Intel (NASDAQ:INTC) Trading 0.2% Higher

Intel Co. (NASDAQ:INTC)’s share price rose 0.2% on Thursday . The company traded as high as $22.73 and last traded at $22.43. Approximately 15,604,475 shares traded hands during trading, a decline of 74% from the average daily volume of 59,179,617 shares. The stock had previously closed at $22.39.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on INTC. Morgan Stanley lowered their price target on shares of Intel from $36.00 to $25.00 and set an “equal weight” rating on the stock in a report on Friday, August 2nd. Rosenblatt Securities reaffirmed a “sell” rating and set a $17.00 price target on shares of Intel in a research report on Friday, August 2nd. TD Cowen raised Intel to a “hold” rating in a report on Monday, September 16th. Cantor Fitzgerald dropped their price objective on shares of Intel from $40.00 to $27.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Finally, Roth Mkm reduced their target price on shares of Intel from $35.00 to $25.00 and set a “neutral” rating for the company in a research note 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 data from MarketBeat, Intel presently has a consensus rating of “Hold” and an average target price of $31.96.

Intel Trading Down 0.9 %

The firm’s 50-day simple moving average is $21.99 and its 200-day simple moving average is $29.72. 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 firm has a market capitalization of $94.42 billion, a P/E ratio of 22.99 and a beta of 1.03.

Intel (NASDAQ:INTC) last released 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 firm had revenue of $12.80 billion during the quarter, compared to the consensus estimate of $12.92 billion. During the same quarter in the previous year, the firm earned ($0.05) EPS. The business’s quarterly revenue was down .8% compared to the same quarter last year. Analysts anticipate that Intel Co. will post -0.47 EPS for the current year.

Intel Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th were issued a $0.125 dividend. The ex-dividend date was Wednesday, August 7th. This represents a $0.50 annualized dividend and a dividend yield of 2.25%. Intel’s dividend payout ratio is currently 52.08%.

Insider Activity

In related news, CEO Patrick P. Gelsinger acquired 12,500 shares of the stock in a transaction on Monday, August 5th. The stock was purchased at an average price of $20.16 per share, for a total transaction of $252,000.00. Following the completion of the transaction, the chief executive officer now owns 37,975 shares of the company’s stock, valued at approximately $765,576. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.04% of the stock is currently owned by corporate insiders.

Institutional Trading of Intel

Large investors have recently modified their holdings of the business. Belpointe Asset Management LLC raised its stake in Intel by 7.0% in the fourth quarter. Belpointe Asset Management LLC now owns 13,052 shares of the chip maker’s stock worth $656,000 after buying an additional 853 shares in the last quarter. 1832 Asset Management L.P. lifted its stake in shares of Intel by 301.5% in the 4th quarter. 1832 Asset Management L.P. now owns 470,641 shares of the chip maker’s stock valued at $23,650,000 after purchasing an additional 353,426 shares during the period. Public Employees Retirement Association of Colorado boosted its position in shares of Intel by 7,836.1% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 622,668 shares of the chip maker’s stock valued at $31,289,000 after purchasing an additional 614,822 shares in the last quarter. Exencial Wealth Advisors LLC grew its stake in Intel by 13.7% in the fourth quarter. Exencial Wealth Advisors LLC now owns 26,055 shares of the chip maker’s stock worth $1,309,000 after purchasing an additional 3,139 shares during the period. Finally, Pinnacle West Asset Management Inc. raised its holdings in Intel by 4.6% in the fourth quarter. Pinnacle West Asset Management Inc. now owns 29,275 shares of the chip maker’s stock worth $1,471,000 after purchasing an additional 1,275 shares in the last quarter. 64.53% of the stock is 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.