Intel Co. (NASDAQ:INTC) Short Interest Update

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

Wall Street Analysts Forecast Growth

INTC has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Intel from $27.00 to $25.00 and set a “hold” rating for the company in a research note on Thursday, October 3rd. Morgan Stanley lowered their target price on Intel from $36.00 to $25.00 and set an “equal weight” rating for the company in a research report on Friday, August 2nd. JPMorgan Chase & Co. decreased their price target on Intel from $35.00 to $26.00 and set an “underweight” rating for the company in a research note on Friday, August 2nd. Northland Securities cut their price objective on Intel from $68.00 to $42.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Finally, Susquehanna reduced their target price on Intel from $35.00 to $26.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Six equities research analysts have rated the stock with a sell rating, twenty-four have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $30.80.

Insider Activity

In other news, CEO Patrick P. Gelsinger acquired 12,500 shares of Intel stock in a transaction that occurred on Monday, August 5th. The shares were acquired at an average price of $20.16 per share, for a total transaction of $252,000.00. Following the transaction, the chief executive officer now directly owns 37,975 shares of the company’s stock, valued at approximately $765,576. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.04% of the stock is owned by corporate insiders.

Institutional Trading of Intel

Several institutional investors and hedge funds have recently modified their holdings of INTC. William B. Walkup & Associates Inc. bought a new stake in shares of Intel in the 2nd quarter worth approximately $2,178,000. Fortis Group Advisors LLC increased its position in Intel by 1,052.9% during the 3rd quarter. Fortis Group Advisors LLC now owns 172,996 shares of the chip maker’s stock valued at $4,058,000 after purchasing an additional 157,991 shares during the period. Private Advisory Group LLC bought a new position in Intel in the 3rd quarter worth $8,045,000. Sanibel Captiva Trust Company Inc. lifted its position in shares of Intel by 21.1% in the 3rd quarter. Sanibel Captiva Trust Company Inc. now owns 279,591 shares of the chip maker’s stock worth $6,559,000 after purchasing an additional 48,765 shares during the period. Finally, Forsta AP Fonden boosted its stake in shares of Intel by 4.6% during the 3rd quarter. Forsta AP Fonden now owns 949,146 shares of the chip maker’s stock valued at $22,267,000 after purchasing an additional 41,900 shares in the last quarter. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Intel Price Performance

Shares of INTC stock traded down $0.78 during trading hours on Thursday, reaching $21.52. The stock had a trading volume of 110,401,746 shares, compared to its average volume of 58,829,703. The stock’s fifty day simple moving average is $21.71 and its 200 day simple moving average is $27.15. The company has a current ratio of 1.59, a quick ratio of 1.24 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $91.61 billion, a PE 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.

Intel (NASDAQ:INTC) last released its quarterly earnings results on Thursday, August 1st. The chip maker reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.08). Intel had a return on equity of 1.78% and a net margin of 1.77%. The firm had revenue of $12.80 billion during the quarter, compared to the consensus estimate of $12.92 billion. During the same period in the previous year, the company posted ($0.05) EPS. The company’s revenue for the quarter was down .8% compared to the same quarter last year. On average, equities research analysts predict that Intel will post -0.47 EPS for the current year.

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.