Intel (NASDAQ:INTC) Trading 4.4% Higher

Intel Co. (NASDAQ:INTC)’s share price was up 4.4% during mid-day trading on Wednesday . The stock traded as high as $24.05 and last traded at $23.82. Approximately 40,550,445 shares traded hands during mid-day trading, a decline of 31% from the average daily volume of 58,476,223 shares. The stock had previously closed at $22.81.

Analyst Ratings Changes

Several research firms have issued reports on INTC. TD Cowen upgraded shares of Intel to a “hold” rating in a research note on Monday, September 16th. Truist Financial cut their target price on shares of Intel from $33.00 to $25.00 and set a “hold” rating on the stock in a report on Friday, August 2nd. Rosenblatt Securities restated a “sell” rating and issued a $17.00 price objective on shares of Intel in a research note on Friday, August 2nd. Northland Securities dropped their price target on Intel from $68.00 to $42.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on Intel from $38.00 to $27.00 and set a “hold” rating on the stock in a research note on Friday, August 2nd. Six analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $32.04.

Intel Price Performance

The company has a quick ratio of 1.24, a current ratio of 1.59 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $100.61 billion, a price-to-earnings ratio of 24.81 and a beta of 1.03. The company has a 50 day moving average of $23.20 and a 200 day moving average of $30.49.

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

Intel Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th were paid 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 yield of 2.12%. Intel’s dividend payout ratio is currently 52.08%.

Insider Activity

In related news, CEO Patrick P. Gelsinger purchased 12,500 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was 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 $765,576. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.04% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. DDFG Inc bought a new position in Intel in the fourth quarter worth about $205,000. Gryphon Financial Partners LLC increased its position in Intel by 8.2% in the fourth quarter. Gryphon Financial Partners LLC now owns 21,024 shares of the chip maker’s stock worth $1,060,000 after buying an additional 1,601 shares during the period. Congress Wealth Management LLC DE grew its position in shares of Intel by 15.8% during the fourth quarter. Congress Wealth Management LLC DE now owns 19,161 shares of the chip maker’s stock worth $963,000 after acquiring an additional 2,616 shares during the last quarter. JARISLOWSKY FRASER Ltd acquired a new position in shares of Intel during the fourth quarter worth approximately $765,000. Finally, United Services Automobile Association raised its stake in shares of Intel by 10.1% during the fourth quarter. United Services Automobile Association now owns 124,789 shares of the chip maker’s stock valued at $6,271,000 after purchasing an additional 11,477 shares in the last quarter. Institutional investors and hedge funds own 64.53% of the company’s stock.

Intel Company Profile

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.