Intel Co. (NASDAQ:INTC) Sees Significant Drop in Short Interest

Intel Co. (NASDAQ:INTC - Get Free Report) was the recipient of a large drop in short interest during the month of April. As of April 30th, there was short interest totalling 70,350,000 shares, a drop of 7.8% from the April 15th total of 76,280,000 shares. Based on an average trading volume of 49,380,000 shares, the days-to-cover ratio is currently 1.4 days.

Insider Activity

In related news, CEO Patrick P. Gelsinger bought 4,100 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were acquired at an average cost of $30.29 per share, with a total value of $124,189.00. Following the completion of the purchase, the chief executive officer now directly owns 39,375 shares of the company's stock, valued at approximately $1,192,668.75. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Intel news, CEO Patrick P. Gelsinger bought 4,000 shares of the firm's stock in a transaction that occurred on Monday, April 29th. The shares were bought at an average price of $31.42 per share, for a total transaction of $125,680.00. Following the transaction, the chief executive officer now directly owns 35,275 shares in the company, valued at $1,108,340.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Patrick P. Gelsinger bought 4,100 shares of the company's stock in a transaction that occurred on Wednesday, May 1st. The shares were bought at an average price of $30.29 per share, with a total value of $124,189.00. Following the completion of the acquisition, the chief executive officer now directly owns 39,375 shares in the company, valued at $1,192,668.75. The disclosure for this purchase can be found here. Corporate insiders own 0.04% of the company's stock.

Hedge Funds Weigh In On Intel

Hedge funds have recently bought and sold shares of the business. New Millennium Group LLC increased its stake in shares of Intel by 87.2% during the fourth quarter. New Millennium Group LLC now owns 496 shares of the chip maker's stock valued at $25,000 after buying an additional 231 shares during the period. Burkett Financial Services LLC purchased a new position in Intel during the 4th quarter valued at about $27,000. Frazier Financial Advisors LLC bought a new stake in shares of Intel in the 4th quarter valued at about $27,000. Tributary Capital Management LLC purchased a new stake in shares of Intel in the 1st quarter worth approximately $27,000. Finally, Valued Wealth Advisors LLC bought a new position in shares of Intel during the fourth quarter valued at approximately $36,000. Institutional investors own 64.53% of the company's stock.

Intel Price Performance

Shares of Intel stock traded down $0.20 during trading hours on Friday, reaching $31.83. The company's stock had a trading volume of 41,383,695 shares, compared to its average volume of 48,302,965. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.57 and a quick ratio of 1.14. Intel has a one year low of $26.85 and a one year high of $51.28. The firm has a 50 day moving average price of $37.25 and a 200-day moving average price of $41.78. The stock has a market cap of $135.50 billion, a P/E ratio of 33.36, a P/E/G ratio of 10.24 and a beta of 1.09.

Intel (NASDAQ:INTC - Get Free Report) last issued its quarterly earnings data on Thursday, April 25th. The chip maker reported ($0.06) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.03). The company had revenue of $12.72 billion for the quarter, compared to analysts' expectations of $12.76 billion. Intel had a net margin of 7.36% and a return on equity of 2.19%. On average, analysts predict that Intel will post 0.13 EPS for the current year.

Intel Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Tuesday, May 7th will be issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date of this dividend is Monday, May 6th. Intel's payout ratio is currently 52.08%.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Benchmark reissued a "buy" rating and issued a $62.00 target price on shares of Intel in a research note on Wednesday, April 3rd. JPMorgan Chase & Co. dropped their target price on shares of Intel from $37.00 to $35.00 and set an "underweight" rating on the stock in a report on Friday, April 26th. Mizuho lowered their price objective on Intel from $55.00 to $45.00 and set a "buy" rating on the stock in a research report on Friday, April 26th. Evercore ISI dropped their price target on Intel from $40.00 to $36.00 and set an "in-line" rating on the stock in a research note on Friday, April 26th. Finally, UBS Group boosted their price objective on shares of Intel from $46.00 to $50.00 and gave the company a "neutral" rating in a research report on Monday, April 1st. Three investment analysts have rated the stock with a sell rating, twenty-three have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $39.58.

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.