Intel (NASDAQ:INTC) Trading 3.8% Higher – Here’s Why

Intel Co. (NASDAQ:INTC)’s share price traded up 3.8% during trading on Friday . The stock traded as high as $23.34 and last traded at $23.19. 22,396,273 shares traded hands during trading, a decline of 62% from the average session volume of 58,352,273 shares. The stock had previously closed at $22.34.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Morgan Stanley cut their target price on Intel from $36.00 to $25.00 and set an “equal weight” rating for the company in a research report on Friday, August 2nd. Rosenblatt Securities reiterated a “sell” rating and issued a $17.00 price objective on shares of Intel in a research report on Friday, August 2nd. Cantor Fitzgerald cut their price objective on Intel from $40.00 to $27.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Benchmark reissued a “hold” rating on shares of Intel in a research note on Monday, September 23rd. Finally, Raymond James cut Intel from an “outperform” rating to a “market perform” rating in a research note on Friday, August 2nd. Six analysts have rated the stock with a sell rating, twenty-four have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $31.15.

Intel Trading Up 1.5 %

The company has a fifty day simple moving average of $21.62 and a two-hundred day simple moving average of $27.53. 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 $96.98 billion, a P/E ratio of 98.61 and a beta of 1.03.

Intel (NASDAQ:INTC) last posted its earnings results on Thursday, August 1st. The chip maker reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.08). The business had revenue of $12.80 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.05) earnings per share. On average, sell-side analysts expect that Intel Co. will post -0.47 earnings per share for the current year.

Intel Dividend Announcement

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 2.20%. Intel’s dividend payout ratio (DPR) is 217.40%.

Insider Activity

In other news, CEO Patrick P. Gelsinger purchased 12,500 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were bought at an average cost of $20.16 per share, for a total transaction of $252,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 37,975 shares in the company, valued at approximately $765,576. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.04% of the company’s stock.

Institutional Trading of Intel

Institutional investors and hedge funds have recently bought and sold shares of the stock. America First Investment Advisors LLC bought a new stake in Intel during the second quarter worth about $25,000. Tributary Capital Management LLC bought a new stake in Intel during the first quarter worth about $27,000. Cyrus J. Lawrence LLC bought a new stake in Intel during the second quarter worth about $27,000. Spartan Fund Management Inc. acquired a new position in Intel during the second quarter worth approximately $31,000. Finally, Financial Connections Group Inc. acquired a new position in Intel during the second quarter worth approximately $32,000. Institutional investors own 64.53% of the company’s stock.

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.