Intel Co. (NASDAQ:INTC) Short Interest Up 7.1% in June

Intel Co. (NASDAQ:INTC) was the target of a significant growth in short interest in the month of June. As of June 15th, there was short interest totalling 99,950,000 shares, a growth of 7.1% from the May 31st total of 93,320,000 shares. Based on an average trading volume of 48,620,000 shares, the days-to-cover ratio is currently 2.1 days.

Wall Street Analysts Forecast Growth

INTC has been the topic of a number of analyst reports. Citigroup lowered their price target on Intel from $47.50 to $40.00 and set a “neutral” rating on the stock in a research report on Monday, April 15th. Cantor Fitzgerald reiterated a “neutral” rating and set a $50.00 target price on shares of Intel in a research report on Wednesday, April 3rd. Wedbush reduced their price target on shares of Intel from $40.00 to $32.50 and set a “neutral” rating on the stock in a research report on Friday, April 26th. Morgan Stanley dropped their price objective on shares of Intel from $48.00 to $36.00 and set an “equal weight” rating for the company in a report on Friday, April 26th. Finally, Mizuho reduced their target price on Intel from $55.00 to $45.00 and set a “buy” rating on the stock in a report on Friday, April 26th. Three analysts have rated the stock with a sell rating, twenty-three have given a hold rating and five have given a buy rating to the stock. According to MarketBeat, Intel currently has a consensus rating of “Hold” and an average price target of $39.58.

Insider Activity at Intel

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

Hedge Funds Weigh In On Intel

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Barrett & Company Inc. raised its position in Intel by 6.1% in the 4th quarter. Barrett & Company Inc. now owns 3,662 shares of the chip maker’s stock worth $184,000 after purchasing an additional 210 shares during the period. Revolve Wealth Partners LLC raised its holdings in shares of Intel by 3.0% during the fourth quarter. Revolve Wealth Partners LLC now owns 7,397 shares of the chip maker’s stock valued at $372,000 after acquiring an additional 216 shares in the last quarter. New Millennium Group LLC lifted its position in shares of Intel by 87.2% in the 4th quarter. New Millennium Group LLC now owns 496 shares of the chip maker’s stock worth $25,000 after purchasing an additional 231 shares during the period. Waldron Private Wealth LLC lifted its holdings in Intel by 0.6% in the fourth 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 period. Finally, Spreng Capital Management Inc. lifted its stake in shares of Intel by 1.3% in the 4th quarter. Spreng Capital Management Inc. now owns 19,644 shares of the chip maker’s stock valued at $987,000 after purchasing an additional 246 shares during the period. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Intel Price Performance

Shares of NASDAQ:INTC opened at $31.23 on Thursday. The company has a market capitalization of $132.95 billion, a P/E ratio of 32.44, a price-to-earnings-growth ratio of 14.76 and a beta of 1.05. The company’s 50-day moving average is $30.95 and its 200 day moving average is $39.25. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.14 and a current ratio of 1.57. Intel has a fifty-two week low of $29.73 and a fifty-two week high of $51.28.

Intel (NASDAQ:INTC) last announced its quarterly earnings data on Thursday, April 25th. The chip maker reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.03). Intel had a net margin of 7.36% and a return on equity of 2.19%. The firm had revenue of $12.72 billion for the quarter, compared to the consensus estimate of $12.76 billion. On average, equities research analysts forecast that Intel will post 0.09 earnings per share for the current year.

Intel Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Stockholders of record on Tuesday, May 7th were issued a $0.125 dividend. The ex-dividend date was Monday, May 6th. This represents a $0.50 annualized dividend and a dividend yield of 1.60%. Intel’s payout ratio is currently 52.08%.

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.