Intel Co. (NASDAQ:INTC) Sees Significant Decline in Short Interest

Intel Co. (NASDAQ:INTC) was the target of a large decrease in short interest in the month of August. As of August 15th, there was short interest totalling 59,030,000 shares, a decrease of 5.1% from the July 31st total of 62,220,000 shares. Based on an average daily trading volume, of 43,350,000 shares, the short-interest ratio is presently 1.4 days.

Intel Stock Performance

INTC opened at $35.14 on Friday. The company has a current ratio of 1.60, a quick ratio of 1.15 and a debt-to-equity ratio of 0.44. The company has a market cap of $147.17 billion, a price-to-earnings ratio of -159.72 and a beta of 0.89. The company’s 50 day moving average is $33.96 and its 200 day moving average is $31.36. Intel has a 12-month low of $24.59 and a 12-month high of $37.19.

Intel (NASDAQ:INTC) last posted its quarterly earnings data on Thursday, July 27th. The chip maker reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.14. The company had revenue of $12.95 billion for the quarter, compared to the consensus estimate of $12.03 billion. Intel had a negative net margin of 1.71% and a positive return on equity of 1.70%. On average, equities research analysts predict that Intel will post -0.11 EPS for the current year.

Intel Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Monday, August 7th will be issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date is Friday, August 4th. Intel’s payout ratio is -227.26%.

Analyst Ratings Changes

A number of brokerages recently issued reports on INTC. JPMorgan Chase & Co. lifted their price target on shares of Intel from $30.00 to $35.00 and gave the company an “underweight” rating in a research report on Friday, July 28th. Barclays lifted their price target on shares of Intel from $30.00 to $32.00 and gave the company an “equal weight” rating in a research report on Friday, July 28th. Rosenblatt Securities reissued a “sell” rating and set a $17.00 price target on shares of Intel in a research report on Thursday, July 27th. Tigress Financial lowered their price target on shares of Intel from $72.00 to $46.00 and set a “buy” rating for the company in a research report on Friday, August 4th. Finally, Raymond James lifted their price target on shares of Intel from $35.00 to $42.00 and gave the company an “outperform” rating in a research report on Friday, July 28th. Six research analysts have rated the stock with a sell rating, twenty-two have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $33.55.

Insider Buying and Selling at Intel

In other news, major shareholder Corp Intel sold 38,500,000 shares of the firm’s stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $40.84, for a total value of $1,572,340,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Patrick P. Gelsinger bought 3,850 shares of the company’s stock in a transaction dated Wednesday, August 2nd. The stock was purchased at an average cost of $34.63 per share, with a total value of $133,325.50. Following the transaction, the chief executive officer now owns 105,495 shares in the company, valued at approximately $3,653,291.85. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Corp Intel sold 38,500,000 shares of the firm’s stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $40.84, for a total transaction of $1,572,340,000.00. The disclosure for this sale can be found here. Insiders sold 38,500,002 shares of company stock valued at $1,572,340,065 in the last quarter. Company insiders own 0.04% of the company’s stock.

Hedge Funds Weigh In On Intel

Several large investors have recently added to or reduced their stakes in the company. Brown Shipley& Co Ltd lifted its holdings in Intel by 4,828.0% during the second quarter. Brown Shipley& Co Ltd now owns 119,505 shares of the chip maker’s stock valued at $3,996,000 after purchasing an additional 117,080 shares in the last quarter. ProVise Management Group LLC lifted its holdings in Intel by 8.3% during the second quarter. ProVise Management Group LLC now owns 15,785 shares of the chip maker’s stock valued at $528,000 after purchasing an additional 1,215 shares in the last quarter. Rehmann Capital Advisory Group lifted its holdings in Intel by 10.2% during the second quarter. Rehmann Capital Advisory Group now owns 49,088 shares of the chip maker’s stock valued at $1,642,000 after purchasing an additional 4,552 shares in the last quarter. Dunhill Financial LLC purchased a new position in Intel during the second quarter valued at approximately $117,000. Finally, Comerica Bank purchased a new position in Intel during the second quarter valued at approximately $1,218,830,000. Hedge funds and other institutional investors own 60.84% of the company’s stock.

About Intel

Intel Corporation designs, develops, manufactures, markets, and sells computing and related products worldwide. It operates through Client Computing Group, Data Center and AI, Network and Edge, Mobileye, Accelerated Computing Systems and Graphics, Intel Foundry Services, and Other segments. The company offers platform products, such as central processing units and chipsets, and system-on-chip and multichip packages; and accelerators, boards and systems, connectivity products, and memory and storage products.