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%.
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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