Insider Selling: Arvind Sodhani Sells 378,680 Shares of Intel Corp. Stock (INTC)
Intel Corp. (NASDAQ:INTC) VP Arvind Sodhani sold 378,680 shares of Intel Corp. stock on the open market in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $24.53, for a total transaction of $9,289,020.40. Following the transaction, the vice president now directly owns 100,000 shares in the company, valued at approximately $2,453,000. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
A number of research firms have recently commented on INTC. Analysts at Ned Davis Research upgraded shares of Intel Corp. from a “neutral” rating to a “buy” rating in a research note to investors on Monday, January 27th. Separately, analysts at TheStreet reiterated a “buy” rating on shares of Intel Corp. in a research note to investors on Monday, January 27th. Finally, analysts at Drexel Hamilton downgraded shares of Intel Corp. from a “buy” rating to a “hold” rating in a research note to investors on Wednesday, January 22nd. They now have a $26.00 price target on the stock, down previously from $30.00. Three research analysts have rated the stock with a sell rating, eighteen have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. Intel Corp. currently has an average rating of “Hold” and a consensus target price of $25.65.
Shares of Intel Corp. (NASDAQ:INTC) traded down 2.40% on Monday, hitting $23.95. 52,928,168 shares of the company’s stock traded hands. Intel Corp. has a one year low of $20.10 and a one year high of $27.12. The stock’s 50-day moving average is $25.39 and its 200-day moving average is $23.88. The company has a market cap of $119.1 billion and a P/E ratio of 12.98.
Intel Corp. (NASDAQ:INTC) last announced its earnings results on Wednesday, January 15th. The company reported $0.51 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.52 by $0.01. The company had revenue of $13.80 billion for the quarter, compared to the consensus estimate of $13.72 billion. During the same quarter in the prior year, the company posted $0.48 earnings per share. The company’s quarterly revenue was up 2.6% on a year-over-year basis. On average, analysts predict that Intel Corp. will post $1.85 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Saturday, March 1st. Investors of record on Friday, February 7th will be given a dividend of 0.225 per share. This represents a $0.90 dividend on an annualized basis and a yield of 3.76%. The ex-dividend date of this dividend is Wednesday, February 5th.
Intel Corporation designs and manufactures integrated digital technology platforms. A platform consists of a microprocessor and chipset.
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