Intel Co. (NASDAQ:INTC) Sees Large Increase in Short Interest

Intel Co. (NASDAQ:INTC) saw a significant increase in short interest in the month of December. As of December 31st, there was short interest totalling 116,390,000 shares, an increase of 10.7% from the December 15th total of 105,180,000 shares. Based on an average daily trading volume, of 68,450,000 shares, the days-to-cover ratio is currently 1.7 days.

Insiders Place Their Bets

In other news, EVP Michelle Johnston Holthaus sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $26.00, for a total transaction of $650,000.00. Following the completion of the transaction, the executive vice president now directly owns 273,258 shares in the company, valued at approximately $7,104,708. The trade was a 8.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.04% of the stock is owned by insiders.

Institutional Trading of Intel

Hedge funds have recently added to or reduced their stakes in the stock. William B. Walkup & Associates Inc. purchased a new stake in shares of Intel in the second quarter valued at approximately $2,178,000. Geode Capital Management LLC boosted its position in shares of Intel by 4.6% during the 3rd quarter. Geode Capital Management LLC now owns 92,510,098 shares of the chip maker’s stock worth $2,162,891,000 after purchasing an additional 4,103,553 shares in the last quarter. Relyea Zuckerberg Hanson LLC grew its stake in shares of Intel by 211.6% during the 4th quarter. Relyea Zuckerberg Hanson LLC now owns 28,898 shares of the chip maker’s stock worth $579,000 after purchasing an additional 19,625 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Intel by 4.4% in the 3rd quarter. Principal Financial Group Inc. now owns 4,827,123 shares of the chip maker’s stock valued at $113,244,000 after purchasing an additional 204,200 shares in the last quarter. Finally, Empirical Asset Management LLC acquired a new stake in shares of Intel in the fourth quarter valued at about $276,000. 64.53% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Hsbc Global Res upgraded shares of Intel from a “moderate sell” rating to a “hold” rating in a report on Tuesday. HSBC raised shares of Intel from a “reduce” rating to a “hold” rating in a research note on Tuesday. Truist Financial lifted their price target on Intel from $25.00 to $26.00 and gave the company a “hold” rating in a report on Friday, November 1st. Deutsche Bank Aktiengesellschaft decreased their price objective on Intel from $27.00 to $25.00 and set a “hold” rating on the stock in a research report on Thursday, October 3rd. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Intel in a research report on Friday, November 1st. Five research analysts have rated the stock with a sell rating, twenty-seven have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $28.81.

Intel Trading Down 1.7 %

Intel stock traded down $0.38 during trading on Thursday, reaching $21.48. 28,525,225 shares of the company were exchanged, compared to its average volume of 64,916,855. The stock’s 50 day simple moving average is $21.37 and its two-hundred day simple moving average is $23.12. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.31 and a quick ratio of 0.97. The company has a market capitalization of $92.64 billion, a P/E ratio of -5.77, a PEG ratio of 9.59 and a beta of 1.07. Intel has a 52-week low of $18.51 and a 52-week high of $50.30.

Intel (NASDAQ:INTC) last posted its quarterly earnings data on Thursday, October 31st. The chip maker reported ($0.46) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.44). The firm had revenue of $13.30 billion during the quarter, compared to analysts’ expectations of $13.02 billion. Intel had a negative net margin of 29.42% and a negative return on equity of 1.71%. Intel’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.28 EPS. On average, equities research analysts expect that Intel will post -0.87 earnings per share for the current fiscal year.

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.