Nowadays, there are a multitude of metrics for Intel Corporation (NASDAQ:INTC) investors to pay attention to, but it’s absolutely crucial to take note of a company’s short sellers. A couple indicators we can use are: (a) the chunk of a company’s float that short sellers are currently short selling, plus (b) the change in short selling activity.
Augmented shorting usually means what you’d think: investors have grown less bullish on the stock. Overselling, however, may have a bullish effect on stock price, as short-ers may be forced to buy their stock.
Within Insider Monkey, it is no secret that we track hedgies’ interest, but it is also beneficial to pair this information with overall short sale information. In some high-profile cases, big time investors might disclose that they’re bearish on a company, but it isn’t an SEC requirement. Nevertheless, many retail investors might wish to stay away from heavily shorted equities with high hedgie investment, while others might prefer short-squeeze candidates. For traders looking for a proven piggybacking strategy, discover the details of our premium strategy.
Let us take a gander at the recent info surrounding Intel Corporation (NASDAQ:INTC).
Looking at the latest FINRA short interest data, which is released two times each month, we can discover that Intel Corporation (NASDAQ:INTC) has a short interest of 4.50% of float. With a total float of 4.97B shares, this is a short ratio of 6.6.
It’s also important to take note of hedge fund holdings from their quarterly 13F filings. Of the funds we track, Jean-Marie Eveillard’s First Eagle Investment Management had the biggest position in Intel Corporation (NASDAQ:INTC), worth close to $729.7 million, comprising 2.4% of its total 13F portfolio. On First Eagle Investment Management’s heels is Lansdowne Partners, managed by Paul Ruddock and Steve Heinz, which held a $451.4 million call position; the fund has 6.2% of its 13F portfolio invested in the stock. Other hedge funds that are bullish include Ken Fisher’s Fisher Asset Management, Jim Simons’s Renaissance Technologies and Phill Gross and Robert Atchinson’s Adage Capital Management.
Also, insider purchases made by high-level executives is most useful when the company in question has experienced transactions within the past six months. Over the latest half-year time period, Intel Corporation (NASDAQ:INTC) has experienced zero unique insiders buying, and 8 insider sales (see the details of insider trades here).
Let’s go over activity in other stocks similar to Intel Corporation (NASDAQ:INTC). These stocks are STMicroelectronics N.V. (ADR) (NYSE:STM), NXP Semiconductors NV (NASDAQ:NXPI), Avago Technologies Ltd (NASDAQ:AVGO), Maxim Integrated Products Inc. (NASDAQ:MXIM), and Texas Instruments Incorporated (NASDAQ:TXN). This group of stocks are in the semiconductor – broad line industry and their market caps are similar to INTC’s market cap.
|Company Name||# of Hedge Funds||# of Insiders Buying||# of Insiders Selling|
|STMicroelectronics N.V. (ADR) (NYSE:STM)||9||0||0|
|NXP Semiconductors NV (NASDAQ:NXPI)||41||0||0|
|Avago Technologies Ltd (NASDAQ:AVGO)||28||0||8|
|Maxim Integrated Products Inc. (NASDAQ:MXIM)||14||0||13|
|Texas Instruments Incorporated (NASDAQ:TXN)||23||0||15|
These figures–short data, hedge fund info and insider trading history–are something every reader should account for. Although it’s difficult to formulate a usable strategy from short interest filings, hedgie and insider sentiment give plenty of market beating opportunities if you know where to look.