Intel Corporation (INTC) Witnessing Heavy Insider Selling

Intel Corporation (INTC) Witnessing Heavy Insider Selling
By The original uploader was VD64992 at English Wikipedia [Public domain], via Wikimedia Commons

Intel Corporation (NASDAQ:INTC) Vice President William M. Holt has 3,748 shares of the company’s stock in the open market transaction on Friday July 25th. The average price at which the shares were unloaded is $34.16 for a total value of $128,031.68. After the transaction, the vice president now directly owns 7,903 shares in the company, valued at approximately $269,966, according to a legal filing of the SEC.

Recent insider selling

In another insider selling, Chairman Andy D. Bryant shed 27,000 shares on the open market in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $34.35, for a total transaction of $927,450.00. After the sell-off, the chairman now directly owns 442,138 shares in the company, valued at approximately $15,187,440.

Following insider transactions took place from July 16 through 21.

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Chief financial officer Stacy Smith unloaded 614,432 Intel shares for $20,839,382. According to a regulatory filing, Smith sold the shares at prices ranging from $12.98 to $26.79.The Chief financial officer holds 186,320 shares and his last transaction was on January 30, where he unloaded 51,200 shares for $1.3 million.

Executive Vice president and general manager of sales Thomas Kilroy sold his holdings of 349,595 shares for $11,907,065. Post transaction, Kilroy holds 80,972 shares through a trust for himself and his wife. Kilroy’s last transaction was on June 23, where the executive sold 86,400 shares for $2.6 million, an average of $29.75 each through a 10b5-1 plan.

President Renee Jo James unloaded 101,580 shares for $3,381,598, and executive vice president and general manager of the technology and manufacturing group William M. Holt sold 73,998 shares for $2,365,308. Director David B. Yoffie sold 20,000 of his indirect holdings for $683,886.

Analysts take on Intel

Intel has been subjected to recent ratings from analysts. Bernstein analysts increased the price target on shares from $28.00 to $31.00, in a research note on July 16th. Wedbush Security analysts have raised the price target on Intel from $30.00 to $34.00, in a research note on July 16th. Barclays maintained Equal Weight rating on the shares and assigned a price target of $30.00. Intel currently has a consensus rating of Hold and an average target price of $33.14.

At 10 am EDT, Intel shares were up 0.07% to $34.27. Year to date, shares are up over 33%.

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