Traders Sell Intel Corporation (INTC) on Strength After Insider Selling

Investors sold shares of Intel Corporation (NASDAQ:INTC) on strength during trading on Thursday after an insider sold shares in the company. $191.67 million flowed into the stock on the tick-up and $253.90 million flowed out of the stock on the tick-down, for a money net flow of $62.23 million out of the stock. Of all stocks tracked, Intel Corporation had the 0th highest net out-flow for the day. Intel Corporation traded up $0.57 for the day and closed at $41.35Specifically, insider Venkata S. M. Renduchintala sold 13,996 shares of the business’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $35.47, for a total value of $496,438.12. Following the completion of the sale, the insider now directly owns 1,536 shares in the company, valued at $54,481.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Diane M. Bryant sold 1,639 shares of the business’s stock in a transaction on Tuesday, October 24th. The stock was sold at an average price of $40.91, for a total transaction of $67,051.49. Following the completion of the sale, the executive vice president now owns 113,086 shares of the company’s stock, valued at $4,626,348.26. The disclosure for this sale can be found here. Insiders sold 78,919 shares of company stock valued at $3,011,780 over the last three months. Insiders own 0.08% of the company’s stock.

A number of brokerages have recently weighed in on INTC. Stifel Nicolaus boosted their price objective on shares of Intel Corporation from $41.00 to $46.00 and gave the stock a “buy” rating in a research note on Friday, October 20th. Goldman Sachs Group, Inc. (The) restated a “hold” rating on shares of Intel Corporation in a research note on Wednesday, October 18th. Vetr upgraded shares of Intel Corporation from a “buy” rating to a “strong-buy” rating and set a $49.90 price objective for the company in a research note on Tuesday, October 17th. Susquehanna Bancshares Inc boosted their price objective on shares of Intel Corporation from $45.00 to $46.00 and gave the stock a “positive” rating in a research note on Tuesday, October 10th. Finally, Mizuho restated a “buy” rating and issued a $45.00 price objective (up from $42.00) on shares of Intel Corporation in a research note on Monday, October 9th. Five investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $41.24.

The firm has a market capitalization of $194.30 billion, a P/E ratio of 15.78 and a beta of 1.07. The firm has a 50-day moving average of $38.32 and a 200 day moving average of $36.19.

Intel Corporation (NASDAQ:INTC) last issued its quarterly earnings results on Thursday, October 26th. The chip maker reported $1.01 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.21. Intel Corporation had a return on equity of 21.86% and a net margin of 20.60%. The firm had revenue of $16.15 billion for the quarter, compared to analyst estimates of $15.73 billion. During the same period in the previous year, the firm earned $0.80 earnings per share. The company’s revenue was up 2.4% compared to the same quarter last year. Equities analysts predict that Intel Corporation will post $3.01 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Tuesday, November 7th will be given a dividend of $0.2725 per share. This represents a $1.09 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date is Monday, November 6th. Intel Corporation’s payout ratio is 41.76%.

Several large investors have recently modified their holdings of INTC. Janus Henderson Group PLC raised its position in shares of Intel Corporation by 4,951.1% during the second quarter. Janus Henderson Group PLC now owns 20,455,051 shares of the chip maker’s stock worth $690,156,000 after purchasing an additional 20,050,088 shares during the period. Capital Research Global Investors raised its position in shares of Intel Corporation by 9.1% during the second quarter. Capital Research Global Investors now owns 128,581,621 shares of the chip maker’s stock worth $4,338,344,000 after purchasing an additional 10,744,753 shares during the period. Capital World Investors raised its position in shares of Intel Corporation by 5.5% during the second quarter. Capital World Investors now owns 197,750,361 shares of the chip maker’s stock worth $6,672,097,000 after purchasing an additional 10,257,260 shares during the period. Vanguard Group Inc. raised its position in shares of Intel Corporation by 2.5% during the second quarter. Vanguard Group Inc. now owns 333,500,073 shares of the chip maker’s stock worth $11,252,292,000 after purchasing an additional 8,087,302 shares during the period. Finally, Glenview Capital Management LLC acquired a new position in shares of Intel Corporation during the first quarter worth approximately $177,881,000. 67.11% of the stock is currently owned by institutional investors.

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About Intel Corporation

Intel Corporation is engaged in designing and manufacturing products and technologies, such as the cloud. The Company’s segments are Client Computing Group (CCG), Data Center Group (DCG), Internet of Things Group (IOTG), Non-Volatile Memory Solutions Group (NSG), Intel Security Group (ISecG), Programmable Solutions Group (PSG), All Other and New Technology Group (NTG).

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