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

Intel Co. (NASDAQ:INTC) shares rose 1.4% on Wednesday . The company traded as high as $19.50 and last traded at $19.46. Approximately 14,235,057 shares traded 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.

Analyst Ratings Changes

INTC has been the topic of a number of research reports. Mizuho reduced their target price on shares of Intel from $23.00 to $21.00 and set a “neutral” rating on the stock in a research report on Friday, January 10th. Benchmark restated a “hold” rating on shares of Intel in a report on Friday, November 1st. Needham & Company LLC reissued a “hold” rating on shares of Intel in a research report on Friday, November 1st. Truist Financial lifted their price objective on Intel from $25.00 to $26.00 and gave the company a “hold” rating in a report on Friday, November 1st. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of Intel from $27.00 to $25.00 and set a “hold” rating on the stock in a report on Thursday, October 3rd. Six research analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Intel presently has an average rating of “Hold” and a consensus target price of $29.88.

Intel Price Performance

The firm has a market cap of $92.64 billion, a PE ratio of -5.77, a price-to-earnings-growth ratio of 8.53 and a beta of 1.07. The stock has a 50 day simple moving average of $21.78 and a two-hundred day simple moving average of $23.47. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.97 and a current ratio of 1.31.

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

Insider Buying and Selling

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of the company’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $26.00, for a total value of $650,000.00. Following the completion of the transaction, the executive vice president now owns 273,258 shares of the company’s stock, valued at approximately $7,104,708. This represents a 8.38 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.04% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in INTC. Cyrus J. Lawrence LLC purchased a new stake in Intel in the 2nd quarter worth $27,000. Quest Partners LLC grew its position in shares of Intel by 7,370.6% in the third quarter. Quest Partners LLC now owns 1,270 shares of the chip maker’s stock valued at $30,000 after purchasing an additional 1,253 shares during the period. Finley Financial LLC purchased a new stake in shares of Intel during the fourth quarter worth about $25,000. FSA Wealth Management LLC acquired a new position in shares of Intel during the 3rd quarter worth about $34,000. Finally, Capital Performance Advisors LLP purchased a new position in Intel in the 3rd quarter valued at about $36,000. 64.53% of the stock is owned by institutional investors and hedge funds.

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.