenty-nine have assigned a buy rating to the stock. Intel Corp. presently has an average rating of “Buy” and an average target price of $37.45.
The stock’s 50 day moving average price is $35.02 and its 200 day moving average price is $32.31. The stock has a market capitalization of $170.69 billion and a PE ratio of 17.50.
Intel Corp. (NASDAQ:INTC) last issued its quarterly earnings results on Wednesday, July 20th. The chip maker reported $0.59 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.06. The company earned $13.50 billion during the quarter, compared to analysts’ expectations of $13.54 billion. During the same period in the prior year, the business posted $0.55 earnings per share. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. Equities research analysts expect that Intel Corp. will post $2.50 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Sunday, August 7th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date was Wednesday, August 3rd.
In other Intel Corp. news, CEO Brian M. Krzanich sold 71,413 shares of the firm’s stock in a transaction that occurred on Friday, July 1st. The shares were 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 directly owns 435,796 shares of the company’s stock, valued at approximately $14,263,603.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Gregory R. Pearson sold 1,506 shares of the firm’s stock in a transaction that occurred 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 transaction, the vice president now directly owns 84,505 shares in the company, valued at $2,912,042.30. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors have added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in 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. WBI Investments Inc. acquired a new position in Intel Corp. during the fourth quarter worth $8,646,000. Quantitative Investment Management LLC raised its position in Intel Corp. by 96.8% in the fourth quarter. Quantitative Investment Management LLC now owns 269,000 shares of the chip maker’s stock worth $9,267,000 after buying an additional 132,300 shares during the period. Gulf International Bank UK Ltd raised its position in Intel Corp. by 2.5% in the fourth quarter. Gulf International Bank UK Ltd now owns 1,408,387 shares of the chip maker’s stock worth $48,519,000 after buying an additional 34,300 shares during the period. Finally, LS Investment Advisors LLC raised its position in Intel Corp. by 14.2% in the fourth quarter. LS Investment Advisors LLC now owns 219,735 shares of the chip maker’s stock worth $7,570,000 after buying an additional 27,285 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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