Intel Corporation (NASDAQ:INTC) was the target of a large decrease in short interest in July. As of July 31st, there was short interest totalling 92,381,592 shares, a decrease of 1.7% from the July 14th total of 93,942,259 shares. Based on an average daily volume of 22,587,848 shares, the days-to-cover ratio is presently 4.1 days. Currently, 2.0% of the shares of the stock are sold short.
In other Intel Corporation news, insider Venkata S. M. Renduchintala sold 1,424 shares of the stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $36.40, for a total value of $51,833.60. Following the sale, the insider now directly owns 1,536 shares in the company, valued at approximately $55,910.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Robert Holmes Swan acquired 13,888 shares of the stock in a transaction dated Monday, June 5th. The shares were bought at an average price of $36.31 per share, for a total transaction of $504,273.28. Following the transaction, the chief financial officer now owns 8,774 shares in the company, valued at approximately $318,583.94. The disclosure for this purchase can be found here. Insiders sold a total of 91,921 shares of company stock worth $3,130,162 over the last quarter. Corporate insiders own 0.09% of the company’s stock.
Several large investors have recently modified their holdings of the company. Norges Bank purchased a new stake in shares of Intel Corporation during the fourth quarter worth approximately $1,684,790,000. Janus Henderson Group PLC boosted its stake in shares of Intel Corporation by 4,951.1% in the second quarter. Janus Henderson Group PLC now owns 20,455,051 shares of the chip maker’s stock worth $690,156,000 after buying an additional 20,050,088 shares during the last quarter. Capital Research Global Investors boosted its stake in shares of Intel Corporation by 9.1% in 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 buying an additional 10,744,753 shares during the last quarter. Capital World Investors boosted its stake in shares of Intel Corporation by 5.5% in the second quarter. Capital World Investors now owns 197,750,361 shares of the chip maker’s stock worth $6,672,097,000 after buying an additional 10,257,260 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Intel Corporation by 2.5% in the second quarter. Vanguard Group Inc. now owns 333,500,073 shares of the chip maker’s stock worth $11,252,292,000 after buying an additional 8,087,302 shares during the last quarter. 67.31% of the stock is currently owned by institutional investors and hedge funds.
Several analysts have recently weighed in on INTC shares. Zacks Investment Research cut shares of Intel Corporation from a “hold” rating to a “sell” rating in a research report on Monday, July 17th. Stifel Nicolaus restated a “buy” rating and set a $39.00 price objective on shares of Intel Corporation in a research report on Friday, July 14th. Bank of America Corporation cut shares of Intel Corporation from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $42.00 to $38.00 in a research report on Wednesday, June 21st. Credit Suisse Group restated a “neutral” rating and set a $35.00 price objective on shares of Intel Corporation in a research report on Tuesday, July 4th. Finally, Raymond James Financial, Inc. restated an “underperform” rating on shares of Intel Corporation in a research report on Friday, July 14th. Five equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and twenty-seven have issued a buy rating to the stock. Intel Corporation presently has an average rating of “Hold” and an average target price of $40.55.
Intel Corporation (INTC) opened at 36.34 on Tuesday. The firm has a 50 day moving average of $34.90 and a 200-day moving average of $35.68. Intel Corporation has a 52-week low of $33.23 and a 52-week high of $38.45. The company has a market capitalization of $170.76 billion, a price-to-earnings ratio of 13.87 and a beta of 1.01.
Intel Corporation (NASDAQ:INTC) last issued its quarterly earnings data on Thursday, July 27th. The chip maker reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.04. The business had revenue of $14.76 billion for the quarter, compared to analysts’ expectations of $14.39 billion. Intel Corporation had a net margin of 20.60% and a return on equity of 21.86%. The business’s revenue was up 9.1% on a year-over-year basis. During the same quarter last year, the company earned $0.59 EPS. Equities analysts expect that Intel Corporation will post $3.01 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Monday, August 7th will be paid a dividend of $0.2725 per share. The ex-dividend date is Thursday, August 3rd. This represents a $1.09 dividend on an annualized basis and a dividend yield of 3.00%. Intel Corporation’s payout ratio is 41.76%.
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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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