Is Buying Stock Like Intel Corporation (INTC) After This Bullish Wedge Up a Winning Strategy?



May 24, 2018 – By Darrin Black

Intel Corporation (NASDAQ:INTC) Logo

Investors sentiment decreased to 1.02 in 2017 Q4. Its down 0.01, from 1.03 in 2017Q3. It turned negative, as 60 investors sold Intel Corporation shares while 703 reduced holdings. 177 funds opened positions while 601 raised stakes. 3.06 billion shares or 0.43% more from 3.05 billion shares in 2017Q3 were reported.
State Of New Jersey Common Pension Fund D reported 0.55% stake. Bb&T Corp reported 786,734 shares. New York-based Howard Mngmt has invested 2.32% in Intel Corporation (NASDAQ:INTC). 135,845 are owned by Sequoia Fincl Advsrs Ltd Liability Corporation. Swiss Bancshares owns 0.86% invested in Intel Corporation (NASDAQ:INTC) for 17.34M shares. Caz Invs L P accumulated 20,160 shares. Buckingham Asset Mgmt Ltd Liability Corp reported 0.7% of its portfolio in Intel Corporation (NASDAQ:INTC). 33,097 were accumulated by Proffitt & Goodson Inc. Pettee Invsts has 82,787 shares. Ami Asset Management holds 8,000 shares. National Bank owns 16,046 shares or 0.21% of their US portfolio. Timber Creek Ltd Company owns 4,322 shares. Liberty Capital Management Inc stated it has 24,903 shares. Employees Retirement Association Of Colorado stated it has 0.26% in Intel Corporation (NASDAQ:INTC). Salem Capital Management holds 4.04% of its portfolio in Intel Corporation (NASDAQ:INTC) for 172,005 shares.

Since January 22, 2018, it had 0 insider buys, and 21 selling transactions for $11.14 million activity. $3.62M worth of Intel Corporation (NASDAQ:INTC) was sold by Krzanich Brian M on Friday, February 23. The insider YOFFIE DAVID B sold 25,000 shares worth $1.33M. On Tuesday, May 8 the insider BRYANT ANDY D sold $1.89M. RENDUCHINTALA VENKATA S M also sold $880,540 worth of Intel Corporation (NASDAQ:INTC) shares. McBride Kevin Thomas also sold $31,943 worth of Intel Corporation (NASDAQ:INTC) shares. $1.07 million worth of Intel Corporation (NASDAQ:INTC) was sold by HUNDT REED E on Tuesday, May 8.

The stock of Intel Corporation (INTC) formed an up wedge with $58.08 target or 6.00 % above today’s $54.80 share price. The 7 months wedge indicates low risk for the $255.34B company. If the $58.08 price target is reached, the company will be worth $15.32 billion more.
Rising wedges, especially for downward breakouts are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 8% and 24%. The average rise is 28% and the decline is 14%. Wedges has high throwback and pullback rate: 73%, 63% and the percent of wedges meeting target is not more than 50%.

The stock decreased 0.75% or $0.415 during the last trading session, reaching $54.795. About 12.21M shares traded. Intel Corporation (NASDAQ:INTC) has risen 44.65% since May 24, 2017 and is uptrending. It has outperformed by 33.10% the S&P500.

Analysts await Intel Corporation (NASDAQ:INTC) to report earnings on July, 26. They expect $0.86 earnings per share, up 19.44 % or $0.14 from last year’s $0.72 per share. INTC’s profit will be $4.01 billion for 15.93 P/E if the $0.86 EPS becomes a reality. After $0.87 actual earnings per share reported by Intel Corporation for the previous quarter, Wall Street now forecasts -1.15 % negative EPS growth.

Intel Corporation (NASDAQ:INTC) Ratings Coverage

Among 32 analysts covering Intel Corp (NASDAQ:INTC), 21 have Buy rating, 2 Sell and 9 Hold. Therefore 66% are positive. Intel Corp had 65 analyst reports since December 26, 2017 according to SRatingsIntel. The firm has “Buy” rating by Mizuho given on Tuesday, December 26. Roth Capital maintained Intel Corporation (NASDAQ:INTC) rating on Friday, January 26. Roth Capital has “Buy” rating and $57.0 target. FBR Capital maintained the stock with “Buy” rating in Friday, April 20 report. The firm has “Sell” rating given on Wednesday, January 3 by Rosenblatt. The stock of Intel Corporation (NASDAQ:INTC) has “Buy” rating given on Tuesday, April 3 by Evercore. Mizuho maintained the stock with “Buy” rating in Monday, January 8 report. The rating was maintained by B. Riley & Co with “Buy” on Friday, April 27. The stock of Intel Corporation (NASDAQ:INTC) earned “Buy” rating by Credit Suisse on Friday, January 26. KeyBanc Capital Markets maintained Intel Corporation (NASDAQ:INTC) on Thursday, January 25 with “Buy” rating. Needham maintained the shares of INTC in report on Friday, April 27 with “Buy” rating.

More notable recent Intel Corporation (NASDAQ:INTC) news were published by: Bizjournals.com which released: “Intel reassigns marketing chief” on May 14, 2018, also Seekingalpha.com with their article: “Big self-driving car deal for Mobileye” published on May 17, 2018, Investorplace.com published: “3 Internet of Things Stocks That Are Set to Have Monster Futures” on May 23, 2018. More interesting news about Intel Corporation (NASDAQ:INTC) were released by: Seekingalpha.com and their article: “Intel And Mobileye Are Tearing Down Nvidia’s Self-Driving Car Strategy” published on May 22, 2018 as well as Nasdaq.com‘s news article titled: “Why I Don’t Share This Intel Executive’s Optimism” with publication date: May 22, 2018.

Intel Corporation designs, manufactures, and sells computer, networking, and communications platforms worldwide. The company has market cap of $255.34 billion. The firm operates through Client Computing Group, Data Center Group, Internet of Things Group, Non-Volatile Memory Solutions Group, Intel Security Group, Programmable Solutions Group, and All Other divisions. It has a 27.54 P/E ratio. The Company’s platforms are used in notebooks, 2 in 1 systems, desktops, servers, tablets, smartphones, wireless and wired connectivity products, and mobile communication components; enterprise, cloud, and communication infrastructure; and retail, transportation, industrial, video, buildings, and other market divisions.

Intel Corporation (NASDAQ:INTC) Institutional Positions Chart

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