Intel Co. (NASDAQ:INTC) Sees Large Growth in Short Interest

Intel Co. (NASDAQ:INTC) was the recipient of a large increase in short interest in April. As of April 15th, there was short interest totalling 76,280,000 shares, an increase of 5.4% from the March 31st total of 72,400,000 shares. Based on an average trading volume of 48,570,000 shares, the short-interest ratio is presently 1.6 days.

Analysts Set New Price Targets

Several brokerages recently issued reports on INTC. Benchmark reaffirmed a “buy” rating and set a $62.00 target price on shares of Intel in a research report on Wednesday, April 3rd. Raymond James reduced their target price on Intel from $54.00 to $52.00 and set an “outperform” rating on the stock in a research report on Friday, January 26th. Stifel Nicolaus reaffirmed a “hold” rating and set a $45.00 target price on shares of Intel in a research report on Wednesday, April 3rd. Cantor Fitzgerald reissued a “neutral” rating and issued a $50.00 price objective on shares of Intel in a report on Wednesday, April 3rd. Finally, HSBC reduced their price objective on Intel from $44.00 to $37.00 and set a “hold” rating for the company in a research note on Tuesday, April 23rd. Four investment analysts have rated the stock with a sell rating, twenty-one have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $39.75.

Insider Transactions at Intel

In related news, CEO Patrick P. Gelsinger purchased 2,800 shares of Intel stock in a transaction dated Thursday, February 1st. The stock was purchased at an average cost of $42.74 per share, with a total value of $119,672.00. Following the transaction, the chief executive officer now owns 31,275 shares in the company, valued at approximately $1,336,693.50. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.04% of the company’s stock.

Institutional Trading of Intel

A number of institutional investors have recently made changes to their positions in INTC. Accurate Wealth Management LLC boosted its stake in shares of Intel by 19.1% in the third quarter. Accurate Wealth Management LLC now owns 7,331 shares of the chip maker’s stock worth $264,000 after acquiring an additional 1,176 shares during the last quarter. Vicus Capital lifted its position in Intel by 65.4% during the third quarter. Vicus Capital now owns 14,761 shares of the chip maker’s stock worth $525,000 after buying an additional 5,837 shares in the last quarter. Pinnacle Associates Ltd. lifted its position in Intel by 5.3% during the third quarter. Pinnacle Associates Ltd. now owns 362,811 shares of the chip maker’s stock worth $12,898,000 after buying an additional 18,209 shares in the last quarter. Clear Creek Financial Management LLC lifted its position in Intel by 2.5% during the third quarter. Clear Creek Financial Management LLC now owns 17,009 shares of the chip maker’s stock worth $605,000 after buying an additional 411 shares in the last quarter. Finally, Tectonic Advisors LLC lifted its position in Intel by 14.3% during the third quarter. Tectonic Advisors LLC now owns 35,532 shares of the chip maker’s stock worth $1,263,000 after buying an additional 4,443 shares in the last quarter. 64.53% of the stock is owned by institutional investors and hedge funds.

Intel Stock Down 2.8 %

Shares of INTC opened at $30.47 on Wednesday. The company has a current ratio of 1.57, a quick ratio of 1.14 and a debt-to-equity ratio of 0.43. Intel has a 12 month low of $26.85 and a 12 month high of $51.28. The stock’s 50 day moving average is $40.35 and its two-hundred day moving average is $42.23. The firm has a market cap of $128.83 billion, a P/E ratio of 31.74, a PEG ratio of 2.89 and a beta of 1.00.

Intel Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Tuesday, May 7th will be issued a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 1.64%. The ex-dividend date is Monday, May 6th. Intel’s payout ratio is currently 52.08%.

Intel Company Profile

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.