Traders Sell Intel Corp. (INTC) on Strength on Insider Selling
Traders sold shares of Intel Corp. (NASDAQ:INTC) on strength during trading on Thursday after an insider sold shares in the company. $73.71 million flowed into the stock on the tick-up and $105.10 million flowed out of the stock on the tick-down, for a money net flow of $31.39 million out of the stock. Of all companies tracked, Intel Corp. had the 24th highest net out-flow for the day. Intel Corp. traded up $0.08 for the day and closed at $38.07Specifically, Chairman Andy D. Bryant sold 445,095 shares of the company’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 completion of the transaction, the chairman now owns 399,557 shares of the company’s stock, valued at approximately $13,860,632.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Gregory R. Pearson sold 1,506 shares of the company’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 transaction, the vice president now directly owns 84,505 shares of the company’s stock, valued at approximately $2,912,042.30. The disclosure for this sale can be found here. 0.09% of the stock is owned by insiders.
INTC has been the subject of several recent analyst reports. B. Riley reaffirmed a “buy” rating and issued a $42.00 target price on shares of Intel Corp. in a report on Wednesday, August 17th. Robert W. Baird upped their target price on shares of Intel Corp. from $40.00 to $42.00 and gave the stock an “outperform” rating in a report on Monday, September 19th. Brean Capital reaffirmed a “buy” rating and issued a $40.00 target price (up previously from $38.00) on shares of Intel Corp. in a report on Thursday, September 22nd. Zacks Investment Research raised shares of Intel Corp. from a “hold” rating to a “buy” rating and set a $42.00 target price for the company in a report on Monday, September 26th. Finally, Citigroup Inc. reaffirmed a “neutral” rating and issued a $35.00 target price on shares of Intel Corp. in a report on Wednesday, August 17th. Three investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, thirty-two have assigned a buy rating and one has issued a strong buy rating to the company. Intel Corp. has a consensus rating of “Buy” and a consensus target price of $39.59.
The company has a market capitalization of $180.11 billion, a price-to-earnings ratio of 18.46 and a beta of 1.09. The stock’s 50-day moving average is $36.38 and its 200 day moving average is $33.40.
Intel Corp. (NASDAQ:INTC) last released its earnings results on Wednesday, July 20th. The chip maker reported $0.59 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.06. Intel Corp. had a net margin of 17.84% and a return on equity of 19.99%. The business had revenue of $13.50 billion for the quarter, compared to analysts’ expectations of $13.54 billion. During the same period last year, the company earned $0.55 earnings per share. The company’s quarterly revenue was up 2.6% on a year-over-year basis. On average, equities analysts expect that Intel Corp. will post $2.58 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Monday, November 7th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Thursday, November 3rd. This represents a $1.04 dividend on an annualized basis and a yield of 2.73%. Intel Corp.’s dividend payout ratio (DPR) is 50.24%.
A number of hedge funds and other institutional investors have recently made changes to their positions in INTC. Carnick & Kubik LLC acquired a new position in shares of Intel Corp. during the first quarter worth $100,000. Global X Management Co. LLC boosted its position in shares of Intel Corp. by 52.0% in the second quarter. Global X Management Co. LLC now owns 3,037 shares of the chip maker’s stock worth $100,000 after buying an additional 1,039 shares during the period. Penserra Capital Management LLC boosted its position in shares of Intel Corp. by 36.3% in the second quarter. Penserra Capital Management LLC now owns 3,178 shares of the chip maker’s stock worth $104,000 after buying an additional 847 shares during the period. Nelson Roberts Investment Advisors LLC boosted its position in shares of Intel Corp. by 55.3% in the second quarter. Nelson Roberts Investment Advisors LLC now owns 3,443 shares of the chip maker’s stock worth $113,000 after buying an additional 1,226 shares during the period. Finally, Proficio Capital Partners LLC boosted its position in shares of Intel Corp. by 143.0% in the second quarter. Proficio Capital Partners LLC now owns 3,395 shares of the chip maker’s stock worth $118,000 after buying an additional 1,998 shares during the period. 64.77% of the stock is currently owned by hedge funds and other institutional investors.
Intel Corp. Company Profile
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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