Intel (NASDAQ:INTC) Shares Up 5.6% – Here’s Why

Intel Co. (NASDAQ:INTC)’s stock price shot up 5.6% on Monday . The company traded as high as $21.05 and last traded at $20.84. 39,242,317 shares were traded during trading, a decline of 50% from the average session volume of 77,763,706 shares. The stock had previously closed at $19.74.

Wall Street Analysts Forecast Growth

INTC has been the subject of several research analyst reports. Truist Financial cut their price target on Intel from $22.00 to $21.00 and set a “hold” rating for the company in a report on Friday, January 31st. Bank of America raised shares of Intel from an “underperform” rating to a “neutral” rating and upped their price target for the company from $19.00 to $25.00 in a research note on Thursday, March 13th. Cantor Fitzgerald lifted their price objective on shares of Intel from $22.00 to $29.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 18th. Citigroup dropped their price target on Intel from $22.00 to $21.00 and set a “neutral” rating for the company in a research report on Tuesday, January 21st. Finally, Roth Mkm lowered their price objective on Intel from $25.00 to $20.00 and set a “neutral” rating for the company in a research note on Friday, January 31st. Four analysts have rated the stock with a sell rating, twenty-eight have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Intel currently has an average rating of “Hold” and an average price target of $25.58.

Intel Stock Up 4.2 %

The firm’s 50 day simple moving average is $22.37 and its 200-day simple moving average is $22.08. The company has a market cap of $89.70 billion, a price-to-earnings ratio of -4.70 and a beta of 1.13. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.33 and a quick ratio of 0.98.

Intel (NASDAQ:INTC) last issued its earnings results on Thursday, January 30th. The chip maker reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.12 by ($0.14). Intel had a negative return on equity of 3.27% and a negative net margin of 35.32%. As a group, sell-side analysts anticipate that Intel Co. will post -0.11 earnings per share for the current year.

Institutional Trading of Intel

A number of hedge funds and other institutional investors have recently modified their holdings of INTC. Morse Asset Management Inc bought a new stake in shares of Intel during the third quarter valued at approximately $354,000. Arete Wealth Advisors LLC acquired a new stake in Intel in the third quarter worth about $203,000. Advisory Resource Group increased its stake in Intel by 6.7% during the 3rd quarter. Advisory Resource Group now owns 16,579 shares of the chip maker’s stock valued at $389,000 after buying an additional 1,034 shares during the period. SOA Wealth Advisors LLC. raised its position in shares of Intel by 7.3% during the 3rd quarter. SOA Wealth Advisors LLC. now owns 9,076 shares of the chip maker’s stock worth $213,000 after buying an additional 615 shares in the last quarter. Finally, World Investment Advisors LLC lifted its stake in shares of Intel by 59.6% in the 3rd quarter. World Investment Advisors LLC now owns 42,990 shares of the chip maker’s stock worth $1,009,000 after acquiring an additional 16,046 shares during the period. 64.53% of the stock is owned by hedge funds and other institutional investors.

Intel Company Profile

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.