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

Intel Co. (NASDAQ:INTC) saw unusually large options trading activity on Friday. Stock traders purchased 511,259 call options on the stock. This is an increase of 49% compared to the average daily volume of 343,755 call options.

Insider Buying and Selling

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of Intel stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $26.00, for a total transaction of $650,000.00. Following the transaction, the executive vice president now owns 273,258 shares in the company, valued at approximately $7,104,708. The trade was a 8.38 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.04% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Intel

Several hedge funds and other institutional investors have recently bought and sold shares of the business. State Street Corp increased its stake in shares of Intel by 2.8% in the third quarter. State Street Corp now owns 197,958,739 shares of the chip maker’s stock worth $4,644,112,000 after acquiring an additional 5,417,753 shares during the period. Geode Capital Management LLC grew its position in Intel by 4.6% during the 3rd quarter. Geode Capital Management LLC now owns 92,510,098 shares of the chip maker’s stock worth $2,162,891,000 after purchasing an additional 4,103,553 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Intel by 28.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 58,469,412 shares of the chip maker’s stock valued at $1,371,692,000 after buying an additional 12,865,308 shares during the last quarter. Van ECK Associates Corp lifted its holdings in shares of Intel by 27.2% in the 3rd quarter. Van ECK Associates Corp now owns 44,013,936 shares of the chip maker’s stock valued at $967,426,000 after buying an additional 9,422,136 shares during the period. Finally, Legal & General Group Plc boosted its stake in shares of Intel by 1.3% in the second quarter. Legal & General Group Plc now owns 37,513,226 shares of the chip maker’s stock worth $1,161,779,000 after buying an additional 487,191 shares during the last quarter. Institutional investors and hedge funds own 64.53% of the company’s stock.

Analysts Set New Price Targets

INTC has been the topic of several research analyst reports. Robert W. Baird boosted their price objective on Intel from $20.00 to $25.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Truist Financial upped their price target on Intel from $25.00 to $26.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. Needham & Company LLC reiterated a “hold” rating on shares of Intel in a research report on Friday, November 1st. Barclays dropped their target price on shares of Intel from $25.00 to $23.00 and set an “equal weight” rating for the company in a research report on Friday. Finally, Northland Securities reduced their price target on shares of Intel from $42.00 to $28.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Six analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Intel has a consensus rating of “Hold” and a consensus price target of $29.88.

Intel Stock Performance

INTC stock traded up $1.82 during trading on Friday, reaching $21.49. The company had a trading volume of 163,396,661 shares, compared to its average volume of 65,582,438. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.97 and a current ratio of 1.31. Intel has a twelve month low of $18.51 and a twelve month high of $50.30. The company has a market cap of $92.69 billion, a price-to-earnings ratio of -5.78, a price-to-earnings-growth ratio of 8.53 and a beta of 1.07. The firm has a 50-day simple moving average of $21.78 and a 200-day simple moving average of $23.47.

Intel (NASDAQ:INTC) last announced its quarterly earnings data on Thursday, October 31st. The chip maker reported ($0.46) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.44). The company had revenue of $13.30 billion for the quarter, compared to analysts’ expectations of $13.02 billion. Intel had a negative net margin of 29.42% and a negative return on equity of 1.71%. Intel’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same period last year, the firm earned $0.28 earnings per share. As a group, sell-side analysts expect that Intel will post -0.87 earnings per share for the current year.

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.