Intel Corp. (INTC) Sees Unusually-High Trading Volume Following Better-Than-Expected Earnings
Intel Corp. (NASDAQ:INTC) saw an uptick in trading volume on Tuesday after the company announced better than expected quarterly earnings. 39,117,478 shares traded hands during mid-day trading, an increase of 81% from the previous session’s volume of 21,573,724 shares.The stock last traded at $37.75 and had previously closed at $37.29.
The chip maker reported $0.80 EPS for the quarter, beating the consensus estimate of $0.72 by $0.08. Intel Corp. had a return on equity of 19.99% and a net margin of 17.84%.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Monday, November 7th will be paid a $0.26 dividend. The ex-dividend date is Thursday, November 3rd. This represents a $1.04 annualized dividend and a yield of 2.75%. Intel Corp.’s dividend payout ratio is 50.24%.
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INTC has been the topic of several research analyst reports. Sanford C. Bernstein restated an “underperform” rating and issued a $26.00 price objective on shares of Intel Corp. in a research note on Monday, June 20th. Zacks Investment Research upgraded Intel Corp. from a “hold” rating to a “buy” rating and set a $36.00 price objective on the stock in a research note on Tuesday, June 21st. Vetr lowered Intel Corp. from a “buy” rating to a “hold” rating and set a $32.02 price objective on the stock. in a research note on Wednesday, June 22nd. Argus restated a “buy” rating and issued a $41.00 price objective on shares of Intel Corp. in a research note on Wednesday, June 29th. Finally, Citigroup Inc. restated a “neutral” rating and issued a $35.00 price objective (up previously from $31.00) on shares of Intel Corp. in a research note on Thursday, June 30th. Three analysts have rated the stock with a sell rating, fifteen have given a hold rating and thirty-three have issued a buy rating to the company. Intel Corp. currently has a consensus rating of “Buy” and a consensus price target of $40.00.
In other news, CFO Stacy J. Smith sold 29,497 shares of the stock in a transaction dated Friday, July 22nd. The shares were sold at an average price of $34.47, for a total transaction of $1,016,761.59. Following the completion of the sale, the chief financial officer now directly owns 263,772 shares in the company, valued at $9,092,220.84. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Venkata S. M. Renduchintala sold 13,997 shares of the stock in a transaction dated Thursday, July 28th. The stock was sold at an average price of $34.71, for a total transaction of $485,835.87. The disclosure for this sale can be found here. Company insiders own 0.09% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Wilbanks Smith & Thomas Asset Management LLC increased its position in Intel Corp. by 4.8% in the first quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 44,754 shares of the chip maker’s stock worth $1,448,000 after buying an additional 2,039 shares during the last quarter. IMS Capital Management increased its position in shares of Intel Corp. by 48.5% in the first quarter. IMS Capital Management now owns 63,965 shares of the chip maker’s stock worth $2,069,000 after buying an additional 20,898 shares in the last quarter. PacWest Financial Management Inc increased its position in shares of Intel Corp. by 13.2% in the first quarter. PacWest Financial Management Inc now owns 98,033 shares of the chip maker’s stock worth $3,171,000 after buying an additional 11,451 shares in the last quarter. DAVENPORT & Co LLC increased its position in shares of Intel Corp. by 6.1% in the first quarter. DAVENPORT & Co LLC now owns 163,973 shares of the chip maker’s stock worth $5,305,000 after buying an additional 9,428 shares in the last quarter. Finally, Acropolis Investment Management LLC increased its position in shares of Intel Corp. by 2.6% in the first quarter. Acropolis Investment Management LLC now owns 112,367 shares of the chip maker’s stock worth $3,590,000 after buying an additional 2,890 shares in the last quarter. Institutional investors own 64.82% of the company’s stock.
The firm’s 50-day moving average price is $36.91 and its 200 day moving average price is $33.70. The firm has a market capitalization of $178.60 billion, a price-to-earnings ratio of 18.31 and a beta of 1.09.
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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