Intel (NASDAQ:INTC) Shares Up 1.4% – Here’s Why

Intel Co. (NASDAQ:INTC)’s stock price rose 1.4% during mid-day trading on Wednesday . The company traded as high as $19.50 and last traded at $19.46. Approximately 14,235,057 shares changed hands during trading, a decline of 73% from the average daily volume of 52,198,063 shares. The stock had previously closed at $19.20.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on INTC shares. The Goldman Sachs Group cut their target price on Intel from $22.00 to $21.00 and set a “sell” rating on the stock in a research note on Thursday, October 17th. Bank of America reissued an “underperform” rating and set a $21.00 price objective on shares of Intel in a research report on Tuesday, December 3rd. Truist Financial lifted their target price on shares of Intel from $25.00 to $26.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Stifel Nicolaus reiterated a “hold” rating and set a $25.00 price target (down previously from $28.00) on shares of Intel in a report on Friday, October 25th. Finally, Robert W. Baird upped their price objective on Intel from $20.00 to $25.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Six research analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $29.88.

Intel Trading Up 9.2 %

The stock has a market capitalization of $92.64 billion, a PE ratio of -5.77, a PEG ratio of 8.53 and a beta of 1.07. The stock’s 50 day moving average price is $21.78 and its 200-day moving average price is $23.47. The company has a quick ratio of 0.97, a current ratio of 1.31 and a debt-to-equity ratio of 0.44.

Intel (NASDAQ:INTC) last posted its quarterly earnings results on Thursday, October 31st. The chip maker reported ($0.46) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.44). The business had revenue of $13.30 billion for the quarter, compared to the consensus estimate of $13.02 billion. Intel had a negative net margin of 29.42% and a negative return on equity of 1.71%. Intel’s revenue was down 6.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.28 earnings per share. On average, sell-side analysts expect that Intel Co. will post -0.87 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Intel news, EVP Michelle Johnston Holthaus sold 25,000 shares of Intel stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $26.00, for a total value of $650,000.00. Following the sale, the executive vice president now directly owns 273,258 shares in the company, valued at approximately $7,104,708. The trade was a 8.38 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.04% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Intel

Several large investors have recently made changes to their positions in INTC. Assenagon Asset Management S.A. increased its stake in Intel by 264.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 19,617,088 shares of the chip maker’s stock worth $393,323,000 after acquiring an additional 14,227,458 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Intel by 28.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 58,469,412 shares of the chip maker’s stock valued at $1,371,692,000 after purchasing an additional 12,865,308 shares in the last quarter. Van ECK Associates Corp increased its position in Intel by 27.2% in the third quarter. Van ECK Associates Corp now owns 44,013,936 shares of the chip maker’s stock worth $967,426,000 after purchasing an additional 9,422,136 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its stake in Intel by 224.8% during the third quarter. Jacobs Levy Equity Management Inc. now owns 10,413,544 shares of the chip maker’s stock valued at $244,302,000 after purchasing an additional 7,207,785 shares in the last quarter. Finally, State Street Corp raised its position in shares of Intel by 2.8% during the 3rd quarter. State Street Corp now owns 197,958,739 shares of the chip maker’s stock valued at $4,644,112,000 after buying an additional 5,417,753 shares in the last quarter. 64.53% of the stock is owned by institutional investors.

About Intel

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.