Stock Traders Buy High Volume of Intel Put Options (NASDAQ:INTC)

Intel Co. (NASDAQ:INTC) was the recipient of unusually large options trading on Wednesday. Stock traders purchased 471,563 put options on the company. This is an increase of approximately 81% compared to the typical daily volume of 260,841 put options.

Intel Price Performance

NASDAQ INTC opened at $30.00 on Thursday. Intel has a 12 month low of $26.85 and a 12 month high of $51.28. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.57 and a quick ratio of 1.14. The firm has a market capitalization of $127.71 billion, a PE ratio of 31.25, a P/E/G ratio of 10.05 and a beta of 1.09. The company’s 50 day simple moving average is $39.12 and its 200 day simple moving average is $42.05.

Intel Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Tuesday, May 7th will be given a $0.125 dividend. The ex-dividend date of this dividend is Monday, May 6th. This represents a $0.50 annualized dividend and a yield of 1.67%. Intel’s dividend payout ratio (DPR) is 52.08%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Rosenblatt Securities reiterated a “sell” rating and issued a $17.00 price target on shares of Intel in a report on Friday, April 26th. Truist Financial decreased their price target on shares of Intel from $45.00 to $33.00 and set a “hold” rating for the company in a research report on Friday, April 26th. JPMorgan Chase & Co. cut their price objective on shares of Intel from $37.00 to $35.00 and set an “underweight” rating on the stock in a report on Friday, April 26th. Morgan Stanley cut their price objective on shares of Intel from $48.00 to $36.00 and set an “equal weight” rating on the stock in a report on Friday, April 26th. Finally, Wells Fargo & Company cut their target price on shares of Intel from $43.00 to $38.00 and set an “equal weight” rating on the stock in a research note on Friday, April 26th. Four analysts have rated the stock with a sell rating, twenty-one have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Intel presently has a consensus rating of “Hold” and an average target price of $39.75.

Insider Buying and Selling

In other Intel news, CEO Patrick P. Gelsinger acquired 4,100 shares of the stock in a transaction on Wednesday, May 1st. The shares were bought at an average price of $30.29 per share, with a total value of $124,189.00. Following the acquisition, the chief executive officer now owns 39,375 shares of the company’s stock, valued at $1,192,668.75. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Patrick P. Gelsinger purchased 4,100 shares of Intel stock in a transaction dated Wednesday, May 1st. The stock was bought at an average cost of $30.29 per share, for a total transaction of $124,189.00. Following the transaction, the chief executive officer now owns 39,375 shares in the company, valued at $1,192,668.75. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Patrick P. Gelsinger purchased 4,000 shares of Intel stock in a transaction dated Monday, April 29th. The shares were bought at an average price of $31.42 per share, with a total value of $125,680.00. Following the completion of the transaction, the chief executive officer now owns 35,275 shares in the company, valued at approximately $1,108,340.50. The disclosure for this purchase can be found here. Corporate insiders own 0.04% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Barrett & Company Inc. grew its stake in shares of Intel by 6.1% during the 4th quarter. Barrett & Company Inc. now owns 3,662 shares of the chip maker’s stock valued at $184,000 after acquiring an additional 210 shares during the period. Revolve Wealth Partners LLC raised its holdings in shares of Intel by 3.0% during the 4th quarter. Revolve Wealth Partners LLC now owns 7,397 shares of the chip maker’s stock worth $372,000 after acquiring an additional 216 shares in the last quarter. New Millennium Group LLC raised its holdings in Intel by 87.2% during the 4th quarter. New Millennium Group LLC now owns 496 shares of the chip maker’s stock valued at $25,000 after buying an additional 231 shares during the period. Waldron Private Wealth LLC raised its holdings in Intel by 0.6% during the 4th quarter. Waldron Private Wealth LLC now owns 41,074 shares of the chip maker’s stock valued at $2,063,000 after buying an additional 232 shares during the period. Finally, Spreng Capital Management Inc. raised its holdings in Intel by 1.3% during the 4th quarter. Spreng Capital Management Inc. now owns 19,644 shares of the chip maker’s stock valued at $987,000 after buying an additional 246 shares during the period. Institutional investors and hedge funds own 64.53% of the company’s stock.

About Intel

Intel Corporation designs, develops, manufactures, markets, and sells computing and related products and services worldwide. It operates through Client Computing Group, Data Center and AI, Network and Edge, Mobileye, and Intel Foundry Services segments. The company's products portfolio comprises central processing units and chipsets, system-on-chips (SoCs), and multichip packages; mobile and desktop processors; hardware products comprising graphics processing units (GPUs), domain-specific accelerators, and field programmable gate arrays (FPGAs); and memory and storage, connectivity and networking, and other semiconductor products.