Traders Buy Shares of Intel Corporation (INTC) on Weakness
Traders purchased shares of Intel Corporation (NASDAQ:INTC) on weakness during trading hours on Thursday. $148.18 million flowed into the stock on the tick-up and $60.14 million flowed out of the stock on the tick-down, for a money net flow of $88.04 million into the stock. Of all stocks tracked, Intel Corporation had the 3rd highest net in-flow for the day. Intel Corporation traded down ($0.22) for the day and closed at $35.54
A number of research firms recently commented on INTC. Vetr cut Intel Corporation from a “strong-buy” rating to a “buy” rating and set a $40.97 price objective on the stock. in a report on Wednesday, August 2nd. B. Riley reiterated a “buy” rating and issued a $46.00 price objective on shares of Intel Corporation in a report on Wednesday, August 2nd. BidaskClub upgraded Intel Corporation from a “hold” rating to a “buy” rating in a report on Thursday, August 10th. Goldman Sachs Group, Inc. (The) reiterated a “hold” rating on shares of Intel Corporation in a report on Wednesday, August 9th. Finally, Sanford C. Bernstein reiterated an “underperform” rating and issued a $30.00 price objective on shares of Intel Corporation in a report on Wednesday, May 10th. Six equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-eight have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $40.55.
The firm’s 50-day moving average price is $35.37 and its 200 day moving average price is $35.53. The company has a market cap of $167.00 billion, a P/E ratio of 13.56 and a beta of 1.02. Intel Corporation also was the recipient of some unusual options trading activity on Tuesday. Stock traders acquired 21,588 put options on the stock. This represents an increase of approximately 118% compared to the average volume of 9,902 put options.
Intel Corporation (NASDAQ:INTC) last released 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 firm had revenue of $14.76 billion for the quarter, compared to analyst estimates of $14.39 billion. Intel Corporation had a net margin of 20.60% and a return on equity of 21.86%. The company’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.59 EPS. Equities research analysts expect that Intel Corporation will post $3.01 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Monday, August 7th were paid a $0.2725 dividend. The ex-dividend date was Thursday, August 3rd. This represents a $1.09 annualized dividend and a yield of 3.07%. Intel Corporation’s dividend payout ratio is presently 41.76%.
In other Intel Corporation news, CEO Brian M. Krzanich sold 72,173 shares of the business’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $33.69, for a total value of $2,431,508.37. Following the completion of the sale, the chief executive officer now directly owns 534,746 shares of the company’s stock, valued at $18,015,592.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Venkata S. M. Renduchintala sold 13,996 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $35.47, for a total transaction of $496,438.12. Following the completion of the sale, the insider now directly owns 1,536 shares of the company’s stock, valued at $54,481.92. The disclosure for this sale can be found here. In the last quarter, insiders sold 91,921 shares of company stock worth $3,130,162. Company insiders own 0.08% of the company’s stock.
A number of hedge funds have recently bought and sold shares of INTC. Janus Henderson Group PLC grew its position in Intel Corporation by 4,951.1% in the second quarter. Janus Henderson Group PLC now owns 20,455,051 shares of the chip maker’s stock worth $690,156,000 after acquiring an additional 20,050,088 shares in the last quarter. Capital Research Global Investors boosted its holdings in shares of Intel Corporation by 9.1% during the 2nd quarter. Capital Research Global Investors now owns 128,581,621 shares of the chip maker’s stock worth $4,338,344,000 after buying an additional 10,744,753 shares during the period. Capital World Investors boosted its holdings in shares of Intel Corporation by 5.5% during the 2nd quarter. Capital World Investors now owns 197,750,361 shares of the chip maker’s stock worth $6,672,097,000 after buying an additional 10,257,260 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Intel Corporation by 2.5% during the 2nd quarter. Vanguard Group Inc. now owns 333,500,073 shares of the chip maker’s stock worth $11,252,292,000 after buying an additional 8,087,302 shares during the period. Finally, Glenview Capital Management LLC bought a new stake in shares of Intel Corporation during the 1st quarter worth $177,881,000. 67.09% of the stock is owned by institutional investors.
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About Intel Corporation
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).