Stock Traders Buy High Volume of Call Options on Intel (NASDAQ:INTC)

Intel Co. (NASDAQ:INTCGet Free Report) was the target of some unusual options trading activity on Monday. Investors bought 400,421 call options on the company. This represents an increase of approximately 49% compared to the average volume of 269,558 call options.

Insider Activity at Intel

In other news, CEO Patrick P. Gelsinger purchased 4,000 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The stock was acquired at an average cost of $31.42 per share, with a total value of $125,680.00. Following the acquisition, the chief executive officer now owns 35,275 shares in the company, valued at approximately $1,108,340.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Patrick P. Gelsinger purchased 4,100 shares of Intel stock in a transaction that occurred on Wednesday, May 1st. The shares were acquired at an average price of $30.29 per share, for a total transaction of $124,189.00. Following the transaction, the chief executive officer now owns 39,375 shares of the company’s stock, valued at approximately $1,192,668.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Patrick P. Gelsinger acquired 4,000 shares of the stock in a transaction on Monday, April 29th. The shares were purchased at an average price of $31.42 per share, with a total value of $125,680.00. Following the completion of the transaction, the chief executive officer now owns 35,275 shares of the company’s stock, valued at $1,108,340.50. The disclosure for this purchase can be found here. 0.04% of the stock is owned by company insiders.

Institutional Trading of Intel

A number of hedge funds have recently bought and sold shares of INTC. Norges Bank bought a new stake in shares of Intel in the 4th quarter valued at about $2,424,202,000. Price T Rowe Associates Inc. MD boosted its position in Intel by 543.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 37,384,507 shares of the chip maker’s stock valued at $1,878,572,000 after buying an additional 31,575,084 shares during the period. Capital International Investors grew its holdings in Intel by 16.0% in the 1st quarter. Capital International Investors now owns 112,093,582 shares of the chip maker’s stock worth $4,951,174,000 after acquiring an additional 15,475,631 shares during the last quarter. California Public Employees Retirement System grew its stake in shares of Intel by 102.6% in the fourth quarter. California Public Employees Retirement System now owns 16,074,760 shares of the chip maker’s stock worth $807,757,000 after purchasing an additional 8,140,835 shares during the last quarter. Finally, Van ECK Associates Corp increased its holdings in Intel by 44.8% during the 1st quarter. Van ECK Associates Corp now owns 21,556,234 shares of the chip maker’s stock valued at $952,139,000 after purchasing an additional 6,673,086 shares during the period. Institutional investors own 64.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on INTC shares. TD Cowen cut their target price on shares of Intel from $42.00 to $35.00 and set a “hold” rating on the stock in a research report on Friday, April 26th. Needham & Company LLC reiterated a “hold” rating on shares of Intel in a research report on Friday, April 26th. Wedbush decreased their price target on shares of Intel from $40.00 to $32.50 and set a “neutral” rating for the company in a research report on Friday, April 26th. Cantor Fitzgerald reissued a “neutral” rating and issued a $50.00 price objective on shares of Intel in a research note on Wednesday, April 3rd. Finally, Bank of America lowered their target price on Intel from $50.00 to $44.00 and set a “neutral” rating for the company in a research report on Friday, April 12th. Three analysts have rated the stock with a sell rating, twenty-three have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Intel currently has a consensus rating of “Hold” and a consensus price target of $39.58.

Read Our Latest Research Report on INTC

Intel Stock Performance

NASDAQ INTC opened at $34.59 on Wednesday. The company’s 50 day moving average is $30.94 and its 200-day moving average is $38.76. The firm has a market cap of $147.25 billion, a P/E ratio of 36.03, a price-to-earnings-growth ratio of 15.26 and a beta of 1.05. Intel has a 12-month low of $29.73 and a 12-month high of $51.28. The company has a quick ratio of 1.14, a current ratio of 1.57 and a debt-to-equity ratio of 0.43.

Intel (NASDAQ:INTCGet Free Report) last announced its quarterly earnings results on Thursday, April 25th. The chip maker reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.03). Intel had a net margin of 7.36% and a return on equity of 2.19%. The firm had revenue of $12.72 billion during the quarter, compared to the consensus estimate of $12.76 billion. Sell-side analysts predict that Intel will post 0.09 earnings per share for the current year.

Intel Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Stockholders of record on Tuesday, May 7th were given a dividend of $0.125 per share. The ex-dividend date was Monday, May 6th. This represents a $0.50 annualized dividend and a dividend yield of 1.45%. Intel’s dividend payout ratio (DPR) is presently 52.08%.

About Intel

(Get Free Report)

Intel Corporation designs, develops, manufactures, markets, and sells computing and related products and services worldwide. It operates through Client Computing Group, Data Center and AI, Network and Edge, Mobileye, and Intel Foundry Services segments. The company's products portfolio comprises central processing units and chipsets, system-on-chips (SoCs), and multichip packages; mobile and desktop processors; hardware products comprising graphics processing units (GPUs), domain-specific accelerators, and field programmable gate arrays (FPGAs); and memory and storage, connectivity and networking, and other semiconductor products.

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