Intel Corporation: Major Insider Selling This Week

Intel Corporation: Major Insider Selling This Week
By The original uploader was VD64992 at English Wikipedia [Public domain], via Wikimedia Commons

Intel Corporation (NASDAQ:INTC) chairman Andy D. Bryant sold 172,020 shares of the company’s stock in a transaction completed on Tuesday, October 28th at an average price of $33.40 for a total value of $5,745,468.00, according to recent filing with SEC.

Other recent Insider selling’s

Intel President Renee Jo James has also offloaded 2,059 shares of the stock in a transaction dated October 27th. The shares were sold at an average price of $33.02, for a total value of $67,988. After the transaction,  James now directly owns 74,579 shares of the company’s stock valued at approximately $2,462, 599.

WSJ Techlive: Greylock’s Sarah Guo On Tech Investments

TechnologyThe technology industry has long been on the receiving end of billions of dollars in capital, but what's next for the industry? Greylock General Partner Sarah Guo joined Wall Street Journal reporter Zoe Thomas to talk about the future of tech investment. Q3 2021 hedge fund letters, conferences and more Seed Funding Thomas asked Guo Read More

In a separate transaction, VP William M. Holt offloaded 3,749 shares of the stock in the open market transaction that occurred on October 27th at an average price of $33.03 totaling $123,829.47. After the completion of sales, the vice president now owns 10,836 shares of the company’s stock, valued at approximately $357,913.

Short interest in the stock has increased during the month of October. As of October 15th, there was a short interest totaling to 137,168,101 shares, an increase of 10.5% from the September 30th total of 124,186,118 shares. Presently, around 2.8% of the company’s stock is sold short.

Analysts rate Intel a Hold

The chipmaker announced its latest quarterly results on October 14th. Earnings per share for the company came in at $0.66, above the consensus analyst estimate of $0.64. Revenue for the company came in at $14.06 billion in the quarter, compared to the consensus estimate of $14.45 billion. However, when compared to the corresponding quarter last year, revenue increased by 7.9%.

Intel Corporation (NASDAQ:INTC) is covered by a number of analysts. The analysts at Pacific Crest maintained an Outperform rating on the stock in a research note published on October 15th. They also raised their price target to $39.00 from $37.00. In a research note on October 15, Barclays analysts maintained an Equal Weight rating on the stock with a price target of $32.00, an increase from $30.00. Finally, analysts at FBR Capital Markets increased their price target on Intel from $35.00 to $36.00 and assigned it an Outperform rating, in a research note published October 15th. Overall, Intel has a consensus rating of Hold and an average price target of $34.46

On Tuesday, Intel shares were up 1.63% at $33.74, and year to date shares are up over 30%.

Updated on

No posts to display