Intel (NASDAQ:INTC) Stock Price Up 1.6% – Here’s Why

Intel Co. (NASDAQ:INTC)’s stock price traded up 1.6% during mid-day trading on Thursday . The stock traded as high as $24.26 and last traded at $23.90. 32,233,312 shares were traded during trading, a decline of 66% from the average session volume of 94,980,453 shares. The stock had previously closed at $23.52.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on INTC shares. Benchmark reaffirmed a “hold” rating on shares of Intel in a report on Friday, January 31st. Needham & Company LLC restated a “hold” rating on shares of Intel in a research note on Friday, January 31st. Wells Fargo & Company decreased their price target on Intel from $28.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Friday, January 31st. Barclays lowered their price target on shares of Intel from $25.00 to $23.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. Finally, HSBC raised shares of Intel from a “reduce” rating to a “hold” rating in a research note on Tuesday, January 21st. Five analysts have rated the stock with a sell rating, twenty-seven have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $26.88.

Intel Stock Performance

The company has a market cap of $99.98 billion, a P/E ratio of -5.27 and a beta of 1.08. The business has a 50 day moving average price of $21.04 and a two-hundred day moving average price of $21.74. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.98 and a current ratio of 1.33.

Intel (NASDAQ:INTC) last released its quarterly earnings data on Thursday, January 30th. The chip maker reported ($0.02) earnings per share 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, sell-side analysts anticipate that Intel Co. will post -0.11 earnings per share for the current year.

Institutional Investors Weigh In On Intel

A number of large investors have recently added to or reduced their stakes in the company. Cornerstone Advisory LLC grew its stake in shares of Intel by 4.3% in the fourth quarter. Cornerstone Advisory LLC now owns 9,863 shares of the chip maker’s stock worth $198,000 after purchasing an additional 409 shares during the last quarter. Evergreen Capital Management LLC grew its position in shares of Intel by 1.0% in the 4th quarter. Evergreen Capital Management LLC now owns 41,904 shares of the chip maker’s stock worth $840,000 after buying an additional 419 shares during the last quarter. Dunhill Financial LLC increased its stake in shares of Intel by 22.6% during the third quarter. Dunhill Financial LLC now owns 2,380 shares of the chip maker’s stock valued at $56,000 after buying an additional 438 shares during the period. Federated Hermes Inc. raised its holdings in shares of Intel by 0.3% during the fourth quarter. Federated Hermes Inc. now owns 162,757 shares of the chip maker’s stock valued at $3,263,000 after acquiring an additional 456 shares in the last quarter. Finally, Beaton Management Co. Inc. lifted its stake in Intel by 2.2% in the third quarter. Beaton Management Co. Inc. now owns 23,208 shares of the chip maker’s stock worth $544,000 after acquiring an additional 500 shares during the period. Institutional investors own 64.53% of the company’s stock.

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.