Intel Corporation: Major Insider Selling This Week

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.

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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%.