Short Interest in Intel Co. (NASDAQ:INTC) Drops By 15.1%

by · The Cerbat Gem

Intel Co. (NASDAQ:INTC – Get Free Report) was the recipient of a large drop in short interest in March. As of March 31st, there was short interest totalling 113,620,000 shares, a drop of 15.1% from the March 15th total of 133,760,000 shares. Based on an average daily volume of 107,060,000 shares, the days-to-cover ratio is presently 1.1 days. Approximately 2.6% of the shares of the stock are sold short.

Hedge Funds Weigh In On Intel

Institutional investors and hedge funds have recently bought and sold shares of the stock. Finley Financial LLC purchased a new stake in shares of Intel during the fourth quarter worth about $25,000. Vermillion Wealth Management Inc. bought a new stake in shares of Intel during the fourth quarter valued at approximately $27,000. Synergy Investment Management LLC purchased a new stake in shares of Intel in the 4th quarter worth about $27,000. BankPlus Trust Department bought a new position in shares of Intel during the fourth quarter valued at approximately $28,000. Finally, Keystone Financial Group Inc. purchased a new position in Intel during the fourth quarter valued at $29,000. 64.53% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. HSBC raised shares of Intel from a “reduce” rating to a “hold” rating in a report on Tuesday, January 21st. Roth Mkm cut their target price on shares of Intel from $25.00 to $20.00 and set a “neutral” rating on the stock in a research report on Friday, January 31st. Rosenblatt Securities reiterated a “sell” rating and set a $20.00 price target on shares of Intel in a report on Thursday, January 30th. Needham & Company LLC reiterated a “hold” rating on shares of Intel in a research note on Monday, April 14th. Finally, Hsbc Global Res upgraded Intel from a “moderate sell” rating to a “hold” rating in a research report on Tuesday, January 21st. Four research analysts have rated the stock with a sell rating, twenty-eight have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $25.38.

View Our Latest Analysis on Intel

Intel Price Performance

Intel stock opened at $18.93 on Monday. Intel has a 52 week low of $17.67 and a 52 week high of $37.16. The company has a quick ratio of 0.98, a current ratio of 1.33 and a debt-to-equity ratio of 0.44. The stock has a market cap of $82.55 billion, a price-to-earnings ratio of -4.32 and a beta of 1.13. The business has a 50-day simple moving average of $22.34 and a 200 day simple moving average of $21.95.

Intel (NASDAQ:INTC – Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The chip maker reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.14). Intel had a negative net margin of 35.32% and a negative return on equity of 3.27%. On average, research analysts forecast that Intel will post -0.11 earnings per share for the current fiscal year.

About Intel

(Get Free Report)

Intel Corporation designs, develops, manufactures, markets, and sells computing and related products and services worldwide. It operates through Client Computing Group, Data Center and AI, Network and Edge, Mobileye, and Intel Foundry Services segments. The company's products portfolio comprises central processing units and chipsets, system-on-chips (SoCs), and multichip packages; mobile and desktop processors; hardware products comprising graphics processing units (GPUs), domain-specific accelerators, and field programmable gate arrays (FPGAs); and memory and storage, connectivity and networking, and other semiconductor products.

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