Intel Co. (NASDAQ:INTC) Short Interest Update

Intel Co. (NASDAQ:INTC) was the recipient of a large growth in short interest in August. As of August 15th, there was short interest totalling 119,660,000 shares, a growth of 31.3% from the July 31st total of 91,160,000 shares. Based on an average daily volume of 60,350,000 shares, the days-to-cover ratio is presently 2.0 days.

Intel Stock Performance

Intel stock traded up $1.91 during midday trading on Friday, reaching $22.04. 177,785,378 shares of the company traded hands, compared to its average volume of 86,373,080. 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 has a 12 month low of $18.84 and a 12 month high of $51.28. The firm has a market capitalization of $94.24 billion, a price-to-earnings ratio of 22.96 and a beta of 1.05. The business has a 50 day moving average of $27.24 and a two-hundred day moving average of $33.41.

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 business had revenue of $12.80 billion during the quarter, compared to the consensus estimate of $12.92 billion. During the same quarter in the previous year, the business posted ($0.05) earnings per share. The firm’s revenue was down .8% on a year-over-year basis. As a group, research analysts predict that Intel will post -0.46 earnings per share for the current year.

Intel Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th will be given a $0.125 dividend. The ex-dividend date is Wednesday, August 7th. This represents a $0.50 annualized dividend and a yield of 2.27%. Intel’s payout ratio is presently 52.08%.

Insider Transactions at Intel

In other news, CEO Patrick P. Gelsinger acquired 12,500 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was purchased at an average cost of $20.16 per share, for a total transaction of $252,000.00. Following the acquisition, the chief executive officer now owns 37,975 shares of the company’s stock, valued at $765,576. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.04% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in INTC. Burkett Financial Services LLC purchased a new stake in shares of Intel in the fourth quarter worth $27,000. Frazier Financial Advisors LLC purchased a new stake in shares of Intel in the fourth quarter worth $27,000. Tributary Capital Management LLC purchased a new stake in shares of Intel in the first quarter worth $27,000. Signature Resources Capital Management LLC purchased a new stake in shares of Intel in the fourth quarter worth $37,000. Finally, Bare Financial Services Inc purchased a new stake in shares of Intel in the fourth quarter worth $39,000. 64.53% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on INTC shares. Susquehanna cut their price objective on Intel from $35.00 to $26.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Bank of America lowered Intel from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $35.00 to $23.00 in a research note on Friday, August 2nd. Deutsche Bank Aktiengesellschaft cut their target price on shares of Intel from $38.00 to $27.00 and set a “hold” rating on the stock in a research note on Friday, August 2nd. JPMorgan Chase & Co. dropped their price objective on shares of Intel from $35.00 to $26.00 and set an “underweight” rating on the stock in a research note on Friday, August 2nd. Finally, Rosenblatt Securities reissued a “sell” rating and set a $17.00 price objective on shares of Intel in a research note on Friday, August 2nd. Six research analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $32.04.

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.