Intel Co. (NASDAQ:INTC) Short Interest Down 12.3% in October

by · The Markets Daily

Intel Co. (NASDAQ:INTC – Get Free Report) was the target of a significant decline in short interest in October. As of October 15th, there was short interest totalling 103,260,000 shares, a decline of 12.3% from the September 30th total of 117,680,000 shares. Based on an average daily volume of 81,370,000 shares, the days-to-cover ratio is currently 1.3 days.

Intel Price Performance

INTC traded down $0.78 during trading on Thursday, hitting $21.52. The company’s stock had a trading volume of 110,401,746 shares, compared to its average volume of 58,829,703. The company has a current ratio of 1.59, a quick ratio of 1.24 and a debt-to-equity ratio of 0.40. Intel has a twelve month low of $18.51 and a twelve month high of $51.28. The business’s fifty day simple moving average is $21.71 and its 200 day simple moving average is $27.15. The firm has a market capitalization of $91.61 billion, a price-to-earnings ratio of 22.59 and a beta of 1.03.

Intel (NASDAQ:INTC – Get Free Report) 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 net margin of 1.77% and a return on equity of 1.78%. The firm had revenue of $12.80 billion during the quarter, compared to analysts’ expectations of $12.92 billion. During the same quarter last year, the business earned ($0.05) EPS. The business’s revenue was down .8% compared to the same quarter last year. On average, equities research analysts forecast that Intel will post -0.47 EPS for the current fiscal year.

Insider Transactions at Intel

In other news, CEO Patrick P. Gelsinger bought 12,500 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were acquired at an average cost of $20.16 per share, for a total transaction of $252,000.00. Following the completion of the acquisition, the chief executive officer now owns 37,975 shares in the company, valued at approximately $765,576. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.04% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Intel

A number of institutional investors have recently added to or reduced their stakes in INTC. Capital International Investors increased its stake in Intel by 16.0% during the first quarter. Capital International Investors now owns 112,093,582 shares of the chip maker’s stock worth $4,951,174,000 after acquiring an additional 15,475,631 shares during the last quarter. Van ECK Associates Corp increased its stake in Intel by 60.5% during the second quarter. Van ECK Associates Corp now owns 34,591,800 shares of the chip maker’s stock worth $1,071,308,000 after acquiring an additional 13,035,566 shares during the last quarter. Davis Selected Advisers increased its stake in Intel by 86.2% during the second quarter. Davis Selected Advisers now owns 12,642,316 shares of the chip maker’s stock worth $391,533,000 after acquiring an additional 5,851,098 shares during the last quarter. Caxton Associates LP acquired a new stake in Intel during the second quarter worth $162,592,000. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its stake in Intel by 2,681.1% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,431,749 shares of the chip maker’s stock worth $137,251,000 after acquiring an additional 4,272,395 shares during the last quarter. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Analyst Upgrades and Downgrades

INTC has been the subject of several recent analyst reports. Stifel Nicolaus reaffirmed a “hold” rating and set a $25.00 price objective (down previously from $28.00) on shares of Intel in a research report on Friday, October 25th. Morgan Stanley dropped their target price on shares of Intel from $36.00 to $25.00 and set an “equal weight” rating for the company in a report on Friday, August 2nd. Argus downgraded Intel from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Mizuho downgraded Intel from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $36.00 to $22.00 in a research note on Thursday, August 8th. Finally, Bank of America downgraded shares of Intel from a “neutral” rating to an “underperform” rating and decreased their target price for the company from $35.00 to $23.00 in a research report on Friday, August 2nd. Six analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $30.80.

Read Our Latest Stock Report on Intel

Intel Company Profile

(Get Free Report)

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.

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