Intel Co. (NASDAQ:INTC) Short Interest Update

Intel Co. (NASDAQ:INTC) was the recipient of a large decline in short interest in October. As of October 15th, there was short interest totalling 103,260,000 shares, a decline of 12.3% from the September 30th total of 117,680,000 shares. Based on an average daily trading volume, of 81,370,000 shares, the short-interest ratio is currently 1.3 days.

Insider Activity

In other Intel news, CEO Patrick P. Gelsinger purchased 12,500 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was bought at an average cost of $20.16 per share, with a total value of $252,000.00. Following the transaction, the chief executive officer now directly owns 37,975 shares in the company, valued at approximately $765,576. The trade was a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.04% of the company’s stock.

Institutional Investors Weigh In On Intel

A number of hedge funds have recently made changes to their positions in INTC. Aviance Capital Partners LLC lifted its position in Intel by 33.3% during the first quarter. Aviance Capital Partners LLC now owns 13,714 shares of the chip maker’s stock valued at $606,000 after purchasing an additional 3,426 shares during the last quarter. Miracle Mile Advisors LLC lifted its holdings in shares of Intel by 1.7% in the 1st quarter. Miracle Mile Advisors LLC now owns 32,393 shares of the chip maker’s stock valued at $1,431,000 after acquiring an additional 548 shares during the last quarter. Claro Advisors LLC grew its position in Intel by 10.5% in the first quarter. Claro Advisors LLC now owns 10,078 shares of the chip maker’s stock worth $445,000 after acquiring an additional 958 shares in the last quarter. AlphaMark Advisors LLC raised its position in Intel by 39.4% during the first quarter. AlphaMark Advisors LLC now owns 3,537 shares of the chip maker’s stock valued at $156,000 after purchasing an additional 1,000 shares during the period. Finally, Tributary Capital Management LLC bought a new stake in shares of Intel in the 1st quarter valued at approximately $27,000. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

Intel Stock Performance

Shares of INTC stock traded down $0.78 during trading hours on Thursday, reaching $21.52. 110,401,746 shares of the company traded hands, compared to its average volume of 58,829,703. The firm has a 50-day moving average price of $21.71 and a 200 day moving average price of $27.15. The company has a market cap of $91.61 billion, a P/E ratio of 22.59 and a beta of 1.03. Intel has a 12-month low of $18.51 and a 12-month high of $51.28. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.59 and a quick ratio of 1.24.

Intel (NASDAQ:INTC) last released its quarterly earnings data on Thursday, August 1st. The chip maker reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.08). The company had revenue of $12.80 billion for the quarter, compared to the consensus estimate of $12.92 billion. Intel had a net margin of 1.77% and a return on equity of 1.78%. The company’s quarterly revenue was down .8% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.05) EPS. As a group, sell-side analysts predict that Intel will post -0.47 earnings per share for the current fiscal year.

Analysts Set New Price Targets

INTC has been the subject of a number of analyst reports. Bank of America lowered Intel from a “neutral” rating to an “underperform” rating and reduced their price objective for the company from $35.00 to $23.00 in a research report on Friday, August 2nd. Susquehanna cut their price objective on shares of Intel from $35.00 to $26.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Wedbush decreased their target price on shares of Intel from $32.50 to $25.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Raymond James cut shares of Intel from an “outperform” rating to a “market perform” rating in a report on Friday, August 2nd. Finally, TD Cowen upgraded shares of Intel to a “hold” rating in a report on Monday, September 16th. Six research analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $30.80.

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.