Investors Sell Intel Corp. (INTC) on Strength (INTC)
Traders sold shares of Intel Corp. (NASDAQ:INTC) on strength during trading hours on Thursday. $66.31 million flowed into the stock on the tick-up and $100.79 million flowed out of the stock on the tick-down, for a money net flow of $34.48 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 $0.33 for the day and closed at $34.58
Several equities analysts have recently weighed in on INTC shares. Cowen and Company reissued a “market perform” rating and set a $36.00 target price (up previously from $32.00) on shares of Intel Corp. in a research report on Monday, July 11th. Vetr downgraded Intel Corp. from a “hold” rating to a “sell” rating and set a $31.46 target price on the stock. in a research report on Monday, July 4th. Royal Bank Of Canada boosted their target price on Intel Corp. from $33.00 to $34.00 and gave the company a “sector perform” rating in a research report on Friday, July 8th. Canaccord Genuity boosted their target price on Intel Corp. from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Monday, July 18th. Finally, Sanford C. Bernstein set a $26.00 target price on Intel Corp. and gave the company a “sell” rating in a research report on Monday, May 30th. Four research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and twenty-nine have given a buy rating to the company’s stock. Intel Corp. currently has a consensus rating of “Hold” and a consensus target price of $36.76.
The firm’s 50 day moving average is $33.78 and its 200-day moving average is $31.54. The stock has a market capitalization of $165.49 billion and a price-to-earnings ratio of 16.96.
Intel Corp. (NASDAQ:INTC) last issued its earnings results on Wednesday, July 20th. The chip maker reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.06. The firm earned $13.50 billion during the quarter, compared to analysts’ expectations of $13.54 billion. During the same period last 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. On average, analysts anticipate that Intel Corp. will post $2.50 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 1st. Investors of record on Sunday, August 7th will be given a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 2.97%. The ex-dividend date is Wednesday, August 3rd.
In other Intel Corp. news, VP Gregory R. Pearson sold 42,684 shares of the firm’s stock in a transaction dated Monday, May 23rd. The stock was sold at an average price of $30.35, for a total value of $1,295,459.40. Following the transaction, the vice president now directly owns 81,909 shares of the company’s stock, valued at $2,485,938.15. 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 dated Friday, July 22nd. The shares were sold at an average price of $34.46, for a total value 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.
Other hedge funds and institutional investors recently 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 valued at $9,758,455,000 after buying an additional 6,429,434 shares during the period. Dimensional Fund Advisors LP raised its position in 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 valued at $1,152,136,000 after buying an additional 1,157,603 shares during the period. Agran Libbie raised its position in Intel Corp. by 9,807.2% in the fourth quarter. Agran Libbie now owns 23,731,244 shares of the chip maker’s stock valued at $8,175,000 after buying an additional 23,491,708 shares during the period. Barrow Hanley Mewhinney & Strauss LLC raised its position in Intel Corp. by 0.4% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 19,682,522 shares of the chip maker’s stock valued at $678,063,000 after buying an additional 80,119 shares during the period. Finally, Swiss National Bank raised its position in 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 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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