Traders Buy Intel (INTC) on Weakness
Traders purchased shares of Intel Co. (NASDAQ:INTC) on weakness during trading hours on Wednesday. $208.38 million flowed into the stock on the tick-up and $154.47 million flowed out of the stock on the tick-down, for a money net flow of $53.91 million into the stock. Of all equities tracked, Intel had the 15th highest net in-flow for the day. Intel traded down ($0.55) for the day and closed at $45.51
INTC has been the topic of several recent analyst reports. Zacks Investment Research cut Intel from a “buy” rating to a “hold” rating in a research note on Tuesday, September 26th. ValuEngine upgraded Intel from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Vetr cut Intel from a “strong-buy” rating to a “buy” rating and set a $42.80 price target on the stock. in a research note on Tuesday, October 3rd. Royal Bank of Canada reiterated a “sector perform” rating and issued a $40.00 price target (up previously from $37.00) on shares of Intel in a research note on Friday, October 6th. Finally, Mizuho reiterated a “buy” rating and issued a $45.00 price target (up previously from $42.00) on shares of Intel in a research note on Monday, October 9th. Four equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-eight have given a buy rating to the company. Intel currently has an average rating of “Buy” and an average price target of $44.72.
The company has a market cap of $212,990.00, a price-to-earnings ratio of 15.96, a P/E/G ratio of 1.66 and a beta of 1.06. The company has a current ratio of 1.60, a quick ratio of 1.27 and a debt-to-equity ratio of 0.39.
In other news, insider Venkata S. M. Renduchintala sold 1,424 shares of the company’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $46.73, for a total transaction of $66,543.52. Following the completion of the transaction, the insider now directly owns 1,536 shares of the company’s stock, valued at $71,777.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Diane M. Bryant sold 2,119 shares of the company’s stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $41.06, for a total value of $87,006.14. Following the transaction, the executive vice president now directly owns 114,091 shares of the company’s stock, valued at $4,684,576.46. The disclosure for this sale can be found here. Insiders have sold 1,485,415 shares of company stock valued at $65,733,081 over the last ninety days. Corporate insiders own 0.08% of the company’s stock.
A number of hedge funds have recently modified their holdings of INTC. Janus Henderson Group PLC grew its holdings in Intel by 4,951.1% in the 2nd quarter. Janus Henderson Group PLC now owns 20,455,051 shares of the chip maker’s stock worth $690,156,000 after buying an additional 20,050,088 shares in the last quarter. Capital Research Global Investors boosted its stake in Intel by 9.1% during the 2nd quarter. Capital Research Global Investors now owns 128,581,621 shares of the chip maker’s stock valued at $4,338,344,000 after purchasing an additional 10,744,753 shares in the last quarter. Capital World Investors boosted its stake in Intel by 5.5% during the 2nd quarter. Capital World Investors now owns 197,750,361 shares of the chip maker’s stock valued at $6,672,097,000 after purchasing an additional 10,257,260 shares in the last quarter. Capital International Investors bought a new position in Intel during the 3rd quarter valued at $339,563,000. Finally, Vanguard Group Inc. boosted its stake in Intel by 2.5% during the 2nd quarter. Vanguard Group Inc. now owns 333,500,073 shares of the chip maker’s stock valued at $11,252,292,000 after purchasing an additional 8,087,302 shares in the last quarter. 67.48% of the stock is owned by institutional investors and hedge funds.
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Intel 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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