Short Interest in Intel (INTC) Rises By 6.3%

Intel (NASDAQ:INTC) was the recipient of a significant growth in short interest during the month of May. As of May 15th, there was short interest totalling 81,089,621 shares, a growth of 6.3% from the April 30th total of 76,318,858 shares. Approximately 1.7% of the company’s shares are short sold. Based on an average trading volume of 22,367,129 shares, the short-interest ratio is currently 3.6 days.

INTC has been the topic of a number of recent analyst reports. BidaskClub upgraded Intel from a “buy” rating to a “strong-buy” rating in a report on Friday, March 9th. Barclays upped their price objective on Intel from $60.00 to $62.00 and gave the company an “overweight” rating in a report on Friday, April 27th. Macquarie set a $55.00 price objective on Intel and gave the company a “buy” rating in a report on Tuesday, February 6th. Morgan Stanley upped their price objective on Intel from $43.00 to $54.00 and gave the company an “equal weight” rating in a report on Friday, April 27th. Finally, Zacks Investment Research cut Intel from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 28th. Two investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating, twenty-eight have given a buy rating and one has assigned a strong buy rating to the stock. Intel has a consensus rating of “Buy” and an average target price of $55.43.

In related news, EVP Navin Shenoy sold 8,967 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $48.67, for a total value of $436,423.89. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Brian M. Krzanich sold 3,072 shares of the company’s stock in a transaction that occurred on Wednesday, May 2nd. The shares were sold at an average price of $52.78, for a total value of $162,140.16. Following the completion of the transaction, the chief executive officer now owns 259,683 shares in the company, valued at $13,706,068.74. The disclosure for this sale can be found here. Insiders sold 96,615 shares of company stock worth $4,753,757 over the last quarter. 0.03% of the stock is currently owned by insiders.

Several hedge funds have recently modified their holdings of the business. Capital International Investors acquired a new stake in shares of Intel during the third quarter worth about $339,563,000. TIAA CREF Investment Management LLC boosted its stake in shares of Intel by 47.8% during the fourth quarter. TIAA CREF Investment Management LLC now owns 23,711,209 shares of the chip maker’s stock worth $1,094,509,000 after buying an additional 7,669,737 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Intel by 3,222.2% during the fourth quarter. Renaissance Technologies LLC now owns 3,441,594 shares of the chip maker’s stock worth $158,864,000 after buying an additional 3,338,000 shares during the period. Commerzbank Aktiengesellschaft FI boosted its stake in shares of Intel by 923.6% during the third quarter. Commerzbank Aktiengesellschaft FI now owns 3,450,834 shares of the chip maker’s stock worth $131,408,000 after buying an additional 3,113,693 shares during the period. Finally, Platinum Investment Management Ltd. boosted its stake in shares of Intel by 192.0% during the first quarter. Platinum Investment Management Ltd. now owns 4,712,431 shares of the chip maker’s stock worth $245,423,000 after buying an additional 3,098,600 shares during the period. 67.02% of the stock is currently owned by institutional investors.

Shares of Intel opened at $55.44 on Friday, MarketBeat.com reports. The stock has a market cap of $256.14 billion, a price-to-earnings ratio of 16.02, a PEG ratio of 1.69 and a beta of 0.94. Intel has a 1 year low of $33.23 and a 1 year high of $55.79. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.23 and a current ratio of 1.58.

Intel (NASDAQ:INTC) last issued its quarterly earnings data on Thursday, April 26th. The chip maker reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.15. The company had revenue of $16.10 billion for the quarter, compared to analyst estimates of $15.08 billion. Intel had a return on equity of 25.41% and a net margin of 17.32%. The business’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.66 earnings per share. analysts predict that Intel will post 3.84 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 1st. Shareholders of record on Monday, May 7th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.16%. The ex-dividend date is Friday, May 4th. Intel’s payout ratio is 34.68%.

About Intel

Intel Corporation designs, manufactures, and sells computer, networking, data storage, and communication platforms worldwide. The company operates through Client Computing Group, Data Center Group, Internet of Things Group, Non-Volatile Memory Solutions Group, Programmable Solutions Group, and All Other segments.

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