Traders Sell Shares of Intel Corp. (INTC) on Strength (INTC)
Traders sold shares of Intel Corp. (NASDAQ:INTC) on strength during trading hours on Tuesday. $93.39 million flowed into the stock on the tick-up and $131.55 million flowed out of the stock on the tick-down, for a money net flow of $38.16 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 $0.56 for the day and closed at $34.94
INTC has been the topic of several recent analyst reports. Wells Fargo & Co. reissued a “buy” rating on shares of Intel Corp. in a research note on Wednesday, April 20th. B. Riley reaffirmed a “buy” rating and issued a $40.00 price target on shares of Intel Corp. in a research note on Thursday, April 14th. Summit Research decreased their price target on shares of Intel Corp. to $38.00 and set a “buy” rating on the stock in a research note on Tuesday, March 22nd. JPMorgan Chase & Co. raised their price target on shares of Intel Corp. from $38.00 to $39.00 and gave the company an “overweight” rating in a research note on Wednesday, April 20th. Finally, Credit Suisse Group AG reaffirmed a “buy” rating and issued a $40.00 price target on shares of Intel Corp. in a research note on Friday, April 1st. Four investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and thirty-one have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $36.04.
The stock has a market capitalization of $164.99 billion and a price-to-earnings ratio of 14.93. The firm’s 50-day moving average is $32.17 and its 200 day moving average is $31.26.
Intel Corp. (NASDAQ:INTC) last announced its earnings results on Tuesday, April 19th. The chip maker reported $0.54 EPS for the quarter, topping the consensus estimate of $0.48 by $0.06. The firm earned $13.80 billion during the quarter, compared to analyst estimates of $13.83 billion. The business’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.41 earnings per share. Analysts anticipate that Intel Corp. will post $2.41 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 1st. Shareholders of record on Sunday, August 7th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 3.03%.
In related news, Chairman Andy D. Bryant sold 185,740 shares of the firm’s stock in a transaction that occurred on Thursday, April 21st. The shares were sold at an average price of $31.98, for a total transaction of $5,939,965.20. Following the completion of the sale, the chairman now directly owns 386,731 shares in the company, valued at $12,367,657.38. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Brian M. Krzanich sold 71,413 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief executive officer now owns 462,054 shares of the company’s stock, valued at $14,023,338.90. The disclosure for this sale can be found here.
Other hedge funds recently bought and sold shares of the company. Balasa Dinverno & Foltz LLC boosted its stake in Intel Corp. by 0.4% in the fourth quarter. Balasa Dinverno & Foltz LLC now owns 50,276 shares of the chip maker’s stock valued at $1,732,000 after buying an additional 208 shares in the last quarter. Bollard Group LLC boosted its stake 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. Holderness Investments Co. boosted its stake in Intel Corp. by 0.3% in the fourth quarter. Holderness Investments Co. now owns 77,832 shares of the chip maker’s stock valued at $2,681,000 after buying an additional 237 shares in the last quarter. Mitchell Mcleod Pugh & Williams Inc. raised its position in shares of Intel Corp. by 1.0% in the fourth quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 31,704 shares of the chip maker’s stock valued at $1,092,000 after buying an additional 310 shares during the last quarter. Finally, Johnson Financial Group Inc. raised its position in shares of Intel Corp. by 0.3% in the fourth quarter. Johnson Financial Group Inc. now owns 107,153 shares of the chip maker’s stock valued at $3,691,000 after buying an additional 364 shares during 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.
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