Intel (NASDAQ:INTC) Trading Up 1% Following Insider Buying Activity

Intel Co. (NASDAQ:INTC)’s share price shot up 1% during trading on Friday following insider buying activity. The company traded as high as $31.06 and last traded at $30.81. 12,090,980 shares traded hands during mid-day trading, a decline of 75% from the average session volume of 48,289,027 shares. The stock had previously closed at $30.51.

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

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on INTC. Citigroup reduced their price target on Intel from $47.50 to $40.00 and set a “neutral” rating for the company in a report on Monday, April 15th. Mizuho cut their price target on shares of Intel from $55.00 to $45.00 and set a “buy” rating on the stock in a report on Friday, April 26th. Cantor Fitzgerald reiterated a “neutral” rating and set a $50.00 target price on shares of Intel in a research note on Wednesday, April 3rd. Truist Financial dropped their price objective on Intel from $45.00 to $33.00 and set a “hold” rating on the stock in a research report on Friday, April 26th. Finally, Roth Mkm decreased their target price on Intel from $45.00 to $35.00 and set a “neutral” rating for the company in a research report on Friday, April 26th. Four equities research analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $39.75.

Intel Trading Up 1.3 %

The company has a quick ratio of 1.14, a current ratio of 1.57 and a debt-to-equity ratio of 0.43. The stock’s 50 day moving average price is $39.84 and its 200-day moving average price is $42.06. The stock has a market capitalization of $131.54 billion, a PE ratio of 32.19, a PEG ratio of 9.88 and a beta of 1.09.

Intel Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Tuesday, May 7th will be issued a dividend of $0.125 per share. The ex-dividend date is Monday, May 6th. This represents a $0.50 dividend on an annualized basis and a yield of 1.62%. Intel’s dividend payout ratio is presently 52.08%.

Hedge Funds Weigh In On Intel

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of Intel by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 385,787,907 shares of the chip maker’s stock worth $19,385,842,000 after buying an additional 4,678,169 shares in the last quarter. Capital International Investors grew its position in shares of Intel by 0.3% during the fourth quarter. Capital International Investors now owns 96,617,951 shares of the chip maker’s stock valued at $4,855,099,000 after purchasing an additional 318,495 shares in the last quarter. Primecap Management Co. CA increased its holdings in shares of Intel by 0.6% in the fourth quarter. Primecap Management Co. CA now owns 75,237,927 shares of the chip maker’s stock worth $3,780,706,000 after purchasing an additional 475,636 shares during the last quarter. Norges Bank bought a new position in Intel during the fourth quarter valued at approximately $2,424,202,000. Finally, Northern Trust Corp increased its stake in Intel by 3.7% in the 3rd quarter. Northern Trust Corp now owns 46,003,776 shares of the chip maker’s stock worth $1,635,434,000 after acquiring an additional 1,626,127 shares during the last quarter. 64.53% of the stock is currently owned by hedge funds and other 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.