Investors Buy Intel (INTC) on Weakness

Investors bought shares of Intel Co. (NASDAQ:INTC) on weakness during trading hours on Friday. $300.86 million flowed into the stock on the tick-up and $127.22 million flowed out of the stock on the tick-down, for a money net flow of $173.64 million into the stock. Of all companies tracked, Intel had the 3rd highest net in-flow for the day. Intel traded down ($0.97) for the day and closed at $44.00

Several equities analysts have recently commented on the stock. Stifel Nicolaus restated a “neutral” rating and issued a $60.00 target price on shares of Intel in a research report on Monday, July 16th. Cowen dropped their target price on shares of Intel from $54.00 to $52.00 and set a “market perform” rating for the company in a research report on Friday, July 27th. Wells Fargo & Co dropped their target price on shares of Intel from $58.00 to $55.00 and set a “buy” rating for the company in a research report on Monday, September 10th. Macquarie restated a “buy” rating and issued a $60.00 target price on shares of Intel in a research report on Monday, September 10th. Finally, Royal Bank of Canada set a $55.00 target price on shares of Intel and gave the company a “neutral” rating in a research report on Friday. Six analysts have rated the stock with a sell rating, seventeen have given a hold rating and twenty have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $55.08.

The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.15 and a current ratio of 1.57. The firm has a market cap of $214.69 billion, a PE ratio of 12.91, a P/E/G ratio of 1.31 and a beta of 0.97.

Intel (NASDAQ:INTC) last posted its earnings results on Thursday, July 26th. The chip maker reported $1.04 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.99 by $0.05. Intel had a net margin of 20.07% and a return on equity of 27.33%. The firm had revenue of $16.96 billion for the quarter, compared to analyst estimates of $16.78 billion. During the same period in the previous year, the firm posted $0.72 EPS. The company’s revenue for the quarter was up 14.9% compared to the same quarter last year. On average, equities analysts predict that Intel Co. will post 4.16 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Saturday, December 1st. Shareholders of record on Wednesday, November 7th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date is Tuesday, November 6th. Intel’s payout ratio is 34.68%.

In other Intel news, EVP Steven Ralph Rodgers sold 1,251 shares of the business’s stock in a transaction that occurred on Thursday, August 2nd. The shares were sold at an average price of $48.37, for a total transaction of $60,510.87. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Navin Shenoy sold 601 shares of the business’s stock in a transaction that occurred on Monday, July 30th. The stock was sold at an average price of $47.69, for a total transaction of $28,661.69. Following the sale, the executive vice president now directly owns 40,903 shares in the company, valued at $1,950,664.07. The disclosure for this sale can be found here. Insiders have sold a total of 4,077 shares of company stock worth $205,757 over the last three months. Insiders own 0.03% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Charles Schwab Investment Advisory Inc. bought a new stake in shares of Intel in the 2nd quarter valued at $204,242,000. Platinum Investment Management Ltd. boosted its stake in shares of Intel by 192.0% in the 1st quarter. Platinum Investment Management Ltd. now owns 4,712,431 shares of the chip maker’s stock valued at $245,423,000 after purchasing an additional 3,098,600 shares during the last quarter. Millennium Management LLC boosted its stake in shares of Intel by 232.8% in the 1st quarter. Millennium Management LLC now owns 1,750,545 shares of the chip maker’s stock valued at $91,168,000 after purchasing an additional 3,069,040 shares during the last quarter. FIL Ltd boosted its stake in shares of Intel by 71.2% in the 1st quarter. FIL Ltd now owns 6,385,865 shares of the chip maker’s stock valued at $332,575,000 after purchasing an additional 2,655,452 shares during the last quarter. Finally, Cantillon Capital Management LLC bought a new stake in shares of Intel in the 2nd quarter valued at $121,797,000. 65.44% of the stock is currently owned by hedge funds and other institutional investors.

About Intel (NASDAQ:INTC)

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.

Further Reading: How to Invest in an Index Fund

Receive News & Ratings for Intel Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intel and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply