Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Intel Corp. shares valued at $119,671 were purchased by GELSINGER PATRICK P on Feb 01 ’24. At $42.74 per share, GELSINGER PATRICK P acquired 2,800 shares. The insider’s holdings grew to 31,275 shares worth approximately $1.16 million following the completion of this transaction.
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 $0.95 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. Analysts at Truist resumed the stock at ‘”a Hold”‘ outlook in a report released in late January. As of January 26, 2024, The Benchmark Company has reiterated its “Buy” rating for INTC. Earlier on January 26, 2024, TD Cowen resumed its rating. Their recommendation was “a Market perform” for INTC stock.
Analyzing INTC Stock Performance
During the last five days, there has been a drop of approximately -7.76%. Over the course of the year, Intel Corp. shares have dropped approximately -25.97%. Shares of the company reached a 52-week high of $50.30 on 01/25/24 and a 52-week low of $37.02 on 04/10/24. A 50-day SMA is recorded $42.80, while a 200-day SMA reached $39.80. Nevertheless, trading volume fell to 50.83 million shares from 78.78 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 36.74, which, if violated, would cause prices to drop to 36.28. In the upper region, resistance lies at 37.94. The next price resistance is at 38.68. RSI (Relative Strength Index) is 29.89 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -3.41, which suggests the price will decrease in the coming days. Percent R is at 97.85%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Intel Corp. subject to short interest?
Stocks of Intel Corp. saw a sharp rise in short interest on Mar 28, 2024 jumping by 3.6 million shares to 72.4 million. Data from Yahoo Finance shows that the short interest on Feb 29, 2024 was 68.8 million shares. A jump of 4.97% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 1.55 of the overall float, the days-to-cover ratio (short ratio) jumped to 1.55.
