Intel (NASDAQ:INTC) Shares Up 1% – What’s Next?

Intel Co. (NASDAQ:INTC)’s stock price rose 1% during trading on Wednesday . The stock traded as high as $20.40 and last traded at $20.40. Approximately 29,884,023 shares were traded during mid-day trading, a decline of 52% from the average daily volume of 61,837,902 shares. The stock had previously closed at $20.20.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Benchmark reissued a “hold” rating on shares of Intel in a research note on Friday, November 1st. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Intel from $27.00 to $25.00 and set a “hold” rating for the company in a report on Thursday, October 3rd. Northland Securities reduced their target price on shares of Intel from $42.00 to $28.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Truist Financial increased their price target on shares of Intel from $25.00 to $26.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Finally, Bank of America reaffirmed an “underperform” rating and set a $21.00 price target on shares of Intel in a research report on Tuesday, December 3rd. Six equities 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 stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $30.04.

Intel Price Performance

The firm has a market capitalization of $88.16 billion, a price-to-earnings ratio of -5.49 and a beta of 1.05. The stock’s fifty day moving average price is $22.60 and its two-hundred day moving average price is $24.58. The company has a current ratio of 1.31, a quick ratio of 0.97 and a debt-to-equity ratio of 0.44.

Intel (NASDAQ:INTC) last posted its quarterly earnings results on Thursday, October 31st. The chip maker reported ($0.46) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.44). The business had revenue of $13.30 billion during the quarter, compared to analyst estimates of $13.02 billion. Intel had a negative net margin of 29.42% and a negative return on equity of 1.71%. The firm’s quarterly revenue was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.28 earnings per share. Equities research analysts expect that Intel Co. will post -0.87 EPS for the current year.

Insider Activity at Intel

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of Intel stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $26.00, for a total transaction of $650,000.00. Following the sale, the executive vice president now directly owns 273,258 shares in the company, valued at $7,104,708. This trade represents a 8.38 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.04% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Intel

Several hedge funds have recently made changes to their positions in INTC. America First Investment Advisors LLC purchased a new position in Intel during the 2nd quarter worth approximately $25,000. Cyrus J. Lawrence LLC purchased a new position in shares of Intel during the second quarter worth approximately $27,000. Quest Partners LLC increased its holdings in shares of Intel by 7,370.6% in the 3rd quarter. Quest Partners LLC now owns 1,270 shares of the chip maker’s stock valued at $30,000 after acquiring an additional 1,253 shares during the period. Spartan Fund Management Inc. purchased a new stake in Intel in the 2nd quarter valued at $31,000. Finally, Groupama Asset Managment boosted its stake in Intel by 6.3% during the 3rd quarter. Groupama Asset Managment now owns 137,181 shares of the chip maker’s stock worth $32,000 after purchasing an additional 8,084 shares during the period. Hedge funds and other 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.