Intel Co. (NASDAQ:INTC) Short Interest Update

Intel Co. (NASDAQ:INTC) experienced a notable increase in short interest during November. As of November 15th, short interest rose to a total of 117,710,000 shares. This marks an 11.5% increase from the October 31st total of 105,530,000 shares. Given the average trading volume of 78,240,000 shares, the short-interest ratio now stands at 1.5 days.

Intel Stock Performance

In midday trading on Monday, Intel's stock saw an increase of 1.7%, trading up $0.40 and reaching $24.05. The company exchanged a total of 36,616,750 shares, compared to an average volume of 59,965,563 shares. Intel boasts a market capitalization of $103.73 billion and has a price-to-earnings ratio of -6.47, with a beta of 1.03. The company maintains a debt-to-equity ratio of 0.44, a quick ratio of 0.97, and a current ratio of 1.31. Over the past year, Intel's stock has reached a low of $18.51 and a high of $51.28. Its 50-day and 200-day simple moving averages are $23.48 and $25.85, respectively.

On October 31st, Intel released its latest earnings report. The chipmaker reported an earnings per share (EPS) of ($0.46) for the quarter, falling short of the consensus estimate of ($0.02) by $0.44. The company's revenue for the quarter amounted to $13.30 billion, slightly exceeding analysts' expectations of $13.02 billion. However, Intel reported a negative net margin of 29.42% and a negative return on equity of 1.71%. Compared to the same period last year, the firm's revenue declined by 6.3%. In the previous year, it had reported an EPS of $0.28. Analysts currently predict that Intel will post an EPS of -0.87 for the current year.

Price Target Adjustments by Analysts

Recent reports from various brokerages have updated their price targets for Intel shares. On November 1st, Robert W. Baird raised their target from $20.00 to $25.00, assigning a "neutral" rating to the stock. Conversely, Deutsche Bank decreased their price objective from $27.00 to $25.00, also maintaining a "hold" rating. Northland Securities lowered their target from $42.00 to $28.00 while keeping an "outperform" rating. StockNews.com downgraded Intel from a "hold" rating to a "sell" rating. Additionally, Rosenblatt Securities reiterated a "sell" rating with a target price of $17.00. Presently, six analysts have rated the stock as a sell, twenty-five have given it a hold rating, and one analyst has rated it a buy. Based on MarketBeat data, Intel currently holds a consensus rating of "Hold" with an average price target of $30.12.

Insider Transactions at Intel

In related news, Executive Vice President Michelle Johnston Holthaus sold 25,000 shares of Intel stock on November 7th, 2023, at an average price of $26.00, resulting in a total transaction of $650,000. Following this sale, her direct ownership in the company decreased by 8.38%, leaving her with 273,258 shares valued at approximately $7,104,708. This transaction was disclosed in a filing with the SEC.

Institutional Investor Activity

Several institutional investors have recently adjusted their holdings in Intel. Key Financial Inc increased its stake by 4.1% during the second quarter, now owning 8,685 shares valued at $269,000 after purchasing an additional 340 shares. W.G. Shaheen & Associates raised their stake by 1.4%, owning 24,779 shares worth $767,000 after buying 348 additional shares. Cidel Asset Management Inc. also increased its holdings by 0.6%, bringing their total to 64,589 shares valued at $2 million. Alhambra Investment Management LLC raised their stake by 5.9%, increasing their ownership to 7,000 shares valued at $217,000. Finally, Cambridge Advisors Inc. raised its stake by 2.4%, now owning 17,025 shares worth $527,000. Approximately 64.53% of Intel's stock is held by institutional investors and hedge funds.

About Intel Corporation

Intel Corporation is engaged in designing, developing, manufacturing, marketing, and selling computing and related 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, Investment