Intel (NASDAQ:INTC) Shares Up 2.6%

Intel Co. (NASDAQ:INTC) shot up 2.6% during mid-day trading on Thursday . The company traded as high as $21.46 and last traded at $21.32. 22,479,109 shares changed hands during trading, a decline of 60% from the average session volume of 56,034,813 shares. The stock had previously closed at $20.77.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on INTC shares. Bank of America downgraded Intel from a “neutral” rating to an “underperform” rating and cut their price objective for the stock from $35.00 to $23.00 in a research report on Friday, August 2nd. Rosenblatt Securities reiterated a “sell” rating and set a $17.00 price target on shares of Intel in a research report on Friday, August 2nd. Northland Securities reduced their target price on Intel from $68.00 to $42.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. JPMorgan Chase & Co. cut their price objective on Intel from $35.00 to $26.00 and set an “underweight” rating on the stock in a report on Friday, August 2nd. Finally, Cantor Fitzgerald decreased their target price on Intel from $40.00 to $27.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Six equities research analysts have rated the stock with a sell rating, twenty-four have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $32.04.

Intel Trading Up 2.2 %

The firm has a market cap of $90.33 billion, a price-to-earnings ratio of 22.21 and a beta of 1.03. The business has a 50-day moving average of $24.17 and a 200-day moving average of $31.22. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.59 and a quick ratio of 1.24.

Intel (NASDAQ:INTC) last issued its earnings results on Thursday, August 1st. The chip maker reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.08). Intel had a return on equity of 1.78% and a net margin of 1.77%. The business had revenue of $12.80 billion for the quarter, compared to the consensus estimate of $12.92 billion. During the same quarter in the prior year, the business earned ($0.05) EPS. Intel’s revenue for the quarter was down .8% compared to the same quarter last year. Research analysts anticipate that Intel Co. will post -0.47 EPS for the current year.

Intel Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 7th were given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date of this dividend was Wednesday, August 7th. Intel’s dividend payout ratio (DPR) is currently 52.08%.

Insider Buying and Selling at Intel

In other Intel news, CEO Patrick P. Gelsinger bought 12,500 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were purchased at an average cost of $20.16 per share, with a total value of $252,000.00. Following the purchase, the chief executive officer now directly owns 37,975 shares in the company, valued at $765,576. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.04% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Newbridge Financial Services Group Inc. lifted its holdings in shares of Intel by 71.0% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 4,642 shares of the chip maker’s stock worth $144,000 after purchasing an additional 1,928 shares during the last quarter. Brightwater Advisory LLC acquired a new position in Intel in the 2nd quarter valued at approximately $208,000. Heritage Wealth Management Inc. bought a new stake in shares of Intel in the 2nd quarter valued at approximately $2,115,000. Sanctuary Advisors LLC acquired a new position in Intel during the second quarter worth $9,265,000. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in shares of Intel in the second quarter worth $65,000. 64.53% of the stock is owned by hedge funds and other 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.