Intel (NASDAQ:INTC) Trading Up 3% on Insider Buying Activity

Intel Co. (NASDAQ:INTC) was up 3% during mid-day trading on Thursday after an insider bought additional shares in the company. The company traded as high as $19.57 and last traded at $19.56. Approximately 24,126,973 shares were traded during trading, a decline of 53% from the average daily volume of 51,189,824 shares. The stock had previously closed at $18.99.

Specifically, CEO Patrick P. Gelsinger purchased 12,500 shares of the company’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 purchase, the chief executive officer now directly owns 37,975 shares in the company, valued at approximately $765,576. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.04% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. lowered 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. The Goldman Sachs Group reduced their target price on shares of Intel from $29.00 to $22.00 and set a “sell” rating for the company in a report on Friday, August 2nd. TD Cowen reduced their target price on shares of Intel from $35.00 to $25.00 and set a “hold” rating for the company in a report on Friday, August 2nd. Roth Mkm reduced their target price on shares of Intel from $35.00 to $25.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Finally, Argus lowered shares of Intel from a “buy” rating to a “hold” rating in a report on Tuesday. Five equities research analysts have rated the stock with a sell rating, twenty-four have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $32.04.

Intel Stock Performance

The company has a market capitalization of $84.12 billion, a P/E ratio of 20.38, a P/E/G ratio of 17.38 and a beta of 1.05. The business has a 50-day moving average of $30.69 and a 200-day moving average of $36.20. 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 (NASDAQ:INTC) last released its 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 1.82% and a net margin of 1.77%. The business had revenue of $12.80 billion for the quarter, compared to the consensus estimate of $12.92 billion. During the same quarter last year, the business posted ($0.05) earnings per share. The firm’s revenue for the quarter was down .8% compared to the same quarter last year. On average, sell-side analysts anticipate that Intel Co. will post 0.07 EPS for the current year.

Intel Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th will be paid a dividend of $0.125 per share. The ex-dividend date is Wednesday, August 7th. This represents a $0.50 annualized dividend and a dividend yield of 2.53%. Intel’s dividend payout ratio is currently 52.08%.

Hedge Funds Weigh In On Intel

Institutional investors have recently made changes to their positions in the company. Waldron Private Wealth LLC raised its position in Intel by 0.6% during the 4th quarter. Waldron Private Wealth LLC now owns 41,074 shares of the chip maker’s stock worth $2,063,000 after buying an additional 232 shares during the last quarter. Johnson Financial Group Inc. raised its holdings in Intel by 4.5% during the fourth quarter. Johnson Financial Group Inc. now owns 5,730 shares of the chip maker’s stock worth $288,000 after purchasing an additional 247 shares in the last quarter. Benjamin Edwards Inc. lifted its position in Intel by 5.3% in the fourth quarter. Benjamin Edwards Inc. now owns 4,974 shares of the chip maker’s stock valued at $250,000 after purchasing an additional 249 shares during the period. Enterprise Financial Services Corp lifted its position in Intel by 2.2% in the fourth quarter. Enterprise Financial Services Corp now owns 11,461 shares of the chip maker’s stock valued at $576,000 after purchasing an additional 251 shares during the period. Finally, Summit Financial Strategies Inc. increased its position in Intel by 3.7% during the 4th quarter. Summit Financial Strategies Inc. now owns 7,385 shares of the chip maker’s stock worth $371,000 after purchasing an additional 265 shares during the period. Hedge funds and other institutional investors own 64.53% of the company’s stock.

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.