Insider Selling: Intel President Unloads 2,059 Shares of Stock (INTC)
Intel (NASDAQ:INTC) President Renee Jo James sold 2,059 shares of the stock on the open market in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $34.15, for a total value of $70,314.85. Following the completion of the sale, the president now directly owns 68,356 shares in the company, valued at approximately $2,334,357. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
A number of research firms have recently commented on INTC. Analysts at Bernstein raised their price target on shares of Intel from $28.00 to $31.00 in a research note on Wednesday, July 16th. Separately, analysts at Wedbush raised their price target on shares of Intel from $30.00 to $34.00 in a research note on Wednesday, July 16th. Finally, analysts at Barclays reiterated an “equal weight” rating on shares of Intel in a research note on Wednesday, July 16th. They now have a $30.00 price target on the stock, up previously from $28.00. Three analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $33.14.
Shares of Intel (NASDAQ:INTC) traded down 0.06% on Monday, hitting $34.23. The stock had a trading volume of 30,975,052 shares. Intel has a 52 week low of $21.89 and a 52 week high of $34.83. The stock has a 50-day moving average of $31.31 and a 200-day moving average of $27.1. The company has a market cap of $169.5 billion and a price-to-earnings ratio of 16.96. Intel also was the recipient of a large decrease in short interest in the month of July. As of July 15th, there was short interest totalling 161,625,885 shares, a decrease of 7.3% from the June 30th total of 174,354,201 shares. Based on an average daily volume of 29,163,291 shares, the short-interest ratio is currently 5.5 days. Approximately 3.2% of the shares of the company are sold short.
Intel (NASDAQ:INTC) last released its earnings data on Tuesday, July 15th. The company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.03. The company had revenue of $13.83 billion for the quarter, compared to the consensus estimate of $13.68 million. During the same quarter in the previous year, the company posted $0.39 earnings per share. The company’s revenue for the quarter was up 8.0% on a year-over-year basis. Analysts expect that Intel will post $2.18 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, September 1st. Stockholders of record on Thursday, August 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 2.63%. The ex-dividend date of this dividend is Tuesday, August 5th.
Intel Corporation, incorporated in 1968, designs and manufactures integrated digital technology platforms.
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