Checking in on Intel Corporation (INTC) after recent insiders movement


Intel Corporation’s filing revealed that its CEO GELSINGER PATRICK P acquired Company’s shares for reported $0.25 million on Oct 31. In the deal valued at $28.16 per share,8,830 shares were bought. As a result of this transaction, GELSINGER PATRICK P now holds 96,049 shares worth roughly $ 2.71 million.

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Then, GELSINGER PATRICK P bought 14,800 shares, generating $501,153 in total proceeds. Upon buying the shares at $33.86, the CEO now owns 77,216 shares.

Before that, Zinsner David bought 5,500 shares. Intel Corporation shares valued at $246,014 were divested by the EVP, CFO at a price of $44.73 per share. As a result of the transaction, Zinsner David now holds 8,803 shares, worth roughly $0.25 million.

Summit Insights upgraded its Intel Corporation [INTC] rating to a Buy from a a Hold in a research note published on Friday. A number of analysts have revised their coverage, including Barclays’s analysts, who increased its forecast for the stock in late October from “an Underweight” to “an Equal weight”. Truist also remained covering INTC and reiterated its “Hold” recommendation on October 28, 2022. Stifel maintained its rating on October 28, 2022. It rated INTC as “a Hold”.

Price Performance Review of INTC

On Friday, Intel Corporation [NASDAQ:INTC] saw its stock jump 2.96% to $28.20. On the same session, the stock had its day’s lowest price of $27.41, but rose to a high of $28.235. Over the last five days, the stock has lost -2.99%. Intel Corporation shares have fallen nearly -45.24% since the year began. Nevertheless, the stocks have fallen -43.95% over the past one year. While a 52-week high of $56.28 was reached on 01/12/22, a 52-week low of $24.59 was recorded on 10/13/22. SMA at 50 days reached $28.23, while 200 days put it at $39.52. A total of 42.98 million shares were traded, compared to the trading of 39.68 million shares in the previous session.

Levels Of Support And Resistance For INTC Stock

The 24-hour chart illustrates a support level at 27.66, which if violated will result in even more drops to 27.12. On the upside, there is a resistance level at 28.49. A further resistance level may holdings at 28.77. The Relative Strength Index (RSI) on the 14-day chart is 53.90, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.40, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 27.69%. Stochastics %K at 57.90% indicates the stock is a holding.

How much short interest is there in Intel Corporation?

A steep rise in short interest was recorded in Intel Corporation stocks on Jul 14, 2022, dropping by -9.03 million shares to a total of 70.01 million shares. Yahoo Finance data shows the prior-month short interest on Jun 14, 2022 was 79.04 million shares. There was a decline of -12.9%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 1.71% of the overall stock float, the days-to-cover ratio (short ratio) fell to 2.02.

Intel Corporation [INTC] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 340,814,755 shares, or roughly 8.30% of the outstanding INTC shares. In other words, the investor’s shares have risen by 7,622,665 from its previous 13-F filing of 333192090.0. Additionally, BlackRock Fund Advisors increased 1.23% of its stake after which the total value it holdings stand at $5,873,824,648, while SSgA Funds Management, Inc. reduced -1.59% of its stake to hold $4.54 billion in the firm. Over the last quarter, Capital Research & Management Co sold -8,095,908 shares of Intel Corporation, while Geode Capital Management LLC sold 2,589,540 shares. At present, PRIMECAP Management Co. is holding 48,598,246 shares valued at $1.25 billion. Northern Trust Investments, Inc. owned 47,989,501 shares of the company at the time of its most recent 13F filing, worth $1.24 billion.

According to FactSet, Intel Corporation’s share price will average $30.51 in the next year, based on opinions of analysts polled by the firm. This is up nearly 5.88 percent from its previous closing price of $27.39. Analysts expect Intel Corporation stock to reach the higher price of $56.28, while the lowest price estimate is $18.00. However, 36 analysts have rated INTC stock as a Hold in their predictions for 2022. The most recent change occurred on October 28, 2022 when ROTH Capital resumed its ‘”a Neutral”‘ rating for the stock and retained the price target to $30.


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