Short Interest in Intel Co. (NASDAQ:INTC) Decreases By 9.6%

Intel Co. (NASDAQ:INTC) was the target of a significant decrease in short interest in August. As of August 31st, there was short interest totalling 108,160,000 shares, a decrease of 9.6% from the August 15th total of 119,660,000 shares. Based on an average daily trading volume, of 66,210,000 shares, the days-to-cover ratio is presently 1.6 days.

Intel Trading Up 2.7 %

Shares of NASDAQ:INTC traded up $0.56 during mid-day trading on Tuesday, hitting $21.47. The company had a trading volume of 195,724,492 shares, compared to its average volume of 55,867,715. The firm has a fifty day moving average price of $24.45 and a 200 day moving average price of $31.29. Intel has a one year low of $18.51 and a one year 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. The company has a market capitalization of $91.40 billion, a PE ratio of 22.36 and a beta of 1.03.

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

Intel Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th were paid a $0.125 dividend. The ex-dividend date was Wednesday, August 7th. This represents a $0.50 annualized dividend and a yield of 2.33%. Intel’s dividend payout ratio (DPR) is 52.08%.

Insider Buying and Selling

In related news, CEO Patrick P. Gelsinger purchased 12,500 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were bought at an average price of $20.16 per share, for a total transaction of $252,000.00. Following the completion of the transaction, the chief executive officer now owns 37,975 shares of the company’s stock, valued at $765,576. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.04% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Intel

Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its position in Intel by 0.9% during the first quarter. Vanguard Group Inc. now owns 389,098,435 shares of the chip maker’s stock valued at $17,186,478,000 after buying an additional 3,310,528 shares during the period. Capital International Investors boosted its stake in Intel by 16.0% in the first quarter. Capital International Investors now owns 112,093,582 shares of the chip maker’s stock valued at $4,951,174,000 after acquiring an additional 15,475,631 shares during the last quarter. Primecap Management Co. CA grew its position in shares of Intel by 2.2% during the 2nd quarter. Primecap Management Co. CA now owns 77,822,587 shares of the chip maker’s stock valued at $2,410,166,000 after acquiring an additional 1,697,550 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of Intel by 6.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 39,841,750 shares of the chip maker’s stock worth $1,759,811,000 after purchasing an additional 2,457,243 shares during the last quarter. Finally, Legal & General Group Plc increased its stake in shares of Intel by 1.3% during the 2nd quarter. Legal & General Group Plc now owns 37,513,226 shares of the chip maker’s stock worth $1,161,779,000 after purchasing an additional 487,191 shares during the last quarter. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on INTC shares. Bank of America downgraded shares of Intel from a “neutral” rating to an “underperform” rating and lowered their price objective for the company from $35.00 to $23.00 in a research report on Friday, August 2nd. Daiwa America raised Intel to a “hold” rating in a report on Monday, August 26th. Cantor Fitzgerald decreased their target price on Intel from $40.00 to $27.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. HSBC downgraded Intel from a “hold” rating to a “reduce” rating in a research note on Friday, August 2nd. Finally, Northland Securities reduced their price target on shares of Intel from $68.00 to $42.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Six 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 stock. According to data from MarketBeat, Intel currently has a consensus rating of “Hold” and a consensus target price of $32.04.

Intel Company Profile

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.