Insider Selling: Arvind Sodhani Unloads 27,206 Shares of Intel Corp. Stock (INTC)
Intel Corp. (NASDAQ:INTC) VP Arvind Sodhani sold 27,206 shares of the company’s stock on the open market in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $24.33, for a total value of $661,921.98. Following the completion of the sale, the vice president now directly owns 100,000 shares in the company, valued at approximately $2,433,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Shares of Intel Corp. (NASDAQ:INTC) traded down 0.29% during mid-day trading on Monday, hitting $24.255. 26,632,320 shares of the company’s stock traded hands. Intel Corp. has a 52-week low of $19.23 and a 52-week high of $25.98. The stock has a 50-day moving average of $23.54 and a 200-day moving average of $23.49. The company has a market cap of $120.6 billion and a P/E ratio of 13.16.
Intel Corp. (NASDAQ:INTC) last issued its quarterly earnings data on Tuesday, October 15th. The company reported $0.58 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.54 by $0.04. The company had revenue of $13.48 billion for the quarter, compared to the consensus estimate of $13.47 billion. During the same quarter last year, the company posted $0.58 earnings per share. Intel Corp.’s revenue was up .2% compared to the same quarter last year. On average, analysts predict that Intel Corp. will post $1.89 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Sunday, December 1st. Shareholders of record on Thursday, November 7th will be paid a dividend of $0.23 per share. This represents a $0.90 annualized dividend and a dividend yield of 3.71%. The ex-dividend date is Tuesday, November 5th.
A number of research firms have recently commented on INTC. Analysts at TheStreet reiterated a “buy” rating on shares of Intel Corp. in a research note to investors on Monday. Finally, analysts at Drexel Hamilton initiated coverage on shares of Intel Corp. in a research note to investors on Monday, October 21st. They set a “hold” rating and a $26.00 price target on the stock. Six equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and sixteen have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $23.40.
Intel Corporation designs and manufactures integrated digital technology platforms. A platform consists of a microprocessor and chipset.
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