Intel Co. (NASDAQ:INTC) Sees Large Drop in Short Interest

Intel Co. (NASDAQ:INTC) saw a significant decrease in short interest in the month of September. As of September 15th, there was short interest totalling 138,010,000 shares, a decrease of 20.5% from the August 31st total of 173,520,000 shares. Based on an average daily trading volume, of 33,760,000 shares, the days-to-cover ratio is presently 4.1 days. Currently, 3.3% of the shares of the stock are short sold.

In other Intel news, EVP Navin Shenoy sold 2,847 shares of the company’s stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $48.18, for a total value of $137,168.46. Following the sale, the executive vice president now owns 71,807 shares of the company’s stock, valued at $3,459,661.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Robert Holmes Swan purchased 8,021 shares of Intel stock in a transaction on Friday, July 24th. The stock was acquired at an average cost of $50.00 per share, for a total transaction of $401,050.00. Following the acquisition, the chief executive officer now directly owns 293,594 shares of the company’s stock, valued at $14,679,700. The disclosure for this purchase can be found here. Insiders have sold 7,491 shares of company stock worth $365,878 over the last 90 days. 0.04% of the stock is currently owned by company insiders.

Institutional investors have recently bought and sold shares of the company. Modus Advisors LLC bought a new stake in Intel in the 2nd quarter valued at about $25,000. Price Wealth LLC lifted its position in Intel by 119.5% in the 2nd quarter. Price Wealth LLC now owns 461 shares of the chip maker’s stock valued at $28,000 after purchasing an additional 251 shares during the last quarter. FAI Wealth Management lifted its position in Intel by 390.4% in the 2nd quarter. FAI Wealth Management now owns 510 shares of the chip maker’s stock valued at $30,000 after purchasing an additional 406 shares during the last quarter. Okabena Investment Services Inc. bought a new stake in Intel in the 2nd quarter valued at about $42,000. Finally, Marshall & Sullivan Inc. WA bought a new stake in Intel in the 2nd quarter valued at about $60,000. Institutional investors own 64.41% of the company’s stock.

Several equities analysts recently issued reports on INTC shares. Northland Securities initiated coverage on shares of Intel in a research note on Friday, September 11th. They set a “sell” rating and a $48.00 price objective on the stock. Standpoint Research raised shares of Intel from a “hold” rating to a “buy” rating in a research note on Tuesday, September 8th. BofA Securities downgraded shares of Intel from a “buy” rating to a “neutral” rating in a research note on Friday, July 24th. Susquehanna Bancshares reaffirmed a “hold” rating and set a $58.00 price target on shares of Intel in a research note on Tuesday, July 14th. Finally, Deutsche Bank downgraded shares of Intel from a “buy” rating to a “hold” rating and cut their price target for the stock from $70.00 to $60.00 in a research note on Friday, July 24th. They noted that the move was a valuation call. Twelve equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and sixteen have issued a buy rating to the company’s stock. Intel presently has an average rating of “Hold” and a consensus target price of $61.15.

NASDAQ INTC traded up $0.46 during trading hours on Thursday, reaching $52.24. 22,064,863 shares of the company traded hands, compared to its average volume of 30,066,391. Intel has a 12 month low of $43.63 and a 12 month high of $69.29. The company has a current ratio of 1.97, a quick ratio of 1.58 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $222.18 billion, a PE ratio of 9.63, a PEG ratio of 1.36 and a beta of 0.71. The company has a 50 day moving average of $49.70 and a two-hundred day moving average of $55.31.

Intel (NASDAQ:INTC) last posted its quarterly earnings data on Thursday, July 23rd. The chip maker reported $1.23 EPS for the quarter, beating the Zacks’ consensus estimate of $1.11 by $0.12. Intel had a net margin of 29.97% and a return on equity of 31.55%. The firm had revenue of $19.73 billion for the quarter, compared to the consensus estimate of $18.54 billion. During the same period in the prior year, the firm posted $1.06 EPS. On average, equities research analysts anticipate that Intel will post 4.86 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Saturday, November 7th will be given a $0.33 dividend. The ex-dividend date is Friday, November 6th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.53%. Intel’s payout ratio is currently 27.10%.

About Intel

Intel Corporation offers computing, networking, data storage, and communication solutions worldwide. It operates through Client Computing Group, Data Center Group, Internet of Things Group, Non-Volatile Memory Solutions Group, Programmable Solutions Group, and All Other segments. The company offers microprocessors, and system-on-chip and multichip packaging products.

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