Intel Co. (NASDAQ:INTC – Get Rating) was the target of a large increase in short interest in the month of December. As of December 15th, there was short interest totalling 73,240,000 shares, an increase of 9.0% from the November 30th total of 67,220,000 shares. Based on an average daily trading volume, of 41,070,000 shares, the short-interest ratio is presently 1.8 days.
Analysts Set New Price Targets
A number of equities analysts have recently commented on the stock. KGI Securities raised shares of Intel from an “underperform” rating to a “neutral” rating in a report on Friday, October 28th. Bank of America reduced their price objective on shares of Intel from $30.00 to $28.00 and set an “underperform” rating for the company in a report on Friday, October 28th. Mizuho reaffirmed a “neutral” rating and set a $32.00 price objective on shares of Intel in a report on Tuesday, November 22nd. Cowen assumed coverage on shares of Intel in a report on Monday, November 21st. They set a “market perform” rating and a $31.00 price objective for the company. Finally, Roth Capital reduced their price objective on shares of Intel from $40.00 to $30.00 and set a “neutral” rating for the company in a report on Friday, October 28th. Nine analysts have rated the stock with a sell rating, nineteen have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Intel currently has an average rating of “Hold” and an average price target of $32.71.
Insider Buying and Selling
In other news, Director Lip Bu Tan acquired 48,146 shares of the firm’s stock in a transaction that occurred on Tuesday, November 8th. The stock was acquired at an average cost of $27.98 per share, with a total value of $1,347,125.08. Following the acquisition, the director now owns 50,500 shares in the company, valued at $1,412,990. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Lip Bu Tan purchased 48,146 shares of Intel stock in a transaction on Tuesday, November 8th. The stock was purchased at an average cost of $27.98 per share, with a total value of $1,347,125.08. Following the acquisition, the director now directly owns 50,500 shares in the company, valued at $1,412,990. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Patrick P. Gelsinger purchased 8,830 shares of Intel stock in a transaction on Monday, October 31st. The stock was bought at an average cost of $28.16 per share, with a total value of $248,652.80. Following the completion of the acquisition, the chief executive officer now owns 96,049 shares in the company, valued at $2,704,739.84. The disclosure for this purchase can be found here. In the last three months, insiders bought 58,830 shares of company stock valued at $1,646,744. Company insiders own 0.02% of the company’s stock.
Institutional Investors Weigh In On Intel
Several institutional investors have recently modified their holdings of the business. Continental Investors Services Inc. acquired a new stake in shares of Intel during the 3rd quarter worth approximately $264,000. WealthPlan Investment Management LLC acquired a new stake in shares of Intel during the 3rd quarter worth approximately $3,060,000. Obermeyer Wood Investment Counsel Lllp boosted its stake in Intel by 10.6% during the 3rd quarter. Obermeyer Wood Investment Counsel Lllp now owns 17,081 shares of the chip maker’s stock worth $440,000 after acquiring an additional 1,635 shares during the last quarter. Charter Oak Capital Management LLC boosted its stake in Intel by 3.7% during the 3rd quarter. Charter Oak Capital Management LLC now owns 26,681 shares of the chip maker’s stock worth $688,000 after acquiring an additional 950 shares during the last quarter. Finally, Centaurus Financial Inc. boosted its stake in Intel by 10.0% during the 3rd quarter. Centaurus Financial Inc. now owns 28,184 shares of the chip maker’s stock worth $726,000 after acquiring an additional 2,553 shares during the last quarter. Institutional investors and hedge funds own 59.48% of the company’s stock.
Intel Trading Up 0.8 %
INTC opened at $26.43 on Tuesday. The company has a current ratio of 1.77, a quick ratio of 1.31 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $109.08 billion, a PE ratio of 8.13, a PEG ratio of 1.80 and a beta of 0.77. Intel has a 1-year low of $24.59 and a 1-year high of $56.28. The firm has a 50-day moving average price of $28.21 and a two-hundred day moving average price of $31.39.
Intel is a Sleeping Giant Ready to Awaken
Intel (NASDAQ:INTC – Get Rating) last issued its quarterly earnings results on Thursday, October 27th. The chip maker reported $0.59 EPS for the quarter, topping the consensus estimate of $0.34 by $0.25. Intel had a net margin of 19.13% and a return on equity of 11.67%. The company had revenue of $15.34 billion during the quarter, compared to analysts’ expectations of $15.49 billion. As a group, equities analysts anticipate that Intel will post 1.95 earnings per share for the current fiscal year.
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.