Traders Buy Shares of Intel Corporation (INTC) on Weakness
Investors bought shares of Intel Corporation (NASDAQ:INTC) on weakness during trading hours on Friday. $125.89 million flowed into the stock on the tick-up and $86.36 million flowed out of the stock on the tick-down, for a money net flow of $39.53 million into the stock. Of all companies tracked, Intel Corporation had the 5th highest net in-flow for the day. Intel Corporation traded down ($0.27) for the day and closed at $35.87
INTC has been the subject of a number of research reports. Zacks Investment Research lowered shares of Intel Corporation from a “hold” rating to a “sell” rating in a report on Monday, July 17th. Needham & Company LLC reaffirmed a “buy” rating and set a $43.00 target price on shares of Intel Corporation in a report on Wednesday, July 12th. Bank of America Corporation lowered shares of Intel Corporation from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $42.00 to $38.00 in a report on Wednesday, June 21st. BidaskClub lowered shares of Intel Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, June 27th. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $38.00 target price on shares of Intel Corporation in a report on Wednesday, July 12th. Five equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and twenty-seven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $40.55.
The company’s 50 day moving average price is $34.80 and its 200-day moving average price is $35.73. The firm has a market capitalization of $168.55 billion, a P/E ratio of 13.69 and a beta of 1.01.
Intel Corporation (NASDAQ:INTC) last announced its quarterly earnings data on Thursday, July 27th. The chip maker reported $0.72 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.04. The business had revenue of $14.76 billion during the quarter, compared to analyst estimates of $14.39 billion. Intel Corporation had a return on equity of 21.86% and a net margin of 20.60%. The company’s revenue was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.59 earnings per share. On average, analysts expect that Intel Corporation will post $3.01 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Monday, August 7th will be issued a $0.2725 dividend. The ex-dividend date is Thursday, August 3rd. This represents a $1.09 annualized dividend and a dividend yield of 3.04%. Intel Corporation’s dividend payout ratio (DPR) is 41.76%.
In other news, EVP Diane M. Bryant sold 1,639 shares of the company’s stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $34.65, for a total transaction of $56,791.35. Following the completion of the sale, the executive vice president now directly owns 114,542 shares of the company’s stock, valued at $3,968,880.30. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Venkata S. M. Renduchintala sold 1,424 shares of the company’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $36.40, for a total value of $51,833.60. Following the sale, the insider now directly owns 1,536 shares of the company’s stock, valued at $55,910.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 91,921 shares of company stock valued at $3,130,162. Insiders own 0.09% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Archford Capital Strategies LLC increased its stake in shares of Intel Corporation by 4.6% in the fourth quarter. Archford Capital Strategies LLC now owns 23,375 shares of the chip maker’s stock valued at $847,000 after buying an additional 1,026 shares in the last quarter. Independent Advisor Alliance bought a new stake in shares of Intel Corporation during the fourth quarter valued at approximately $1,383,000. Sustainable Insight Capital Management LLC bought a new stake in shares of Intel Corporation during the fourth quarter valued at approximately $1,193,000. Lebenthal Asset Management LLC increased its stake in shares of Intel Corporation by 0.5% in the fourth quarter. Lebenthal Asset Management LLC now owns 257,838 shares of the chip maker’s stock valued at $9,352,000 after buying an additional 1,346 shares in the last quarter. Finally, RB Capital Management LLC bought a new stake in shares of Intel Corporation during the fourth quarter valued at approximately $858,000. 67.50% of the stock is owned by institutional investors and hedge funds.
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Intel Corporation Company Profile
Intel Corporation is engaged in designing and manufacturing products and technologies, such as the cloud. The Company’s segments are Client Computing Group (CCG), Data Center Group (DCG), Internet of Things Group (IOTG), Non-Volatile Memory Solutions Group (NSG), Intel Security Group (ISecG), Programmable Solutions Group (PSG), All Other and New Technology Group (NTG).
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