Wolfe Research’s latest rating for INTC stock


In a filing, Intel Corporation revealed its EVP & GM, CCG Holthaus Michelle Johnston unloaded Company’s shares for reported $32.0 on Aug 21. In the deal valued at $32.41 per share,1 shares were sold. As a result of this transaction, Holthaus Michelle Johnston now holds 193,955 shares worth roughly $ 7.1 million.

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Then, GELSINGER PATRICK P bought 3,850 shares, generating $133,343 in total proceeds. Upon buying the shares at $34.63, the CEO now owns 105,495 shares.

Before that, GELSINGER PATRICK P bought 3,250 shares. Intel Corporation shares valued at $116,586 were divested by the CEO at a price of $35.87 per share. As a result of the transaction, GELSINGER PATRICK P now holds 139,715 shares, worth roughly $5.11 million.

Wolfe Research reiterated its Intel Corporation [INTC] rating to an Underperform in a research note published on Friday, July 28, 2023; the price target was $31. PT values the company’s stock at a premium of -18.1 to its Friday closing price.

Price Performance Review of INTC

On Friday, Intel Corporation [NASDAQ:INTC] saw its stock jump 4.18% to $36.61. On the same session, the stock had its day’s lowest price of $35.73, but rose to a high of $36.75. Over the last five days, the stock has gained 10.11%. Intel Corporation shares have risen nearly 38.52% since the year began. Nevertheless, the stocks have risen 14.69% over the past one year. While a 52-week high of $37.19 was reached on 07/31/23, a 52-week low of $24.59 was recorded on 02/28/23. SMA at 50 days reached $34.02, while 200 days put it at $30.54. A total of 43.73 million shares were traded, compared to the trading of 48.16 million shares in the previous session.

Levels Of Support And Resistance For INTC Stock

The 24-hour chart illustrates a support level at 35.98, which if violated will result in even more drops to 35.34. On the upside, there is a resistance level at 37.00. A further resistance level may holdings at 37.38. The Relative Strength Index (RSI) on the 14-day chart is 63.51, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.59, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 2.96%. Stochastics %K at 83.20% indicates the stock is a selling.

How much short interest is there in Intel Corporation?

A steep rise in short interest was recorded in Intel Corporation stocks on Aug 14, 2023, dropping by -4.71 million shares to a total of 59.03 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 63.74 million shares. There was a decline of -7.98%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 1.41% of the overall stock float, the days-to-cover ratio (short ratio) fell to 1.57.

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

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 361,762,400 shares, or roughly 8.67% of the outstanding INTC shares. In other words, the investor’s shares have risen by 6,548,246 from its previous 13-F filing of 355214154.0. Additionally, BlackRock Fund Advisors increased 3.08% of its stake after which the total value it holdings stand at $7,682,597,292, while SSgA Funds Management, Inc. added 1.25% of its stake to hold $6.49 billion in the firm. Over the last quarter, Geode Capital Management LLC purchased 2,166,976 shares of Intel Corporation, while Capital Research & Management Co bought 20,836,219 shares. At present, Capital Research & Management Co is holding 71,950,264 shares valued at $2.57 billion. PRIMECAP Management Co. owned 70,535,501 shares of the company at the time of its most recent 13F filing, worth $2.52 billion.

According to FactSet, Intel Corporation’s share price will average $36.91 in the next year, based on opinions of analysts polled by the firm. This is up nearly 5.29 percent from its previous closing price of $35.14. Analysts expect Intel Corporation stock to reach the higher price of $65.00, while the lowest price estimate is $17.00. However, 44 analysts have rated INTC stock as a Hold in their predictions for 2023.


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