Intel (NASDAQ:INTC) Trading Up 3.3% – Here’s Why

Intel Co. (NASDAQ:INTC) traded up 3.3% during mid-day trading on Wednesday . The company traded as high as $23.76 and last traded at $23.75. 19,259,756 shares changed hands during trading, a decline of 80% from the average session volume of 95,447,617 shares. The stock had previously closed at $22.99.

Analyst Upgrades and Downgrades

INTC has been the topic of a number of recent analyst reports. Citigroup reduced their price target on Intel from $22.00 to $21.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 21st. Benchmark reaffirmed a “hold” rating on shares of Intel in a research report on Friday, January 31st. Mizuho reduced their target price on shares of Intel from $23.00 to $21.00 and set a “neutral” rating for the company in a report on Friday, January 10th. Bank of America reaffirmed an “underperform” rating and set a $21.00 target price on shares of Intel in a report on Tuesday, December 3rd. Finally, Roth Mkm cut their price target on Intel from $25.00 to $20.00 and set a “neutral” rating for the company in a research note on Friday, January 31st. Five analysts have rated the stock with a sell rating, twenty-seven have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $26.88.

Intel Stock Up 2.5 %

The company has a market capitalization of $102.03 billion, a P/E ratio of -5.38 and a beta of 1.08. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.98 and a current ratio of 1.33. The firm’s fifty day moving average is $20.96 and its 200-day moving average is $21.73.

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

Institutional Investors Weigh In On Intel

Several hedge funds and other institutional investors have recently modified their holdings of INTC. Geode Capital Management LLC lifted its position in Intel by 4.6% during the third quarter. Geode Capital Management LLC now owns 92,510,098 shares of the chip maker’s stock valued at $2,162,891,000 after purchasing an additional 4,103,553 shares during the last quarter. Relyea Zuckerberg Hanson LLC raised its stake in Intel by 211.6% in the fourth quarter. Relyea Zuckerberg Hanson LLC now owns 28,898 shares of the chip maker’s stock worth $579,000 after buying an additional 19,625 shares in the last quarter. Principal Financial Group Inc. raised its holdings in Intel by 4.4% in the third quarter. Principal Financial Group Inc. now owns 4,827,123 shares of the chip maker’s stock worth $113,244,000 after purchasing an additional 204,200 shares in the last quarter. Empirical Asset Management LLC bought a new position in shares of Intel during the fourth quarter valued at approximately $276,000. Finally, Swiss National Bank boosted its stake in Intel by 0.3% in the 3rd quarter. Swiss National Bank now owns 12,635,400 shares of the chip maker’s stock worth $296,426,000 after purchasing an additional 31,800 shares in the last quarter. 64.53% of the stock is currently 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.