Intel Co. (INTC) Short Interest Update

Intel Co. (NASDAQ:INTC) was the target of a large decline in short interest in the month of January. As of January 31st, there was short interest totalling 57,576,557 shares, a decline of 7.0% from the January 15th total of 61,940,343 shares. Based on an average trading volume of 34,093,494 shares, the days-to-cover ratio is presently 1.7 days. Currently, 1.3% of the shares of the company are sold short.

In other Intel news, EVP Navin Shenoy sold 1,626 shares of the business’s stock in a transaction on Monday, February 4th. The shares were sold at an average price of $48.62, for a total transaction of $79,056.12. Following the sale, the executive vice president now owns 51,913 shares of the company’s stock, valued at approximately $2,524,010.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Robert Holmes Swan bought 5,117 shares of the stock in a transaction on Thursday, November 29th. The shares were acquired at an average cost of $48.30 per share, for a total transaction of $247,151.10. Following the acquisition, the chief executive officer now directly owns 131,839 shares in the company, valued at $6,367,823.70. The disclosure for this purchase can be found here. Insiders have sold a total of 18,039 shares of company stock worth $870,162 in the last three months. Insiders own 0.03% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in INTC. Oregon Public Employees Retirement Fund increased its stake in Intel by 4,553.3% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 117,118,039 shares of the chip maker’s stock valued at $2,496,000 after acquiring an additional 114,601,152 shares during the last quarter. Charles Schwab Investment Advisory Inc. bought a new position in Intel in the second quarter valued at $204,242,000. Prudential Financial Inc. increased its stake in Intel by 29.2% in the third quarter. Prudential Financial Inc. now owns 13,125,175 shares of the chip maker’s stock valued at $620,690,000 after acquiring an additional 2,968,410 shares during the last quarter. Investec Asset Management LTD bought a new position in Intel in the fourth quarter valued at $138,454,000. Finally, Vanguard Group Inc increased its stake in Intel by 0.8% in the third quarter. Vanguard Group Inc now owns 358,346,977 shares of the chip maker’s stock valued at $16,946,229,000 after acquiring an additional 2,892,357 shares during the last quarter. 66.38% of the stock is currently owned by institutional investors and hedge funds.

INTC opened at $48.77 on Tuesday. The firm has a market capitalization of $228.49 billion, a P/E ratio of 10.65, a PEG ratio of 1.29 and a beta of 0.74. The company has a current ratio of 1.73, a quick ratio of 1.30 and a debt-to-equity ratio of 0.34. Intel has a 52 week low of $42.36 and a 52 week high of $57.60.

Intel (NASDAQ:INTC) last released its earnings results on Thursday, January 24th. The chip maker reported $1.28 EPS for the quarter, beating the Zacks’ consensus estimate of $1.22 by $0.06. The business had revenue of $18.66 billion for the quarter, compared to analysts’ expectations of $19.02 billion. Intel had a return on equity of 30.08% and a net margin of 29.72%. The firm’s revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.08 earnings per share. As a group, sell-side analysts anticipate that Intel will post 4.5 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Investors of record on Thursday, February 7th will be paid a $0.315 dividend. This represents a $1.26 dividend on an annualized basis and a yield of 2.58%. The ex-dividend date is Wednesday, February 6th. This is a boost from Intel’s previous quarterly dividend of $0.30. Intel’s dividend payout ratio is currently 27.51%.

Intel declared that its board has approved a share buyback plan on Thursday, November 15th that permits the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization permits the chip maker to reacquire up to 6.8% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

A number of equities research analysts have issued reports on the stock. Royal Bank of Canada reissued a “neutral” rating and set a $55.00 target price on shares of Intel in a report on Wednesday, January 23rd. Macquarie set a $60.00 target price on shares of Intel and gave the company a “buy” rating in a report on Monday, October 29th. BidaskClub cut shares of Intel from a “buy” rating to a “hold” rating in a report on Thursday, January 17th. ValuEngine cut shares of Intel from a “hold” rating to a “sell” rating in a report on Thursday, November 1st. Finally, Citigroup upped their price target on shares of Intel from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Friday, January 11th. Six equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and eighteen have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $53.76.

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About Intel

Intel Corporation offers computing, networking, data storage, and communication solutions worldwide. It operates through Client Computing Group, Data Center Group, Internet of Things Group, Non-Volatile Memory Solutions Group, Programmable Solutions Group, and All Other segments. The company offers microprocessors, and system-on-chip and multichip packaging products.

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