Intel (NASDAQ:INTC) Shares Gap Up Following Analyst Upgrade

Intel Co. (NASDAQ:INTC)’s share price gapped up prior to trading on Friday after Mizuho raised their price target on the stock from $22.00 to $23.00. The stock had previously closed at $21.52, but opened at $23.00. Mizuho currently has a neutral rating on the stock. Intel shares last traded at $22.75, with a volume of 31,136,098 shares.

A number of other brokerages have also recently issued reports on INTC. Barclays dropped their price target on shares of Intel from $40.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Friday, August 2nd. Daiwa America upgraded shares of Intel to a “hold” rating in a research note on Monday, August 26th. Cantor Fitzgerald reduced their price target on shares of Intel from $40.00 to $27.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Needham & Company LLC restated a “hold” rating on shares of Intel in a report on Friday. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $25.00 target price (down from $28.00) on shares of Intel in a research note on Friday, October 25th. Six analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Intel currently has an average rating of “Hold” and a consensus target price of $30.12.

Insiders Place Their Bets

In other news, CEO Patrick P. Gelsinger acquired 12,500 shares of Intel stock in a transaction dated Monday, August 5th. The stock was purchased at an average cost of $20.16 per share, with a total value of $252,000.00. Following the completion of the purchase, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.04% of the stock is owned by company insiders.

Hedge Funds Weigh In On Intel

A number of hedge funds have recently made changes to their positions in the business. Guardian Capital Advisors LP boosted its stake in Intel by 2.1% in the 1st quarter. Guardian Capital Advisors LP now owns 16,030 shares of the chip maker’s stock worth $708,000 after purchasing an additional 328 shares during the period. Richard C. Young & CO. LTD. boosted its position in shares of Intel by 0.9% during the first quarter. Richard C. Young & CO. LTD. now owns 37,489 shares of the chip maker’s stock worth $1,656,000 after acquiring an additional 338 shares during the last quarter. Key Financial Inc grew its stake in Intel by 4.1% during the second quarter. Key Financial Inc now owns 8,685 shares of the chip maker’s stock valued at $269,000 after acquiring an additional 340 shares in the last quarter. Comprehensive Financial Consultants Institutional Inc. increased its holdings in Intel by 5.0% in the 1st quarter. Comprehensive Financial Consultants Institutional Inc. now owns 7,151 shares of the chip maker’s stock valued at $316,000 after acquiring an additional 342 shares during the last quarter. Finally, Proficio Capital Partners LLC lifted its stake in Intel by 3.9% in the 1st quarter. Proficio Capital Partners LLC now owns 9,067 shares of the chip maker’s stock worth $400,000 after purchasing an additional 343 shares in the last quarter. Institutional investors own 64.53% of the company’s stock.

Intel Stock Up 7.8 %

The firm’s fifty day simple moving average is $21.79 and its 200 day simple moving average is $26.96. 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 announced its quarterly earnings results on Thursday, August 1st. The chip maker reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.08). Intel had a negative net margin of 29.42% and a negative return on equity of 1.68%. The firm had revenue of $12.80 billion for the quarter, compared to the consensus estimate of $12.92 billion. During the same period in the previous year, the company posted ($0.05) earnings per share. Intel’s quarterly revenue was down .8% on a year-over-year basis. On average, sell-side analysts forecast that Intel Co. will post -0.47 EPS for the current fiscal year.

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.