Short Interest in Intel Co. (NASDAQ:INTC) Grows By 10.7%

Intel Co. (NASDAQ:INTC - Get Free Report) experienced a notable rise in short interest for December. By December 31st, the total short interest reached 116,390,000 shares, reflecting a 10.7% increase from the previous total of 105,180,000 shares reported on December 15th. Given the average daily trading volume of 68,450,000 shares, the current days-to-cover ratio stands at 1.7 days.

Intel Price Performance

On a recent trading day, Intel's stock price increased by $1.82, reaching $21.49. The trading volume for the day totaled 163,396,661 shares, significantly higher than its average volume of 50,908,592. The company's 50-day moving average price is $21.55, while its 200-day moving average is $23.32. Over the past year, Intel's stock has seen a low of $18.51 and a high of $50.30. Regarding financial ratios, Intel has a debt-to-equity ratio of 0.44, a quick ratio of 0.97, and a current ratio of 1.31.

Intel released its latest quarterly earnings data on October 31st, reporting an earnings per share (EPS) of -$0.46. This result missed the consensus estimate of -$0.02 by -$0.44. The company also had a negative net margin of 29.42% and a return on equity of -1.71%. Its revenue for the quarter was $13.30 billion, slightly exceeding the consensus estimate of $13.02 billion but showing a 6.3% decrease compared to the previous year. Analysts predict that Intel will report an EPS of -$0.87 for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently reassessed Intel's stock. On December 3rd, Bank of America reaffirmed its "underperform" rating and set a price target of $21.00. Similarly, Rosenblatt Securities maintained a "sell" rating with a price target of $17.00 as of October 29th. Goldman Sachs reduced its price target for Intel from $22.00 to $21.00, categorizing it as a "sell" on October 17th. Stifel Nicolaus also revised its hold rating and decreased its price target from $28.00 to $25.00 on October 25th. Additionally, Barclays lowered its target from $25.00 to $23.00, giving it an "equal weight" rating. Overall, six analysts recommend selling the stock, twenty-five suggest holding, and only one analyst recommends buying it. MarketBeat data shows that Intel has a consensus rating of "Hold" and an average price target of $29.88.

Insider Transactions at Intel

In an insider transaction, EVP Michelle Johnston Holthaus sold 25,000 shares of Intel on November 7th, at an average share price of $26.00, resulting in a sale of $650,000. Post-transaction, Holthaus owns 273,258 shares valued at approximately $7,104,708. This sale represents an 8.38% reduction in her holdings. The transaction was disclosed in SEC filings. Company insiders currently own 0.04% of Intel's stock.

Institutional Trading of Intel

Recent activity from institutional investors shows several transactions involving Intel shares. State Street Corp increased its holdings by 2.8% in the third quarter, now owning 197,958,739 shares valued at $4,644,112,000 after acquiring an additional 5,417,753 shares. Geode Capital Management LLC also raised its stake by 4.6% during the same period, now having 92,510,098 shares worth $2,162,891,000 after purchasing an extra 4,103,553 shares. UBS Asset Management increased its position by 28.2%, now owning 58,469,412 shares worth $1,371,692,000 following a purchase of 12,865,308 shares. Van ECK Associates Corp raised its holdings by 27.2% to 44,013,936 shares, valued at $967,426,000 after buying an additional 9,422,136 shares. Legal & General Group Plc added 1.3% to its stake in the second quarter, amounting to 37,513,226 shares valued at $1,161,779,000. Collectively, institutional investors hold 64.53% of Intel's stock.

About Intel

Intel Corporation is involved in the design, development, manufacturing, marketing, and sales of computing products and services globally. The company operates through various segments, including Client Computing Group, Data Center and AI, Network and Edge, Mobileye, and Intel Foundry Services. Its product portfolio consists of central processing units (CPUs), chipsets, system-on-chips (SoCs), mobile and desktop processors, graphics processing units (GPUs), memory and storage solutions, and other semiconductor products.

Intel, Stocks, Earnings