Traders Sell Shares of Intel Corp. (INTC) on Strength (INTC)
Traders sold shares of Intel Corp. (NASDAQ:INTC) on strength during trading hours on Thursday. $98.65 million flowed into the stock on the tick-up and $166.70 million flowed out of the stock on the tick-down, for a money net flow of $68.05 million out of the stock. Of all companies tracked, Intel Corp. had the 0th highest net out-flow for the day. Intel Corp. traded up $0.19 for the day and closed at $35.20
A number of equities research analysts recently weighed in on INTC shares. Cowen and Company restated a “market perform” rating and issued a $36.00 price target (up previously from $32.00) on shares of Intel Corp. in a report on Monday, July 11th. Vetr cut Intel Corp. from a “hold” rating to a “sell” rating and set a $31.46 price target on the stock. in a report on Monday, July 4th. Royal Bank Of Canada upped their price target on Intel Corp. from $33.00 to $34.00 and gave the stock a “sector perform” rating in a report on Friday, July 8th. Sanford C. Bernstein set a $26.00 price target on Intel Corp. and gave the stock a “sell” rating in a report on Monday, May 30th. Finally, Wedbush restated an “outperform” rating and issued a $39.00 price target (down previously from $41.00) on shares of Intel Corp. in a report on Thursday, April 14th. Four equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and thirty-one have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $36.04.
The stock has a 50-day moving average of $32.43 and a 200-day moving average of $31.29. The company has a market cap of $165.60 billion and a P/E ratio of 14.98.
Intel Corp. (NASDAQ:INTC) last issued its quarterly earnings data on Tuesday, April 19th. The chip maker reported $0.54 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.06. During the same period in the prior year, the company earned $0.41 EPS. The company had revenue of $13.80 billion for the quarter, compared to the consensus estimate of $13.83 billion. The firm’s revenue was up 8.0% on a year-over-year basis. Analysts forecast that Intel Corp. will post $2.41 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 1st. Investors of record on Sunday, August 7th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 2.97%. The ex-dividend date is Wednesday, August 3rd.
In related news, CEO Brian M. Krzanich sold 71,413 shares of the stock in a transaction on Monday, May 23rd. The shares were sold at an average price of $30.35, for a total transaction of $2,167,384.55. Following the completion of the transaction, the chief executive officer now owns 462,054 shares in the company, valued at $14,023,338.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Gregory R. Pearson sold 42,684 shares of the stock in a transaction on Monday, May 23rd. The stock was sold at an average price of $30.35, for a total transaction of $1,295,459.40. Following the transaction, the vice president now owns 81,909 shares of the company’s stock, valued at approximately $2,485,938.15. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors have made changes to their positions in INTC. Linscomb & Williams Inc. boosted its position in shares of Intel Corp. by 2.0% in the fourth quarter. Linscomb & Williams Inc. now owns 108,020 shares of the chip maker’s stock valued at $3,721,000 after buying an additional 2,110 shares during the last quarter. Wedge Capital Management L L P NC acquired a new position in shares of Intel Corp. during the fourth quarter valued at approximately $39,295,000. Simmons First Trust Co. NA boosted its position in shares of Intel Corp. by 119.9% in the fourth quarter. Simmons First Trust Co. NA now owns 211,274 shares of the chip maker’s stock valued at $7,278,000 after buying an additional 115,208 shares during the last quarter. Swiss National Bank boosted its position in shares of Intel Corp. by 2.1% in the fourth quarter. Swiss National Bank now owns 8,641,802 shares of the chip maker’s stock valued at $297,710,000 after buying an additional 176,100 shares during the last quarter. Finally, Korea Investment CORP boosted its position in shares of Intel Corp. by 8.3% in the fourth quarter. Korea Investment CORP now owns 2,359,974 shares of the chip maker’s stock valued at $81,301,000 after buying an additional 180,400 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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