The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. 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 $1.12 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 $0.91 million.
As published in their initiating research note from Evercore ISI on April 16, 2024, Intel Corp. [INTC] has been an In-line and the price target has been revised to $40. Analysts at Citigroup resumed the stock at ‘”a Neutral”‘ outlook in a report released in mid April. As of January 26, 2024, Wedbush has reiterated its “Neutral” rating for INTC. Earlier on January 26, 2024, Truist resumed its rating. Their recommendation was “a Hold” for INTC stock.
Analyzing INTC Stock Performance
During the last five days, there has been a drop of approximately -4.09%. Over the course of the year, Intel Corp. shares have dropped approximately -29.00%. Shares of the company reached a 52-week high of $50.30 on 01/25/24 and a 52-week low of $35.37 on 04/17/24. A 50-day SMA is recorded $42.14, while a 200-day SMA reached $39.87. Nevertheless, trading volume fell to 41.08 million shares from 30.61 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 35.32, which, if violated, would cause prices to drop to 34.97. In the upper region, resistance lies at 36.08. The next price resistance is at 36.49. RSI (Relative Strength Index) is 29.43 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.95, which suggests the price will decrease in the coming days. Percent R is at 96.91%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
