Insider Buying: GELSINGER PATRICK P, Intel Corp. [INTC] CEO invested 2,800 shares

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Intel Corp. shares valued at $119,671 were purchased by GELSINGER PATRICK P on Feb 01. At $42.74 per share, GELSINGER PATRICK P acquired 2,800 shares. The insider’s holdings grew to 31,275 shares worth approximately $1.38 million following the completion of this transaction.

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Also, GELSINGER PATRICK P purchased 3,000 shares, netting a total of over 130,083 in proceeds. Following the buying of shares at $43.36 each, the insider now holds 28,475 shares.

Before that, GELSINGER PATRICK P had added 6,775 shares to its account. In a trade valued at $249,333, the CEO bought Intel Corp. shares for $36.80 each. Upon closing the transaction, the insider’s holdings increased to 6,775 shares, worth approximately $1.12 million.

As published in a research note from Wedbush on January 26, 2024, Intel Corp. [INTC] has been retained to a Neutral and the price target has been revised to $40.

Analyzing INTC Stock Performance

During the last five days, there has been a surge of approximately 3.65%. Over the course of the year, Intel Corp. shares have dropped approximately -12.34%. Shares of the company reached a 52-week high of $50.30 on 01/25/24 and a 52-week low of $41.60 on 02/02/24. A 50-day SMA is recorded $45.75, while a 200-day SMA reached $37.66. Nevertheless, trading volume fell to 41.74 million shares from 36.19 million shares the previous day.

Support And Resistance Levels for Intel Corp. (INTC)

According to the 24-hour chart, there is a support level at 43.62, which, if violated, would cause prices to drop to 43.20. In the upper region, resistance lies at 44.87. The next price resistance is at 45.70. RSI (Relative Strength Index) is 46.82 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.56, which suggests the price will decrease in the coming days. Percent R is at 33.24%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

Is Intel Corp. subject to short interest?

Stocks of Intel Corp. saw a sharp steep in short interest on Jan 31, 2024 dropping by -11.79 million shares to 59.4 million. Data from Yahoo Finance shows that the short interest on Dec 29, 2023 was 71.19 million shares. A decline of -19.85% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 1.24 of the overall float, the days-to-cover ratio (short ratio) decline to 1.24.

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