Intel (NASDAQ:INTC) Stock Price Up 0.3% – Here’s What Happened

Intel Co. (NASDAQ:INTC) rose 0.3% during trading on Friday . The company traded as high as $26.40 and last traded at $26.32. Approximately 25,460,857 shares traded hands during mid-day trading, a decline of 57% from the average daily volume of 59,787,820 shares. The stock had previously closed at $26.23.

Wall Street Analyst Weigh In

INTC has been the subject of a number of recent research reports. Bank of America lowered shares of Intel from a “neutral” rating to an “underperform” rating and reduced their price target for the stock from $35.00 to $23.00 in a research report on Friday, August 2nd. Needham & Company LLC restated a “hold” rating on shares of Intel in a research report on Friday, November 1st. Raymond James downgraded Intel from an “outperform” rating to a “market perform” rating in a research report on Friday, August 2nd. Susquehanna decreased their price objective on Intel from $35.00 to $26.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Finally, Cantor Fitzgerald dropped their target price on Intel from $40.00 to $27.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Six research analysts have rated the stock with a sell rating, twenty-five have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $30.12.

Intel Trading Down 0.1 %

The company has a market capitalization of $113.00 billion, a PE ratio of -7.04 and a beta of 1.03. The company has a 50 day simple moving average of $22.22 and a 200 day simple moving average of $26.66. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.97 and a current ratio of 1.31.

Intel (NASDAQ:INTC) last issued its quarterly earnings results on Thursday, October 31st. The chip maker reported ($0.46) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.44). Intel had a negative return on equity of 1.71% and a negative net margin of 29.42%. The firm had revenue of $13.30 billion for the quarter, compared to analysts’ expectations of $13.02 billion. During the same quarter in the previous year, the firm posted $0.28 earnings per share. The firm’s revenue for the quarter was down 6.3% compared to the same quarter last year. Analysts anticipate that Intel Co. will post -0.83 earnings per share for the current year.

Insider Transactions at Intel

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $26.00, for a total transaction of $650,000.00. Following the completion of the sale, the executive vice president now owns 273,258 shares of the company’s stock, valued at approximately $7,104,708. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.04% of the company’s stock.

Institutional Trading of Intel

Several large investors have recently added to or reduced their stakes in the stock. Envestnet Portfolio Solutions Inc. increased its holdings in shares of Intel by 30.9% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 119,045 shares of the chip maker’s stock worth $5,258,000 after buying an additional 28,125 shares during the last quarter. Sei Investments Co. increased its stake in Intel by 7.7% during the first quarter. Sei Investments Co. now owns 1,865,864 shares of the chip maker’s stock worth $82,417,000 after acquiring an additional 133,532 shares during the last quarter. Meeder Asset Management Inc. raised its position in Intel by 124.4% in the first quarter. Meeder Asset Management Inc. now owns 201,283 shares of the chip maker’s stock valued at $8,891,000 after purchasing an additional 111,587 shares during the period. Meeder Advisory Services Inc. lifted its stake in shares of Intel by 4.1% in the 1st quarter. Meeder Advisory Services Inc. now owns 49,363 shares of the chip maker’s stock valued at $2,180,000 after purchasing an additional 1,934 shares during the last quarter. Finally, Delta Financial Advisors LLC grew its holdings in shares of Intel by 2.0% during the 1st quarter. Delta Financial Advisors LLC now owns 57,005 shares of the chip maker’s stock worth $2,518,000 after purchasing an additional 1,104 shares during the period. 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.