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

Intel Co. (NASDAQ:INTC) shares rose 3% during trading on Thursday following insider buying activity. The stock traded as high as $19.57 and last traded at $19.56. Approximately 24,126,973 shares traded hands during mid-day 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 bought 12,500 shares of Intel stock in a transaction dated Monday, August 5th. The stock was bought at an average cost of $20.16 per share, for a total transaction of $252,000.00. Following the purchase, the chief executive officer now owns 37,975 shares in the company, valued at approximately $765,576. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.04% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Morgan Stanley reduced their price objective 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. Hsbc Global Res cut Intel from a “hold” rating to a “moderate sell” rating in a research report on Friday, August 2nd. Argus lowered Intel from a “buy” rating to a “hold” rating in a research note on Tuesday. New Street Research lowered Intel from a “buy” rating to a “neutral” rating in a research note on Friday, August 2nd. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Intel in a research note on Friday, April 26th. Five analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and one has given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $32.04.

Intel Trading Up 4.1 %

The company has a debt-to-equity ratio of 0.43, a current ratio of 1.57 and a quick ratio of 1.14. The company has a fifty day moving average of $30.69 and a 200-day moving average of $36.20. The firm has a market capitalization of $84.12 billion, a PE ratio of 20.38, a price-to-earnings-growth ratio of 17.38 and a beta of 1.05.

Intel (NASDAQ:INTC) last posted 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 net margin of 1.77% and a return on equity of 1.82%. The company 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 earned ($0.05) earnings per share. Intel’s quarterly revenue was down .8% on a year-over-year basis. On average, sell-side analysts anticipate that Intel Co. will post 0.07 earnings per share for the current fiscal year.

Intel Announces Dividend

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

Hedge Funds Weigh In On Intel

Institutional investors have recently bought and sold shares of the stock. Slow Capital Inc. grew its position in shares of Intel by 0.9% in the fourth quarter. Slow Capital Inc. now owns 54,708 shares of the chip maker’s stock valued at $2,749,000 after purchasing an additional 508 shares during the last quarter. Altus Wealth Group LLC grew its position in shares of Intel by 29.4% in the fourth quarter. Altus Wealth Group LLC now owns 25,315 shares of the chip maker’s stock valued at $1,272,000 after purchasing an additional 5,759 shares during the last quarter. Orion Portfolio Solutions LLC grew its position in shares of Intel by 3.1% in the fourth quarter. Orion Portfolio Solutions LLC now owns 98,320 shares of the chip maker’s stock valued at $4,764,000 after purchasing an additional 2,915 shares during the last quarter. Brookstone Capital Management grew its position in shares of Intel by 65.2% in the first quarter. Brookstone Capital Management now owns 69,096 shares of the chip maker’s stock valued at $3,052,000 after purchasing an additional 27,274 shares during the last quarter. Finally, Callan Capital LLC grew its position in shares of Intel by 9.1% in the fourth quarter. Callan Capital LLC now owns 17,585 shares of the chip maker’s stock valued at $884,000 after purchasing an additional 1,474 shares during the last quarter. 64.53% of the stock is currently owned by institutional investors.

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.