Intel shares were sold on strength on Wednesday following the revelation of insider selling. On Wednesday, around 64.09 million flowed into the stock on the tick-up, and around $119.20 million flowed out of the stock on the tick-down. With a net outflow of $55.11 million, the tech titan’s stock was the 7th highest in terms of the net outflow for the day.

Intel Corporation Sold On Strength Following Insider Selling

Insider selling

In a transaction dated April 17th, VP Gregory R. Pearson sold 2,352 shares of the stock at an average price of $32.39, for a total value of $76,181.28, according to a filing with the SEC. After the transaction, Pearson now holds 71,317 shares in the company worth $2,309,957.63.

In recent weeks, many analysts have come out with their verdict on Intel. In a research note on Tuesday, analysts at B. Riley reiterated a Buy rating on the chip maker with a price target of $40.00. Analysts at Tigress Financial, in a research note on April 17th, upgraded the stock from Neutral to Buy. Separately, analysts at Sanford C. Bernstein raised the rating on Intel from Underperform to Market perform, and also increased their price target from $28.00 to $32.00, in a note issued on April 16th. Finally, in a research note on April 15th, analysts at Barclays reiterated an Equal Weight rating on the stock, and gave a price target of $32. Presently, Intel has a consensus rating of Hold and an average price target of $36.55.

Intel compute stick

Separately, Intel has launched a Windows 8.1 Computer Stick, which costs around $149. The stick, which runs on Ubuntu Linux, will be available this summer for  $110. To get your hands on the device, the chip maker has asked potential buyers to keep an eye on the Amazon, Best Buy and Newegg websites. According to Intel, the storage capabilities will depend on the operating system. The stick based on Windows will come with 32GB of eMMC storage and 2GB memory, while the Linux version will have 8GB storage and 1GB memory.

Intel has a 52-week low of $25.74 and a 52-week high of $37.90, while its 50-day moving average is $31 and 200-day moving average is $34. On Wednesday, Intel shares closed up 0.83% at $32.70, and year to date, the stock is down over 11%.