Intel (NASDAQ:INTC) Trading 0.3% Higher – Here’s What Happened

Intel Co. (NASDAQ:INTC)’s stock price was up 0.3% during trading on Friday . The company traded as high as $26.40 and last traded at $26.32. Approximately 25,460,857 shares changed hands during mid-day trading, a decline of 57% from the average daily volume of 59,787,820 shares. The stock had previously closed at $26.23.

Analyst Ratings Changes

A number of equities analysts have commented on INTC shares. Benchmark restated a “hold” rating on shares of Intel in a research report on Friday, November 1st. Argus lowered shares of Intel from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Intel from $27.00 to $25.00 and set a “hold” rating for the company in a research note on Thursday, October 3rd. Mizuho boosted their target price on shares of Intel from $22.00 to $23.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Intel in a research note on Friday, November 1st. Six analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $30.12.

Intel Stock Performance

The stock has a market cap of $111.66 billion, a price-to-earnings ratio of -7.08 and a beta of 1.03. The stock’s fifty day moving average is $22.01 and its 200-day moving average is $26.72. 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 issued its quarterly earnings data on Thursday, October 31st. The chip maker reported ($0.46) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.44). The firm had revenue of $13.30 billion for the quarter, compared to analyst estimates of $13.02 billion. Intel had a negative net margin of 29.42% and a negative return on equity of 1.71%. The firm’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.28 EPS. On average, analysts forecast that Intel Co. will post -0.47 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in INTC. Norden Group LLC boosted its holdings in shares of Intel by 27.8% in the first quarter. Norden Group LLC now owns 14,412 shares of the chip maker’s stock valued at $637,000 after buying an additional 3,133 shares during the period. Advisory Alpha LLC boosted its holdings in shares of Intel by 8.4% in the first quarter. Advisory Alpha LLC now owns 6,891 shares of the chip maker’s stock valued at $304,000 after buying an additional 533 shares during the period. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of Intel by 30.9% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 119,045 shares of the chip maker’s stock valued at $5,258,000 after buying an additional 28,125 shares during the period. AIA Group Ltd acquired a new position in Intel during the first quarter worth $818,000. Finally, Hilltop National Bank acquired a new position in Intel during the first quarter worth $597,000. Institutional investors and hedge funds 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.