Traders Buy Intel Corporation (INTC) on Weakness

Investors bought shares of Intel Corporation (NASDAQ:INTC) on weakness during trading hours on Wednesday. $353.25 million flowed into the stock on the tick-up and $127.25 million flowed out of the stock on the tick-down, for a money net flow of $226.00 million into the stock. Of all stocks tracked, Intel Corporation had the highest net in-flow for the day. Intel Corporation traded down ($0.35) for the day and closed at $39.30

INTC has been the topic of several research analyst reports. Zacks Investment Research cut shares of Intel Corporation from a “hold” rating to a “sell” rating in a research note on Monday, July 17th. Credit Suisse Group reissued an “outperform” rating on shares of Intel Corporation in a research note on Thursday, August 31st. Needham & Company LLC reissued a “buy” rating and set a $43.00 price target on shares of Intel Corporation in a research note on Wednesday, July 12th. BidaskClub cut shares of Intel Corporation from a “hold” rating to a “sell” rating in a research note on Friday, August 25th. Finally, Robert W. Baird reissued an “outperform” rating and set a $45.00 price target on shares of Intel Corporation in a research note on Tuesday, September 5th. Five investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Hold” and an average target price of $40.75.

Intel Corporation (NASDAQ:INTC) last announced its earnings results on Thursday, July 27th. The chip maker reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.04. The business had revenue of $14.76 billion for the quarter, compared to the consensus estimate of $14.39 billion. Intel Corporation had a net margin of 20.60% and a return on equity of 21.86%. Intel Corporation’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period last year, the firm posted $0.59 earnings per share.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Tuesday, November 7th will be paid a $0.2725 dividend. This represents a $1.09 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date is Monday, November 6th. Intel Corporation’s dividend payout ratio is currently 41.76%.

In related news, EVP Diane M. Bryant sold 1,639 shares of the firm’s stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $34.65, for a total value of $56,791.35. Following the sale, the executive vice president now directly owns 114,542 shares of the company’s stock, valued at $3,968,880.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Venkata S. M. Renduchintala sold 13,996 shares of the firm’s stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $35.47, for a total transaction of $496,438.12. Following the completion of the sale, the insider now directly owns 1,536 shares in the company, valued at $54,481.92. The disclosure for this sale can be found here. Insiders sold 81,608 shares of company stock worth $3,095,110 over the last ninety days. 0.08% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Jackson Grant Investment Advisers Inc. raised its stake in Intel Corporation by 0.4% in the second quarter. Jackson Grant Investment Advisers Inc. now owns 7,785 shares of the chip maker’s stock valued at $263,000 after purchasing an additional 29 shares in the last quarter. Summit Asset Management LLC raised its stake in shares of Intel Corporation by 0.7% during the first quarter. Summit Asset Management LLC now owns 6,281 shares of the chip maker’s stock worth $227,000 after acquiring an additional 46 shares in the last quarter. First Hawaiian Bank raised its stake in shares of Intel Corporation by 0.9% during the first quarter. First Hawaiian Bank now owns 5,769 shares of the chip maker’s stock worth $208,000 after acquiring an additional 50 shares in the last quarter. Conservest Capital Advisors Inc. raised its stake in shares of Intel Corporation by 0.6% during the second quarter. Conservest Capital Advisors Inc. now owns 8,953 shares of the chip maker’s stock worth $302,000 after acquiring an additional 51 shares in the last quarter. Finally, Hudock Capital Group LLC raised its stake in shares of Intel Corporation by 0.4% during the first quarter. Hudock Capital Group LLC now owns 12,570 shares of the chip maker’s stock worth $453,000 after acquiring an additional 53 shares in the last quarter. 67.02% of the stock is currently owned by institutional investors and hedge funds.

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Intel Corporation Company Profile

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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