Investors Buy Intel Corp. (INTC) on Weakness
Traders bought shares of Intel Corp. (NASDAQ:INTC) on weakness during trading hours on Tuesday. $180.13 million flowed into the stock on the tick-up and $86.03 million flowed out of the stock on the tick-down, for a money net flow of $94.10 million into the stock. Of all companies tracked, Intel Corp. had the 2nd highest net in-flow for the day. Intel Corp. traded down ($0.02) for the day and closed at $37.14
INTC has been the subject of several research analyst reports. Wells Fargo & Co. reaffirmed a “buy” rating on shares of Intel Corp. in a research note on Wednesday, June 8th. Vetr cut Intel Corp. from a “strong-buy” rating to a “buy” rating and set a $34.92 target price on the stock. in a report on Wednesday, June 8th. Sterne Agee CRT reiterated a “buy” rating and set a $38.00 target price on shares of Intel Corp. in a report on Tuesday, May 31st. Zacks Investment Research upgraded Intel Corp. from a “hold” rating to a “buy” rating and set a $36.00 target price on the stock in a report on Tuesday, June 21st. Finally, Argus reiterated a “buy” rating and set a $41.00 target price on shares of Intel Corp. in a report on Wednesday, June 29th. Three analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirty-one have assigned a buy rating to the company. Intel Corp. presently has an average rating of “Buy” and an average target price of $39.01.
The company’s 50-day moving average price is $35.53 and its 200 day moving average price is $32.94. The company has a market capitalization of $175.71 billion, a P/E ratio of 18.01 and a beta of 0.93.
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Intel Corp. (NASDAQ:INTC) last released its quarterly earnings results on Wednesday, July 20th. The chip maker reported $0.59 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.06. Intel Corp. had a net margin of 17.84% and a return on equity of 19.99%. The company earned $13.50 billion during the quarter, compared to analysts’ expectations of $13.54 billion. During the same period in the prior year, the company earned $0.55 earnings per share. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. Analysts predict that Intel Corp. will post $2.57 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Monday, November 7th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date is Thursday, November 3rd. Intel Corp.’s dividend payout ratio (DPR) is 50.24%.
In other news, EVP Venkata S. M. Renduchintala sold 13,997 shares of the company’s stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $34.71, for a total transaction of $485,835.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Gregory R. Pearson sold 250,192 shares of the company’s stock in a transaction dated Tuesday, September 6th. The shares were sold at an average price of $36.50, for a total transaction of $9,132,008.00. Following the transaction, the vice president now directly owns 92,826 shares of the company’s stock, valued at approximately $3,388,149. The disclosure for this sale can be found here. Company insiders own 0.09% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Emerald Acquisition Ltd. bought a new position in shares of Intel Corp. during the second quarter worth approximately $295,226,000. Dimensional Fund Advisors LP raised its position in shares of Intel Corp. by 23.4% in the second quarter. Dimensional Fund Advisors LP now owns 45,685,548 shares of the chip maker’s stock worth $1,498,217,000 after buying an additional 8,662,708 shares in the last quarter. Capital World Investors raised its position in shares of Intel Corp. by 5.1% in the second quarter. Capital World Investors now owns 167,047,690 shares of the chip maker’s stock worth $5,479,164,000 after buying an additional 8,095,076 shares in the last quarter. Institutional Capital LLC raised its position in shares of Intel Corp. by 360.2% in the first quarter. Institutional Capital LLC now owns 10,182,033 shares of the chip maker’s stock worth $329,388,000 after buying an additional 7,969,512 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Intel Corp. by 1.9% in the second quarter. Vanguard Group Inc. now owns 299,534,545 shares of the chip maker’s stock worth $9,824,733,000 after buying an additional 5,697,051 shares in the last quarter. 64.77% of the stock is owned by institutional investors and hedge funds.
About Intel Corp.
Intel Corporation is engaged in the design and manufacture of digital technology platforms. The Company’s segments include Client Computing Group (CCG), Data Center Group (DCG), Internet of Things Group (IOTG), Software and Services (SSG) and All Other. CCG segment includes platforms designed for notebooks (including Ultrabook devices), 2 in 1 systems, desktops (including all-in-ones and personal computers (PCs)), tablets, phones, wireless and wired connectivity products, and mobile communication components.
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