Intel Corporation (INTC) Short Interest Up 9.1% in August

Intel Corporation (NASDAQ:INTC) was the recipient of a significant growth in short interest in August. As of August 31st, there was short interest totalling 110,029,915 shares, a growth of 9.1% from the August 15th total of 100,813,296 shares. Based on an average daily volume of 19,238,584 shares, the short-interest ratio is currently 5.7 days. Approximately 2.3% of the company’s stock are sold short.

In other Intel Corporation news, insider Venkata S. M. Renduchintala sold 13,996 shares of the business’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $35.47, for a total transaction of $496,438.12. Following the completion of the transaction, the insider now owns 1,536 shares of the company’s stock, valued at approximately $54,481.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Venkata S. M. Renduchintala sold 1,424 shares of the business’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $36.40, for a total transaction of $51,833.60. Following the transaction, the insider now directly owns 1,536 shares of the company’s stock, valued at approximately $55,910.40. The disclosure for this sale can be found here. Insiders sold 91,921 shares of company stock valued at $3,130,162 over the last quarter. 0.08% of the stock is currently owned by corporate insiders.

Hedge funds have recently bought and sold shares of the business. Watermark Asset Management Inc. purchased a new position in shares of Intel Corporation during the first quarter worth approximately $113,000. Acrospire Investment Management LLC raised its stake in shares of Intel Corporation by 111.8% during the second quarter. Acrospire Investment Management LLC now owns 3,600 shares of the chip maker’s stock worth $121,000 after acquiring an additional 1,900 shares in the last quarter. Orrstown Financial Services Inc. raised its stake in shares of Intel Corporation by 96.6% during the first quarter. Orrstown Financial Services Inc. now owns 3,725 shares of the chip maker’s stock worth $134,000 after acquiring an additional 1,830 shares in the last quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. raised its stake in shares of Intel Corporation by 53.0% during the first quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 4,040 shares of the chip maker’s stock worth $146,000 after acquiring an additional 1,400 shares in the last quarter. Finally, Vigilant Capital Management LLC raised its stake in shares of Intel Corporation by 22.6% during the first quarter. Vigilant Capital Management LLC now owns 4,373 shares of the chip maker’s stock worth $158,000 after acquiring an additional 805 shares in the last quarter. 67.09% of the stock is currently owned by hedge funds and other institutional investors.

A number of research firms have weighed in on INTC. Jefferies Group LLC set a $38.00 target price on shares of Intel Corporation and gave the stock a “hold” rating in a research report on Saturday, June 3rd. B. Riley reaffirmed a “buy” rating and set a $46.00 price objective on shares of Intel Corporation in a research report on Friday, July 28th. Vetr raised shares of Intel Corporation from a “buy” rating to a “strong-buy” rating and set a $40.45 price objective for the company in a research report on Monday, June 12th. Bank of America Corporation lowered shares of Intel Corporation from a “buy” rating to a “neutral” rating and cut their price objective for the company from $42.00 to $38.00 in a research report on Wednesday, June 21st. Finally, Summit Redstone reaffirmed a “hold” rating on shares of Intel Corporation in a research report on Saturday, July 22nd. Six analysts have rated the stock with a sell rating, fifteen have issued a hold rating, twenty-seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Intel Corporation currently has an average rating of “Hold” and an average target price of $40.60.

Shares of Intel Corporation (NASDAQ INTC) opened at 37.00 on Friday. The company has a market capitalization of $173.86 billion, a price-to-earnings ratio of 14.12 and a beta of 1.02. Intel Corporation has a one year low of $33.23 and a one year high of $38.45. The company’s 50 day moving average is $35.64 and its 200 day moving average is $35.52.

Intel Corporation (NASDAQ:INTC) last announced its earnings results on Thursday, July 27th. The chip maker reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.04. The business had revenue of $14.76 billion for the quarter, compared to the consensus estimate of $14.39 billion. Intel Corporation had a net margin of 20.60% and a return on equity of 21.86%. Intel Corporation’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period last year, the firm posted $0.59 earnings per share. Equities research analysts predict that Intel Corporation will post $3.01 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Tuesday, November 7th will be paid a $0.2725 dividend. This represents a $1.09 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date is Monday, November 6th. Intel Corporation’s dividend payout ratio is currently 41.76%.

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About Intel Corporation

Intel Corporation is engaged in designing and manufacturing products and technologies, such as the cloud. The Company’s segments are Client Computing Group (CCG), Data Center Group (DCG), Internet of Things Group (IOTG), Non-Volatile Memory Solutions Group (NSG), Intel Security Group (ISecG), Programmable Solutions Group (PSG), All Other and New Technology Group (NTG).

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