Traders Buy Shares of Intel Corporation (NASDAQ:INTC) on Weakness Following Insider Selling

Traders purchased shares of Intel Corporation (NASDAQ:INTC) on weakness during trading hours on Thursday following insider selling activity. $150.93 million flowed into the stock on the tick-up and $105.21 million flowed out of the stock on the tick-down, for a money net flow of $45.72 million into the stock. Of all stocks tracked, Intel Corporation had the 15th highest net in-flow for the day. Intel Corporation traded down ($0.45) for the day and closed at $36.14Specifically, insider Venkata S. M. Renduchintala sold 1,424 shares of the firm’s stock in a transaction 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 completion of the sale, the insider now directly owns 1,536 shares in the company, valued at $55,910.40. The transaction was disclosed in a 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 on Monday, July 31st. The stock was 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 owns 1,536 shares of the company’s stock, valued at $54,481.92. The disclosure for this sale can be found here. Insiders sold 91,921 shares of company stock valued at $3,130,162 over the last 90 days. Corporate insiders own 0.09% of the company’s stock.

A number of research firms have commented on INTC. B. Riley restated a “buy” rating and issued a $44.00 price target on shares of Intel Corporation in a report on Wednesday, May 3rd. Vetr cut shares of Intel Corporation from a “strong-buy” rating to a “buy” rating and set a $40.26 price objective for the company. in a report on Tuesday. BidaskClub upgraded shares of Intel Corporation from a “hold” rating to a “buy” rating in a report on Thursday. Jefferies Group LLC set a $38.00 price objective on shares of Intel Corporation and gave the company a “hold” rating in a report on Saturday, June 3rd. Finally, Goldman Sachs Group, Inc. (The) reiterated a “hold” rating on shares of Intel Corporation in a report on Wednesday. Five research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and twenty-seven have issued a buy rating to the company. Intel Corporation currently has an average rating of “Hold” and a consensus target price of $40.55.

The company has a 50-day moving average of $34.84 and a 200 day moving average of $35.72. The company has a market capitalization of $168.55 billion, a price-to-earnings ratio of 13.69 and a beta of 1.01.

Intel Corporation (NASDAQ:INTC) last released its quarterly earnings data on Thursday, July 27th. The chip maker reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.04. The firm had revenue of $14.76 billion during the quarter, compared to the consensus estimate of $14.39 billion. Intel Corporation had a return on equity of 21.86% and a net margin of 20.60%. The firm’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.59 earnings per share. Equities research analysts predict that Intel Corporation will post $3.01 earnings per share for the current fiscal year.

The company 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 $0.2725 dividend. The ex-dividend date is Thursday, August 3rd. This represents a $1.09 annualized dividend and a dividend yield of 3.04%. Intel Corporation’s payout ratio is currently 41.76%.

Several hedge funds have recently added to or reduced their stakes in INTC. Arrowstreet Capital Limited Partnership increased its stake in Intel Corporation by 4.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 10,735,473 shares of the chip maker’s stock valued at $389,376,000 after buying an additional 417,669 shares during the last quarter. Capital Guardian Trust Co. increased its stake in Intel Corporation by 13.0% in the fourth quarter. Capital Guardian Trust Co. now owns 62,985 shares of the chip maker’s stock valued at $2,284,000 after buying an additional 7,255 shares during the last quarter. Pinnacle Financial Partners Inc. increased its stake in Intel Corporation by 7.1% in the fourth quarter. Pinnacle Financial Partners Inc. now owns 176,010 shares of the chip maker’s stock valued at $6,383,000 after buying an additional 11,706 shares during the last quarter. Narus Financial Partners LLC purchased a new stake in Intel Corporation during the fourth quarter valued at $295,000. Finally, RB Capital Management LLC purchased a new stake in Intel Corporation during the fourth quarter valued at $858,000. Hedge funds and other institutional investors own 67.50% of the company’s stock.

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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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