Intel (NASDAQ:INTC) Stock Price Up 2.4%

Intel Co. (NASDAQ:INTC) was up 2.4% during trading on Monday . The company traded as high as $22.78 and last traded at $22.36. Approximately 73,984,297 shares were traded during trading, an increase of 28% from the average daily volume of 57,672,203 shares. The stock had previously closed at $21.84.

Analyst Upgrades and Downgrades

INTC has been the topic of several research reports. Hsbc Global Res cut shares of Intel from a “hold” rating to a “moderate sell” rating in a research report on Friday, August 2nd. The Goldman Sachs Group lowered their price target on shares of Intel from $29.00 to $22.00 and set a “sell” rating for the company in a report on Friday, August 2nd. TD Cowen raised Intel to a “hold” rating in a research note on Monday, September 16th. Bank of America downgraded Intel from a “neutral” rating to an “underperform” rating and cut their target price for the company from $35.00 to $23.00 in a research report on Friday, August 2nd. Finally, HSBC downgraded Intel from a “hold” rating to a “reduce” rating in a research report on Friday, August 2nd. Six research analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $32.04.

Intel Trading Up 3.8 %

The company has a fifty day moving average of $23.67 and a 200-day moving average of $30.80. The company has a market capitalization of $96.51 billion, a price-to-earnings ratio of 23.29 and a beta of 1.03. The company has a current ratio of 1.59, a quick ratio of 1.24 and a debt-to-equity ratio of 0.40.

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

Intel Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th were issued a dividend of $0.125 per share. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $0.50 annualized dividend and a dividend yield of 2.21%. Intel’s dividend payout ratio is presently 52.08%.

Insider Transactions at Intel

In related news, CEO Patrick P. Gelsinger acquired 12,500 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were purchased at an average cost of $20.16 per share, for a total transaction of $252,000.00. Following the acquisition, the chief executive officer now owns 37,975 shares in the company, valued at approximately $765,576. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.04% of the company’s stock.

Institutional Trading of Intel

Large investors have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its holdings in Intel by 543.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 37,384,507 shares of the chip maker’s stock worth $1,878,572,000 after buying an additional 31,575,084 shares during the last quarter. Capital International Investors boosted its holdings in Intel by 16.0% in the 1st quarter. Capital International Investors now owns 112,093,582 shares of the chip maker’s stock valued at $4,951,174,000 after purchasing an additional 15,475,631 shares in the last quarter. Van ECK Associates Corp raised its position in Intel by 60.5% in the second quarter. Van ECK Associates Corp now owns 34,591,800 shares of the chip maker’s stock worth $1,071,308,000 after acquiring an additional 13,035,566 shares in the last quarter. Davis Selected Advisers increased its holdings in Intel by 86.2% in the second quarter. Davis Selected Advisers now owns 12,642,316 shares of the chip maker’s stock valued at $391,533,000 after buying an additional 5,851,098 shares in the last quarter. Finally, Caxton Associates LP acquired a new stake in shares of Intel in the 2nd quarter worth approximately $162,592,000. 64.53% of the stock is currently 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.