Investors Sell Intel Corp. (INTC) on Strength (INTC)
Traders sold shares of Intel Corp. (NASDAQ:INTC) on strength during trading on Friday. $60.83 million flowed into the stock on the tick-up and $92.76 million flowed out of the stock on the tick-down, for a money net flow of $31.93 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 $0.17 for the day and closed at $35.26
INTC has been the subject of several recent research reports. Cowen and Company reiterated a “market perform” rating and issued a $36.00 price target (up from $32.00) on shares of Intel Corp. in a report on Monday, July 11th. Vetr downgraded Intel Corp. from a “hold” rating to a “sell” rating and set a $31.46 target price for the company. in a research note on Monday, July 4th. Royal Bank Of Canada raised their target price on Intel Corp. from $33.00 to $34.00 and gave the company a “sector perform” rating in a research note on Friday, July 8th. Canaccord Genuity raised their target price on Intel Corp. from $38.00 to $40.00 and gave the company a “buy” rating in a research note 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 note on Monday, May 30th. Three analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and twenty-nine have issued a buy rating to the stock. Intel Corp. has a consensus rating of “Buy” and a consensus target price of $37.09.
The stock has a 50-day moving average of $34.90 and a 200-day moving average of $32.10. The company has a market cap of $166.82 billion and a P/E ratio of 17.10.
Intel Corp. (NASDAQ:INTC) last issued its quarterly earnings data 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. During the same period in the prior year, the company earned $0.55 EPS. The company had revenue of $13.50 billion for the quarter, compared to the consensus estimate of $13.54 billion. The firm’s revenue was up 2.6% on a year-over-year basis. Analysts forecast that Intel Corp. will post $2.50 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 1st. Stockholders of record on Sunday, August 7th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 2.95%. The ex-dividend date is Wednesday, August 3rd.
In related news, Chairman Andy D. Bryant sold 445,095 shares of the stock in a transaction on Monday, July 25th. The shares were sold at an average price of $34.69, for a total transaction of $15,440,345.55. Following the completion of the transaction, the chairman now owns 399,557 shares in the company, valued at $13,860,632.33. 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 1,506 shares of the 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 transaction, the vice president now 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.
A number of hedge funds and institutional investors have made changes to their positions in INTC. Birch Hill Investment Advisors LLC boosted its position in shares of Intel Corp. by 1.9% in the fourth quarter. Birch Hill Investment Advisors LLC now owns 31,973 shares of the chip maker’s stock valued at $1,101,000 after buying an additional 600 shares during the last quarter. Buckingham Asset Management LLC boosted its position in shares of Intel Corp. by 3.3% in the fourth quarter. Buckingham Asset Management LLC now owns 34,721 shares of the chip maker’s stock valued at $1,196,000 after buying an additional 1,114 shares during the last quarter. Alerus Investment Advisors Corp boosted its position in shares of Intel Corp. by 11.8% in the fourth quarter. Alerus Investment Advisors Corp now owns 51,301 shares of the chip maker’s stock valued at $1,768,000 after buying an additional 5,407 shares during the last quarter. Terril Brothers Inc. boosted its position in shares of Intel Corp. by 1.8% in the fourth quarter. Terril Brothers Inc. now owns 56,200 shares of the chip maker’s stock valued at $1,963,000 after buying an additional 1,000 shares during the last quarter. Finally, Community Financial Services Group LLC boosted its position in shares of Intel Corp. by 0.9% in the fourth quarter. Community Financial Services Group LLC now owns 64,152 shares of the chip maker’s stock valued at $2,210,000 after buying an additional 566 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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