Intel Co. (NASDAQ:INTC – Get Rating) was the recipient of a significant increase in short interest during the month of September. As of September 15th, there was short interest totalling 64,990,000 shares, an increase of 15.2% from the August 31st total of 56,410,000 shares. Based on an average daily trading volume, of 39,660,000 shares, the days-to-cover ratio is currently 1.6 days.
Analyst Ratings Changes
Several equities analysts have recently commented on INTC shares. StockNews.com lowered Intel from a “buy” rating to a “hold” rating in a report on Monday, August 1st. Northland Securities lowered their target price on Intel from $62.00 to $55.00 in a report on Friday, July 29th. DZ Bank lowered Intel from a “hold” rating to a “sell” rating and set a $30.00 price objective for the company. in a report on Tuesday, August 2nd. The Goldman Sachs Group set a $30.00 price objective on Intel in a report on Friday, July 29th. Finally, Susquehanna Bancshares decreased their price objective on Intel to $23.00 in a report on Friday. Nine research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $42.56.
Intel Price Performance
Shares of NASDAQ:INTC traded down $0.61 on Friday, reaching $25.77. 43,820,964 shares of the company traded hands, compared to its average volume of 40,441,260. The company’s 50 day moving average is $32.80 and its 200-day moving average is $39.53. The stock has a market capitalization of $105.81 billion, a PE ratio of 5.52, a P/E/G ratio of 1.57 and a beta of 0.65. Intel has a fifty-two week low of $25.74 and a fifty-two week high of $56.28. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.86 and a quick ratio of 1.41.
Intel (NASDAQ:INTC – Get Rating) last released its earnings results on Thursday, July 28th. The chip maker reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.40). The business had revenue of $15.30 billion during the quarter, compared to analysts’ expectations of $17.93 billion. Intel had a net margin of 26.03% and a return on equity of 16.65%. Intel’s revenue for the quarter was down 17.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.28 EPS. As a group, analysts anticipate that Intel will post 2.24 earnings per share for the current fiscal year.
Intel Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Monday, November 7th will be issued a $0.365 dividend. The ex-dividend date is Friday, November 4th. This represents a $1.46 dividend on an annualized basis and a dividend yield of 5.67%. Intel’s payout ratio is currently 31.26%.
Insider Activity at Intel
In other news, CEO Patrick P. Gelsinger acquired 14,800 shares of the stock in a transaction that occurred on Wednesday, August 24th. The stock was purchased at an average cost of $33.86 per share, with a total value of $501,128.00. Following the completion of the acquisition, the chief executive officer now directly owns 77,216 shares in the company, valued at $2,614,533.76. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.02% of the stock is owned by corporate insiders.
Institutional Trading of Intel
A number of hedge funds have recently modified their holdings of the business. Baldwin Brothers LLC MA increased its holdings in Intel by 1.8% during the first quarter. Baldwin Brothers LLC MA now owns 12,353 shares of the chip maker’s stock worth $612,000 after buying an additional 215 shares during the last quarter. Kiley Juergens Wealth Management LLC increased its holdings in Intel by 0.6% during the first quarter. Kiley Juergens Wealth Management LLC now owns 33,917 shares of the chip maker’s stock worth $1,681,000 after buying an additional 216 shares during the last quarter. Blue Bell Private Wealth Management LLC increased its holdings in Intel by 2.7% during the first quarter. Blue Bell Private Wealth Management LLC now owns 8,306 shares of the chip maker’s stock worth $412,000 after buying an additional 217 shares during the last quarter. Lehman & Derafelo Financial Resources LLC increased its holdings in Intel by 4.2% during the first quarter. Lehman & Derafelo Financial Resources LLC now owns 5,483 shares of the chip maker’s stock worth $272,000 after buying an additional 223 shares during the last quarter. Finally, Annex Advisory Services LLC increased its holdings in Intel by 2.5% during the first quarter. Annex Advisory Services LLC now owns 9,248 shares of the chip maker’s stock worth $458,000 after buying an additional 224 shares during the last quarter. Hedge funds and other institutional investors own 61.52% of the company’s stock.
About Intel
Intel Corporation engages in the design, manufacture, and sale of computer products and technologies worldwide. The company operates through CCG, DCG, IOTG, Mobileye, NSG, PSG, and All Other segments. It offers platform products, such as central processing units and chipsets, and system-on-chip and multichip packages; and non-platform or adjacent products, including accelerators, boards and systems, connectivity products, graphics, and memory and storage products.