Traders Sell Intel (INTC) on Strength (INTC)

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Investors sold shares of Intel Co. (NASDAQ:INTC) on strength during trading hours on Tuesday. $95.33 million flowed into the stock on the tick-up and $277.43 million flowed out of the stock on the tick-down, for a money net flow of $182.10 million out of the stock. Of all stocks tracked, Intel had the 33rd highest net out-flow for the day. Intel traded up $0.22 for the day and closed at $53.57

A number of research firms have issued reports on INTC. Royal Bank of Canada restated a “neutral” rating and set a $55.00 target price on shares of Intel in a research report on Wednesday, January 23rd. BidaskClub downgraded shares of Intel from a “buy” rating to a “hold” rating in a research report on Thursday, January 17th. Morgan Stanley upgraded shares of Intel from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $55.00 to $64.00 in a research report on Friday, February 22nd. Citigroup upped their target price on shares of Intel from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Friday, January 11th. Finally, Credit Suisse Group restated a “buy” rating and set a $58.00 target price on shares of Intel in a research report on Monday, January 28th. Six equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $54.33.

The stock has a market cap of $254.36 billion, a price-to-earnings ratio of 11.67, a P/E/G ratio of 1.41 and a beta of 0.79. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.30 and a current ratio of 1.73.

Intel (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, January 24th. The chip maker reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.22 by $0.06. The business had revenue of $18.66 billion for the quarter, compared to the consensus estimate of $19.02 billion. Intel had a net margin of 29.72% and a return on equity of 30.08%. Intel’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period last year, the company posted $1.08 EPS. Equities research analysts expect that Intel Co. will post 4.5 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Thursday, February 7th were given a $0.315 dividend. This represents a $1.26 dividend on an annualized basis and a dividend yield of 2.36%. This is an increase from Intel’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Wednesday, February 6th. Intel’s dividend payout ratio (DPR) is currently 27.51%.

Intel announced that its Board of Directors has authorized a share repurchase plan on Thursday, November 15th that permits the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization permits the chip maker to purchase up to 6.8% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.

In other Intel news, EVP Navin Shenoy sold 14,493 shares of the firm’s stock in a transaction that occurred on Tuesday, February 26th. The shares were sold at an average price of $53.03, for a total transaction of $768,563.79. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Andy D. Bryant sold 11,734 shares of the firm’s stock in a transaction that occurred on Tuesday, February 26th. The stock was sold at an average price of $53.03, for a total transaction of $622,254.02. The disclosure for this sale can be found here. Insiders sold a total of 40,262 shares of company stock worth $2,061,469 over the last quarter. 0.03% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in INTC. Tributary Capital Management LLC bought a new position in shares of Intel during the 4th quarter worth approximately $28,000. Next Capital Management LLC bought a new position in shares of Intel during the 4th quarter worth approximately $46,000. Virtus ETF Advisers LLC bought a new position in shares of Intel during the 4th quarter worth approximately $48,000. Stevens First Principles Investment Advisors bought a new position in shares of Intel during the 4th quarter worth approximately $53,000. Finally, Tortoise Investment Management LLC grew its stake in shares of Intel by 86.7% during the 3rd quarter. Tortoise Investment Management LLC now owns 1,249 shares of the chip maker’s stock worth $59,000 after acquiring an additional 580 shares in the last quarter. Hedge funds and other institutional investors own 63.78% of the company’s stock.

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About Intel (NASDAQ:INTC)

Intel Corporation offers computing, networking, data storage, and communication solutions worldwide. It operates through Client Computing Group, Data Center Group, Internet of Things Group, Non-Volatile Memory Solutions Group, Programmable Solutions Group, and All Other segments. The company offers microprocessors, and system-on-chip and multichip packaging products.

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