Short Interest in Intel Co. (NASDAQ:INTC) Grows By 10.7%

Intel Co. (NASDAQ:INTC - Get Free Report) experienced a notable increase in short interest during December. By the end of December, short interest reached 116,390,000 shares, marking a rise of 10.7% from 105,180,000 shares as of December 15th. With an average daily trading volume of 68,450,000 shares, the days-to-cover ratio for Intel currently stands at 1.7 days.

Intel Stock Performance

On Friday, during midday trading, Intel's shares climbed $1.82 to reach $21.49. The trading volume was significantly high at 163,396,661 shares, far exceeding the average volume of 50,908,592. The stock has a 50-day moving average of $21.55 and a 200-day moving average of $23.32. Over the past year, Intel has seen a low of $18.51 and a peak of $50.30. Its financial ratios include a debt-to-equity ratio of 0.44, a quick ratio of 0.97, and a current ratio of 1.31.

On October 31st, Intel released its latest quarterly earnings report, disclosing earnings per share of ($0.46), which was a substantial miss compared to the expected ($0.02) earnings. During the quarter, Intel recorded a negative net margin of 29.42% and a negative return on equity of 1.71%. The revenue reported was $13.30 billion, just above the consensus expectation of $13.02 billion, although this marked a 6.3% decrease from the same quarter a year prior. Analysts are forecasting an EPS of -0.87 for the current fiscal year.

Changes in Analyst Ratings

Recent analyses from various equity research firms have provided updates on Intel's stock ratings. Bank of America reiterated an “underperform” rating with a price target of $21.00 on December 3rd. Similarly, Rosenblatt Securities maintained a “sell” rating with a lowered price target of $17.00 on October 29th. Goldman Sachs also cut its price target from $22.00 to $21.00 while assigning a “sell” rating on October 17th. Stifel Nicolaus adjusted their rating to “hold” and set a price target of $25.00, reduced from $28.00. Barclays, meanwhile, decreased its target from $25.00 to $23.00 and assigned an “equal weight” rating. Overall, six analysts have rated Intel as a “sell,” twenty-five as a “hold,” and just one as a “buy,” resulting in a consensus rating of “Hold” and an average target price of $29.88, according to MarketBeat.com.

Insider Transactions

In recent insider trading news, executive vice president Michelle Johnston Holthaus sold 25,000 shares of Intel in a transaction on November 7th, netting about $650,000 at an average price of $26.00 per share. Post-sale, she retains ownership of 273,258 shares valued at approximately $7,104,708, reflecting an 8.38% decrease in her position. Such transactions are regularly disclosed to the SEC and help investors gauge insider confidence in the company.

Institutional Ownership

Several institutional investors have adjusted their stakes in Intel recently. State Street Corp increased its holdings by 2.8% in the third quarter, owning nearly 198 million shares valued at around $4.64 billion. Geode Capital Management expanded its stake by 4.6%, now holding about 92 million shares worth approximately $2.16 billion. UBS Asset Management enhanced its position by 28.2%, amassing around 58.5 million shares valued at nearly $1.37 billion. Van ECK Associates Corp also increased its investment by 27.2%, owning over 44 million shares worth about $967 million. Additionally, Legal & General Group raised its stake by 1.3%, currently holding around 37.5 million shares valued at about $1.16 billion. The collective institutional ownership for Intel is approximately 64.53%.

About Intel

Intel Corporation is a renowned company that designs, manufactures, and sells a wide array of computing products globally. It operates through several segments, including Client Computing Group, Data Center and AI, Network and Edge, Mobileye, and Intel Foundry Services. Its product offerings encompass processors, chipsets, graphics processing units, and various other semiconductor products.

Intel, Stocks, Investment